Goose Creek is a serene, pleasant neighborhood less than half an hour north of downtown Charleston. When investors are interested in buying rental property in the Charleston market, we always guide them towards Goose Creek investments, especially when they’re looking for a single-family home.
The population in Goose Creek currently stands at around 36,000 people. We expect it to grow, which means there will be a great pool of tenants to choose from when you’re renting out a home.
If you’re looking for a great neighborhood to buy property in Goose Creek, there are several good options. Many subdivisions are in HOA communities and there are also established mid-century neighborhoods that have been around for decades.
Goose Creek attracts families, which makes it an excellent place to invest. Here’s what to consider.
Goose Creek Tenants Prefer Single-Family Homes
Tenants in Goose Creek who want to rent a single-family home are looking for privacy, space, and a neighborhood that’s safe, attractive, and close to great schools, shopping, and recreation. These are the renters you need to think about when you’re choosing the right investment property. Research school districts before you buy. Evaluate the commuter routes and whether an HOA property offers more amenities than a single-family home that’s not part of a community association or sub-division.
Most single-family tenants will be looking for outdoor space, off-street parking that involves a garage or at least a driveway, and a low-maintenance floor plan that accommodates their lifestyle. You can expect these tenants to have pets and to look for locations that have sidewalks, trees, and a sense of security.
Look for Well-Maintained Goose Creek Rental Properties
Excellent investment options exist throughout Goose Creek and the surrounding communities. 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.
Remember that this has to be a business decision, not an emotional one. You’re not shopping for a home that you’re going to occupy. While you might insist upon granite counters and large yards when you’re buying your own home, purchasing an investment property requires you to look for different things.
Reaching the Millennial and Active Adult Demographics
Demographics are important, and you’ll want to think about the tenants you’ll likely attract with a single-family home in Goose Creek. A lot of current and future tenants are older adults who may be nearing retirement age. They are likely looking for one-story single-family properties that don’t require a lot of work but also provide the quality of life they’re accustomed to after owning their own home. They’ll want to be close to medical centers, restaurants, and grocery stores.
Millennial renters are known for doing things in a way that’s unique to their generation. They’ll usually prefer a walkable neighborhood. They will appreciate being able to engage in community activities and events. So, stay away from properties that are too remote.
These are just a few things any investor will want to think about before acquiring a Goose Creek rental property. We can talk to you about rental values and other projections if you’ve identified a property that you want to buy. We can also help you identify some great opportunities. Contact our team at ROG Coastal Property Management.