The Greater Phoenix Area is the perfect location for those who prefer a laidback lifestyle while remaining close to Arixona’s must-try experiences. In fact, many of the luxury communities in Greater Phoenix boast a quiet, suburban-like atmosphere and a variety of grand homes that reflect the stature of its residents.
Table of Contents
- Luxury Communities In Greater Phoenix Area
- Why Invest In Greater Phoenix’s Luxury Communities
- How To Get Started
- Luxury Home Buying Tips
- Find Your Next Luxury Home With Carol Royse
LUXURY COMMUNITIES IN GREATER PHOENIX AREA
Fancy yourself living in one of these exclusive neighborhoods? Let’s take a look at the luxury communities in Greater Phoenix and what you can expect from each of them.
Stellar Airpark is widely known as “America’s Most Beautiful Airpark”, but did you know that it’s an exclusive neighborhood as well? Indeed, the sprawling luxury homes in this community bring its residents close to the popular privately owned, public-use airpark. Because of its importance to the residential and commercial property owners in the community, the airpark has been dubbed as an integral part of Chandler, Arizona, where it currently stands.
The airpark began as the humble vision of a cotton farmer in Maricopa County — a vision that materialized back in 1969. Fast forward to today, Stellar Airpark is now a sprawling collective of East/West taxiways, the runway itself, and other infrastructures, including luxury homes and commercial establishments.
Part of what makes Stellar Airpark one of the noteworthy communities in Greater Phoenix is the sense of camaraderie and unity among its residents. When the airpark was in danger of closing down back in 1990 due to financial restraints, its residents banded together to save it from closure.
This was how the Stellar Runway Utilizers Association (SRUA) was formed. Every year, Stellar Airpark commemorates the herculean effort of the SRUA with “Stellar Day,” the community’s annual celebration marked by stunning displays of aircraft and overflowing food.
If you’re looking for a supportive community, and if you happen to be an aviation enthusiast, Stellar Airpark is the place for you. Here, you’ll find an array of spacious luxury homes of varying styles and sizes — you won’t run out of choices for your Stellar home.
Dating back to the early 1900s, Arcadia is the only neighborhood to emerge from the central Salt River Valley. Today, Arcadia stands as one of the most desirable communities in Greater Phoenix, and its luxury homes for sale are almost always considered prime properties.
Part of what draws prospective homebuyers into the neighborhood is how it stands out from the urban sceneries of Phoenix. Arcadia seems to be enclosed in nature, with the lush green landscapes surrounding the neighborhood. This is not surprising given that Arcadia was once an orange grove with its own irrigation system.
Nature also draws the boundary throughout the neighborhood: Arcadia is bordered to the north by Camelback Mountain, and to the south by the Arizona Canal. All around the neighborhood, you’ll see citrus trees that bring shade against the Arizona summer heat.
Though nature is abundant in Arcadia, it doesn’t mean its residents are far from the city life. In fact, downtown Phoenix is just a short drive from the neighborhood. Also just minutes away from Arcadia is a plethora of shopping and dining options at the Scottsdale Fashion Square and the Biltmore Fashion Park.
Homes that were built during the early days of the community still stand today. Through its continuous development, however, you’ll now see modern homes in Arcadia as well.
The neighborhood is made up of single-family homes set on large lots, which are ideal for raising a family and couples who wish to start their own.
The neighborhood also promotes camaraderie among its residents through annual events and festivities. Enjoy various treats at the annual Arcadia BBQ Picnic, which brings together the neighborhood for a day of games and other fun activities. Meanwhile, The Arcadia Autorama is another local activity to look forward to if you enjoy gazing at awe-inspiring cars.
“Surrounded by beauty, connected by community” is how the neighborhood of Las Sendas describes itself. Located in the city of Mesa, it is a master-planned community that’s all about fostering connections among its residents.
Like Arcadia, nature surrounds the neighborhood. Las Sendas stands on the foothills of Usery Mountain Regional Park and is bordered by Tonto National Forest. What awaits new residents are scenic views of the mountains and valleys in a desert environment.
In Las Sendas, you’ll find over 3,400 homes of varying styles. The neighborhood also strives for inclusivity, as evident in its multigenerational and diverse residents. Everyone is welcome here, and Las Sendas makes your safety and satisfaction its top priority. Just look at the wealth of its amenities, which include trails, parks, and its very own golf course and spa.
Recreational activities in Las Sendas are as luxurious as their homes. You can while away the time golfing at the expansive Las Sendas Golf Club, where you’ll find a golf course Robert Trent Jones, Jr. and a sports bar overlooking the valley.
You can also relax at the Las Sendas Spa & Fitness Center, which you can find at the Trailhead. Here, you can rejuvenate with a wealth of spa treatments or focus on your fitness with group classes. New residents get a two-week complimentary pass to the fitness center.
More importantly, you can expect to enjoy these amenities with the rest of the community in Las Sendas. You can join one of the resident-led clubs that fit your interests and hobbies. There are also workshops where you can learn new things with your new neighbors. If you’re looking for tight-knit communities in Greater Phoenix, Las Sendas should definitely be on your list.
Another master-planned community in Chandler, Ocotillo immediately strikes newcomers with its simple elegance. This spacious neighborhood – with its manmade lakes and winding streets surrounded by trees on both sides – offers peace and serenity from the bustling city life.
Ocotillo sprawls across 1,900 acres, with an eclectic mix of luxury homes, condos, and townhomes. Single professionals will love its laid-back atmosphere, families will appreciate its safe spaces, and retirees will adore the peacefulness of their surroundings. There’s something for everyone at Ocotillo.
While it’s easy to disconnect when you’re in Ocotillo, the neighborhood is close to several high-end establishments that suit a lavish lifestyle. For one, you can visit the nearby Chandler Fashion Center for shopping or a night out at the theater. You can also explore the historic downtown Chandler or walk around the marvelous Dr. A.J. Chandler Park.
Of course, there are also various activities that you can enjoy within the community. You’ll find several spaces for outdoor recreation, such as community pools and tennis courts. Also among these amenities is the famed Ocotillo Golf Club, where you can enjoy 27 championship golf holes designed no less by Ted Robinson.
Want to make the most out of the Phoenix weather? Desert Mountain, the “sanctuary in the Sonoran Desert,” is the place to be. Though the name may suggest a dry and uninhabitable environment, the neighborhood is the exact opposite. Desert Mountain made the most out of its surroundings and created a space of elevated luxury like no other.
The same as many other luxury communities in Greater Phoenix, Desert Mountain is a golf community. Avid fans and players of the sport will certainly love living here as they can have their pick among the six Jack Nicklaus Signature Golf Courses and play to their hearts’ content.
Interestingly, Desert Mountain has the world’s biggest collection of private Jack Nicklaus Signature Golf Courses – a fact that is not at all surprising because the community’s developer, Lyle Anderson, is a friend and business partner of the golf legend himself.
Spanning over 8,300 acres, Desert Mountain hosts an impressive array of luxury homes, ranging from custom homes to elegant courtyards, all in a group of secluded villages. It’s no wonder, then, that Desert Mountain is one of the most desirable luxury communities in Scottsdale and in the Greater Phoenix area.
Being a resident of Desert Mountain also means living close to the best experiences life has to offer. The neighborhood has 10 different restaurants and grills presided by an award-winning team and their culinary director Chef Bertrand Bouquin. Choices are aplenty here, from Southwestern dishes to seafood specialties.
Those who wish to take up a more active lifestyle will also love the neighborhood’s private trail system that brings them close to the eastern slope of the Continental Mountains. A fitness center keeps you in shape and a spa offering a wide range of services guarantees pampering at the end of the day.
WHY INVEST IN GREATER PHOENIX’S LUXURY COMMUNITIES
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Aa a long-term investment, luxury real estate remains a safe bet for 80% of high-net-worth individuals, according to an October 2022 trend report.
Luxury homes, like other residential properties, rarely lose their value. But compared to regular homes, luxury homes tend to have better returns on investment, especially if the property has high-end features and amenities such as home automation and a private pool.
These returns could get even bigger if you decide to rent out the property. You can generate passive income through rentals before putting the property in the market again. You can even capitalize on the neighborhood’s amenities, along with your home’s own set of features, to make the property more desirable for short-term tenants. Generally speaking, short-term rentals on luxury properties could generate anywhere between $1,500 to $10,000 a month.
Should you choose to make your luxury home available for short-term rentals, you could also make the most out of the tax advantages. As you’re using the property as a business, you can get tax write-offs and deduct expenses from your taxable income. Other deductions that you can claim include property taxes, repairs, and even mortgage interest.
Apart from these benefits, you can enjoy the prestige of being the owner of a luxury home. More than the income potential, buying a luxury home in any of the exclusive communities in Greater Phoenix means prioritizing your comfort and welfare and that of your family.
HOW TO GET STARTED
Do you have what it takes to flip a luxury home?
If you’re set on entering the luxury real estate market, keep in mind that you have different options. As the aforementioned communities in Greater Phoenix show, luxury neighborhoods usually feature a mix of single-family homes, townhomes, mansions, and condos.
There are different ways you can maximize your luxury real estate investment, depending on the type of property you go for.
Renting out a luxury home or condo
As mentioned earlier, you can create a source of passive income by turning your luxury home into a rental property. However, there are certain factors to consider here. Will you be able to attract enough tourists or vacationers to generate significant profits?
Location matters the most when finding the right luxury home or condo for a rental. Even if your property has a desirable set of features and amenities, short-term tenants won’t be attracted to it if it’s far from tourist attractions or has a poor transportation system. You’ll want your future property to be located in a strong market, such as the golf communities in Scottsdale.
Flipping an existing luxury home
If you’re looking for a quick profit, you can also try flipping an existing mansion or luxury home. Unlike your usual home-flipping projects, however, remodeling a luxury home has the potential to generate a higher return on investment. That’s because luxury homes are generally better maintained than an average home, lessening the costs of rehabilitation.
However, flipping a luxury home requires specialized knowledge, especially when it comes to planning and executing high-end improvements. The property’s existing design, condition, and architecture might also limit the range of modifications that you can do.
Creating a custom-built home
Want to create something as close to your dream home as possible? You can let your imagination run free and create a custom-built home — one that reflects modern design principles and is equipped with the latest home technologies and features.
This is easily the best option if you’re going for the biggest possible ROI. When done right, you can sell your custom-built home for a handsome price, especially if it has all the features that high-end buyers want.
Keep in mind, though, that there are some points to consider when building a custom home. For one, custom-built homes take longer to finish, and you’ll need to have a longer time frame before you can sell it to the market.
You also have to be wise about your choices and find the perfect balance between understated sophistication and bold personality. Though high-end buyers appreciate homes replete with high-tech features, they’ll also look for what makes the property unique. Many would gladly place a premium on properties that offer something that makes them stand out from the other options on the market.
LUXURY HOME BUYING TIPS
Consider the thriving market of digital nomads
Now that you know your options, it’s time to get into the thick of the luxury real estate market. Here are some tips to get you started.
- Identify your goals. Do you plan to use the property as a long-term residence, or will you use it to generate income? If you choose the latter, will you rent it out or sell it after improving its condition? Knowing your goals is the first step in determining the best option for you. Renting out your property is the best choice if you’re looking to generate steady, long-term income. Flipping or creating a custom-built home, meanwhile, is the route to take if you’re after a quick profit.
- Determine how you’ll finance your purchase. You know you’re in for higher price tags, so consider how you will finance your purchase early on. It is common among high-end property buyers to take out hard money loans despite their higher interest rates because of their flexibility and shorter repayment periods.
- Choose the right market. You’ll want to invest in a location with a strong market, a stable economy, and plenty of job opportunities. For those who plan on renting out their properties, you’ll also want to consider the year-round and off-peak traffic in the area. Or cater to the burgeoning number of digital nomads or remote workers in the US and around the world. The communities listed above are just prime examples of desirable markets.
FIND YOUR NEXT LUXURY HOME WITH CAROL ROYSE
Your next home could be in one of the most desirable communities in Greater Phoenix. Let the Carol Royse Team help you navigate the area’s luxury real estate market. With over 30 years of industry experience, Carol Royse and her team of 25 real estate professionals have helped countless buyers find the right properties that fit their needs and goals.
Call the Carol Royse Team at 480.776.5231 orcontact us hereto find your next luxury home in Greater Phoenix.