We have several that consider whether to buy in the Chandler Ocotillo area or north Scottsdale… and in my opinion those are the two best places in the east valley to buy a town home or condo. I’ll explain why, but they offer the best amenities for living and playing in… as well as for long-term investment purposes.
I’m a huge fan of the Grayhawk area … it’s really close to Desert Ridge for shopping… or Kierland & the Scottsdale Quarters for shopping… or Scottsdale Fashion Square… and then right across the street from the Grayhawk golf course and then there’s about 15-25 golf courses all within about 15 miles… and some absolutely gorgeous places as well.
I would highly recommend getting a Scottsdale town home or Chandler town home with a garage … it’s a nice extra feature for storage for “stuff” and then also your vehicle if you want to leave one here when buying a vacation home. It obviously gets hot in the summer so it’s nice to have a covered area to leave your vehicle. It’s also a great resale feature on town homes and condos.
One thing with condos or town homes – you do need to consider the HOA costs. Because you are getting a low maintenance place with extra amenities like the pools, spas, fitness centers, community rooms, etc… the HOA costs can be pretty pricey. They will range anywhere from about $150-$500 per month in Scottsdale and a bit less in Chandler.
You’ll also see that in Chandler, you’ll get a little be more square footage for your dollar – but not quite as nice of amenities as you will in Scottsdale.
I’ve lived in Chandler for quite a while and we’re going to be moving to north Scottsdale now – so we’re excited to be a part of the community and all that it has to offer… but we really love the Chandler Ocotillo area. There are some great golf courses, the Chandler Fashion Center Mall is great for shopping… but they’ve also got the San Tan outdoor mall and you’re close to Ahwatukee which has some great shops as well.
The Chandler area is great for investment purposes also – there are a lot of major employers located there and some new ones coming in. GoDaddy is bringing in about 1,500 new employees to Warner & the 101 in Tempe, which is right down the street from Chandler… and then of course you have Intel, PayPal, InfusionSoft and a lot other major employers that are right along the Price corridor… or mini Silicone Valley… at the 101 and Price. So that’s really a solid choice for investments because there’s always a demand for housing and rentals in the area if you decide to go that route someday.
For price points… you can find places from below $100,000 all the way up to multi-million dollar luxury town homes.
If you’re not sure what price range you want to be in… I would recommend communities that were built in 2000 or newer and that have a lot more amenities in the complex but also close by. In today’s market, that will put you in the $250,000 to $500,000 range. In this price range you’re going to be in more of a neutral market or buyers market – it won’t really favor the buyer or the seller in the lower end of this price range… and then of course favor the buyer more in the higher end of the range, potentially making some great deals available with a little equity for your purchase. Some of the subdivisions and neighborhoods that you will get into may favor the seller more because of higher demand or limited homes available.
For this price point, condos and town homes are a good investment… most Phoenix residents will prefer a single family home for some extra space… but we have plenty of locals as well as people out of state that prefer low maintenance to make this a worthwhile investment and a good purchase.
I highly recommend staying in Scottsdale or Chandler for a town home or condo versus Ahwatukee, Mesa, Queen Creek, Tempe or even Gilbert if you’re looking in the east valley. You’ll have a better buyer pool to choose from when you’re ready to sell. You’ll definitely get more space and possibly fancier upgrades if you want to go outside of Chandler and Scottsdale – but in the long run you’re going to have better appreciation possibilities and more buyer interest in the Scottsdale and Ocotillo areas.
There is just more that happens in those areas… so you’re going to draw a larger crowd. And then taking it a step further… north Scottsdale town homes and condos is my preference over central Scottsdale town homes because there’s larger events (Barrett Jackson, PGA tour at the Scottsdale TPC, etc.) that happen in north Scottsdale that will draw the crowds for you when you’re ready to rent or sell.
Hopefully this is some good info for you and you’ll find it valuable when making your selections on where to purchase.
Please feel free to contact us online or call us at 480.442.9809 if you have any more questions regarding Scottsdale town homes and condos or Chandler town homes and condos.