What's coming to North Dallas?
News of a Universal Studios park coming to Frisco took the market by storm. This, plus a decrease in rates (resulting in a nationwide 28% increase in mortgage apps) created multiple offer scenarios for much of the metroplex.
Yep. Train is moving again.
Developments like this normally come with a few kinks in the affected submarkets. Neighborhoods with no HOA will be favorable for investors looking to purchase airbnbs. Do you want to live near a theme park or are you unaffected by it? Will it become more difficult to sell down the line? Or easier? And don’t forget to think about what additional businesses this will bring nearby!
It’s a lot to chew on, but majority of studies show that a nearby theme park increases home values in the long run and DFW has a lot more coming to the area too.
Image Courtesy: Universal
Though the Universal Studios theme park in Frisco is still an ongoing development, there are a few ways to take advantage of the growth in the real estate market in Dallas today:
Invest in properties near the airport or the theme park: Properties located in the vicinity of these major developments are likely to experience a significant increase in value over time.
Look for properties with rental potential: With an increase in tourism and job opportunities in the area, there will likely be a higher demand for rental properties, providing investors with an opportunity for steady cash flow. Have you been dreaming of your own airbnb?
Consider buying pre-construction: Pre-construction is basically the stage before construction starts. (Duh, right?) Think of when you buy a lot. As the area continues to grow and develop, buying pre-construction properties can provide investors with an opportunity to own a property at today's prices, but with the potential for appreciation once construction is completed.
Research and Network: Research the area, and network with real estate agents, developers, and other investors to stay informed of the latest developments and opportunities in the market. If you’d like this information gathered and delivered to you, sign up for my bi-monthly newsletter.
Let me know what your thoughts are! How do you feel about this new theme park in DFW?