Coronado is as great of a place to sell a home as it is to buy a home. Between the exceptional quality of life, the beautiful Southern California coastline, the small beach town atmosphere, and the big city across the bay, there is never a shortage of renters and buyers looking to get their foot in the door just like you did years ago. Property values here typically double every 7-10 years, thanks to Coronado’s vacation appeal and demand.

Keeping Your Coronado Home as an Investment Property

Most people first buy a home in Coronado to live in it and soak up the island lifestyle. When it comes time to move—whether because of military stationing or simply because it’s time for something new—they rent the home out. Since Coronado property appreciates at a rapid rate, they are able to enjoy a consistently solid and growing revenue stream from their rental property.

Most communities have either high rent or high appreciation; Coronado has both. With the appreciating value of your investment property, you can eventually sell it and perhaps expand your portfolio of properties. One of our clients recently sold their Coronado investment property for $1.2 million and bought an 11-unit apartment complex in Idaho, tripling their rental revenue.

Selling Your Coronado Home: Is it Time?

Selling your Coronado home can be an intimidating decision with many psychological roadblocks. How do you know it’s the right time? Clients who end up happy with having sold their home usually have some combination of the following:

  • An empty nest
  • Unused space
  • A number they can’t turn down
  • A desire for more financial freedom

For those who decide to sell, a high return can typically be expected. Another one of our past clients bought a home in Coronado for $60k in 1960. In 2010, the home sold for $4.5 million. If you’ve been living here for quite a while, you might be surprised at what your home is worth.

Downsize and Diversify

When you’re selling your current home and buying a new home on the island, consider purchasing a smaller home. “Downsizing” often carries negative connotations, and yet it’s rarely a bad thing. A smaller home is trendy, cozy, economical, and often barely noticeable for those who live the active, outdoor Coronado lifestyle.

If you buy a home for less than what you sold your previous home for, you can take the extra money and invest it into another rental property, either here or in another state. All the while, you still have your anchor down on the island you’ve grown to love.

The Possibilities That Await

Your Coronado home is the ultimate dream catcher. Whatever your vision may be, strategically leveraging your prized property can allow you to:

  • Visit family all over the U.S. and world
  • Travel anywhere, anytime
  • Afford new luxuries
  • Invest with peace of mind
  • Take up a hobby
  • Start a business
  • Sip a cocktail and enjoy life right here on Coronado Beach!

Work with Local Experts

Don’t count on Zillow or Trulia to give you a reliable estimate of what your home can fetch on the market. The previously mentioned client who sold their home for $4.5 million got a “Zestimate” (Zillow estimate) of $1.2 million. Meanwhile, a different client had a discrepancy of nearly $3 million between their Zillow and Trulia estimates.

If you’re thinking of positioning your Coronado home as an investment or financial sparkplug, Del Coronado Realty can help. Our team has decades of experience in the Coronado market. Call us at 619-437-1888, or visit our offices in the iconic Hotel del Coronado at 1500 Orange Avenue.