Located in Mobile County, Alabama, Saraland is a small city that’s growing rapidly. New housing has been developed over the last few years, and it looks like building will continue. For investors who would like to acquire rental homes in the Mobile market, Saraland is an excellent area to consider for several reasons.
New hotels, restaurants, and other businesses have begun moving into Saraland. With low crime rates and an independent school district, it’s a family-friendly city and a community with lots of supports in place for seniors and children.
Rental rates in Saraland are higher than the average for Alabama. Investors can depend on consistent rental income and reliable, well-qualified tenants.
Consider Your Saraland Tenant Pool
Tenants in Saraland will largely be families and retirees. Many professionals who are moving out of Mobile are also considering neighborhoods in and around Saraland. The best place to buy will be a neighborhood that attracts a lot of tenants. It may be in a great school district or close to commuter routes.
When you’re choosing the neighborhood to invest in, make sure you’re thinking about your likely tenants. Many investors make the mistake of looking for homes that they’d like to live in themselves. Unless you’re targeting high-end tenants and rental values, you probably don’t need granite counters, marble floors, and custom bath tubs to attract great residents.
Buying in an HOA: Check Association Rules
Saraland offers a lot of diverse neighborhoods to investors. Before you buy a single-family home in a new construction neighborhood with an HOA or a condo in a building with an association, make sure you understand what you’re joining. You have to review and accept the association rules and regulations. There may be rules about pets, extra fees, and high association dues that will have to be factored into your decision. Choosing the association that you buy in will often be just as important as the neighborhood in which it’s located.
HOA communities are growing across the country, and there’s a good chance your investment will fall into an association of some sort. Be prepared for the extra rules and regulations involving your plans to rent your home out.
Saraland Investment Property: What to Look for and What to Avoid
Excellent investment options exist throughout Saraland. Real estate investors can expect to earn consistent rental income while they have good tenants in place preserving the condition of their property.
Don’t be tempted to buy homes that need a lot of work. Not only will you have to invest money in making repairs and renovations, you’ll also delay the leasing process and collection of rent. Find a property that may need a bit of cosmetic work but is otherwise ready for tenants to move in.
Some of the best and most desirable neighborhoods and subdivisions include areas like Saraoaks, Kali Oaks, Mustang Park, and Spanish Trace. Always talk to a Saraland property management company before you buy an investment home. You want to get an idea of what the home will rent for, how long it will take to find a tenant, and what kind of maintenance and repairs you can expect.
We can help you through this process. Contact us at IRBY Property Management for information that matches your unique investment goals and needs.