|
Nestled along the picturesque shores of Lake Ontario, Rochester, NY stands out as one of America's top cities for quality of life. Not only is it adorned with old industrial buildings that impart urban charm, but the city also thrives with culture, steeped in its illustrious history in photography, xerography, and optics. When you’re contemplating investment in real estate, a locale as rich in history and culture as this lovely city can be very appealing. Given that real estate remains one of the most dependable forms of long-term investment, the blend of scenic beauty and urban allure is attractive for those looking for a first time investment property. Rochester, NY is also an appealing prospect for those seeking to diversify or add to their portfolio. We’ve compiled a list of reasons to further inform your decision to purchase an investment property in Rochester, NY. It has Lots of Lovely Neighborhoods One of the reasons that the city has earned acclaim for its exceptional quality of life is attributed to its diverse and vibrant neighborhoods; each of which boasts distinct characteristics. From walkable streets and quaint charm to bustling coffee shop scenes, these unique pockets contribute to Rochester's cultural richness, offering residents a dynamic and engaging environment to call home. There is a Growing Job Market When it comes to the job market, Rochester surpasses not only New York State but the entire US in terms of private sector job growth year-over-year. However, the robust housing market in the city poses challenges for prospective buyers, often leading them to opt for renting instead. While this presents a hurdle for newcomers, for those fortunate enough to afford an investment property, Rochester, NY can prove to be a highly profitable decision. With a high demand for rental properties driven by the influx of job opportunities, investing in real estate here offers promising returns – with a steady stream of tenants expected for the foreseeable future. It is Well Connected The city boasts a robust transport network that efficiently connects its residents, spanning not only the city but also extending to Manhattan (with a commute of less than seven hours). Additionally, major markets like Boston, Philadelphia, and Toronto are all within a 500-mile radius of Greater Rochester, facilitating convenient travel throughout the state and beyond. A Great Place for Bike Lovers For cycling enthusiasts, it's worth noting the city ranks as the third most bikeable one in New York State. This allows residents to seamlessly incorporate exercise into their daily commute, while also saving on fuel costs and avoiding the hassle of finding parking spots every time they drive. Pets are Welcome In addition to enhancing the scenic beauty of a bike ride, the city offers numerous dog parks, making it a haven not just for its residents but also for their beloved furry companions. With a plethora of pet-friendly restaurants and businesses, the city caters to both families and individuals who share their lives with a four-legged friend. In summary, with a thriving renters' market and a notable 54% surge in property values over the past decade, when it comes to purchasing an investment property, Rochester, NY presents itself as a promising real estate opportunity. Beyond the friendly atmosphere, the well-connected city boasts outstanding infrastructure and a buoyant job market, further enhancing its potential. As long as you do your research and enlist the help of a professional property management company, investment in this vibrant city could be the best financial decision of your life. Author Plate Danny Torres is from Torres Turn Key, a property management company in Rochester NY with more than ten years’ experience providing a holistic service for both domestic and international investors. When it comes to an investment property, Rochester, NY is one of the most exciting areas to invest in both commercial and residential properties. The company brings together a host of experience and specialist knowledge to build long-term relationships and create maximum value and benefit for their customers.
Related Articles -
investment, property, Rochester, NY,
| 
