Build to Rent
NEW CONSTRUCTION HOMES FOR INVESTORSRenters are increasingly looking to single-family homes for the space, privacy, and amenities that most apartments simply don’t afford. The market has responded with unprecedented growth in rental home construction of late, and with it rising investment in build-to-rent homes.
The Simmering Rental Market is Heating Up
Driven by a significant rise in existing home prices and shrinking inventory, the demand for rental properties went into overdrive in the wake of the coronavirus. And so the historically incremental year-over-year increase in build-to-rent construction surged as well. Everywhere. From wide-open spaces with natural beauty and leafy suburban locales to vibrant downtown areas, build-to-rent communities have been at the forefront of this ascendant rental trend.
Apartment Life Expanded
Have you heard of "horizontal apartments?" It's a recent term for a longtime practice: building rental houses on single-family lots, though duplexes and side-by-side construction are also prevalent with build-to-rent homes. In common, these new homes usually have high-end amenities and are often part of build-to-rent communities in prime locations. Outdoor spaces — yards, patios, gardens, and more — often distinguish these homes from "vertical" apartments.
Direct from Builder to Buyer
From corporations and institutions to individuals who purchase multiple properties, build-to-rent homes attract buyers who are interested in secure, long-term investments. And, as a full-scale development firm, Port City Capital specializes in these ventures.
We turn raw land into connected communities, serving both the needs of the families who call them home and the vested interests that count on reliable returns. How reliable? With longer leases, build-to-rent homes often have less tenant turnover compared to apartments. Plus, rental homes have high occupancy rates that have recently outpaced the already high rate of apartment occupancy.
Regional Growth and Housing Demand
The Cape Fear Region has experienced rapid growth in recent decades with no signs of slowing down. People of all demographics are drawn to our coastal community for the quality of life, climate, economic opportunity, cost of living, and much more.
Data from the U.S. Census Bureau showed that Brunswick and New Hanover County were both in the top ten North Carolina counties for Net Migration Population Growth from 2020 to 2021. Wilmington Business Development projects the Regional Population to surpass 523,000 by 2030.
All these newcomers, from young professionals to families to retirees will need a place to live, increasing demand in already competitive rental market.
Building Wealth Through Real Estate Investment
Appreciating home values help both individual home owners and investors grow their net worth. As reported by the StarNews, Wilmington, NC homeowners “gained more wealth through homeownership than those in any other city in North Carolina” in the last decade, according to a National Association of Realtors report on the fourth quarter 2022.
Two North Carolina cities, Charlotte and Raleigh, also made Business Insider's list of The 10 best cities to become a homeowner, identified as locations where real estate is affordable and seeing high levels of appreciation.
North Carolina Among Top Places to Buy a Beach House
As reported by Fox Business News, North Carolina beach towns represent 4 of the top 10 most profitable markets for beach home purchases. The data was released by Vacasa, a rental management platform, and shows NC waterfront destinations can offer among the best return on a real estate investment.
Why Investors Choose Port City Capital
Focused on the Wilmington, NC area and beyond, Port City Capital offers investor-focused development that makes positive impacts on the undeveloped in-demand locations we help transform. These projects range from communities with as few as five new homes to as many as 100, working directly with some of the biggest and best home builders in the country. With stunning results. Some of our recent projects, including high-end townhomes and single-family residences, display the rich contemporary style and luxury living that today's discerning renters demand.
Could an investment in build-to-rent homes be the next addition to your portfolio? Interested in learning more or discussing ideas you have for a project? Let's talk. You can reach us at (910) 839-8627 or [email protected].
