Investment Secrets: Top Three Neighborhoods

Investment Secrets: Top Three Neighborhoods
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Okay, okay, we get it. You want to live in Sugar House. We all do. It’s gorgeous, close to the mountains, has great schools, shops, and restaurants. But not that long ago, it wasn’t thriving the way it is now. Homeowners have poured a ton of money into making Sugar House what it is today- which is a great investment. It’s always been a great place to live, but now the town is synonymous with style and is one of the most coveted places to live in the entire state.

It’s an eclectic scene. A private college, Westminster College, brings vitality and new life every fall with its hip college students. Young families and long-standing residents are proud of Sugar House and take action in community and civic engagements. And, of course, there’s the bevy of Salt Lake City’s best shopping spots, dining establishments, and hidden gems.

Some people managed to buy before the giant renovations and remodels that started taking place in the early 2000s. What was once a long-time stagnant development property at the 2100 S. and 1100 E. intersection (called the “Sugar Hole” by residents) has risen from the ashes to become a multi-use structure with condos, restaurants, and shops.

Since then, home prices have sky-rocketed. What was a good investment back then, is a GREAT investment now. The same thing has happened to 9th & 9th.

Many people have asked us where the “next” Sugar House will be. Where will the city be pouring in more money?

Here are our Top Three Choices for the next generation of soon-to-be sublime neighborhoods. Sure, they may be a little rough around the edges, but once they’re in tip-top shape, everyone will want to live there.

Rose Park. This neighborhood has a lot going for it. It’s right below the Marmalade District, minutes from the city. It’s close to the mountains, and already has giant parks as part of its infrastructure. If this isn’t enough, the homes are historic and charming- built in the same craftsmanship vein as those higher on the Foothills and Sugar House. When you drive through this area it’s very reminiscent of Sugar House. The city is already pouring money into updating the amenities. Home prices are expected to rise dramatically in this area over the next few years.

Lower Millcreek. There are oh so many reasons to move to Millcreek this year. It’s fiscally fit with a healthy and steady economy with even more plans to expand in the future. With Millcreek set to officially become it’s own city at the start of 2016 there are big plans to make it one of the best up and coming neighborhoods. You can find homes from adorable to immaculate on the same street. Not only that, but the schools are already top notch and there are a few neighborhood markets that currently exist but no one knows about. Once this area starts to get some traction with development, watch out!

South of Sugarhouse. Right now, if you move to Sugar House, you will be paying top dollar for any home purchased. If this is a place you want to live, it’s a great idea. But smart investors know that if you want to see growth in your real estate investment, it’s wise to buy on the fringe of a popular city. Just south of Sugar House, you’ll still find charming homes, tree-lined streets and access to the same amenities without the all of the buzz. But, as Millcreek continues to develop, this area in between both neighborhoods is what we call, a hot little pocket.

Want to find a strategy that works best for you? Give us a call, and we’ll be happy to find a home specific to your needs. (801)230-5218