The Potential Relocation Of Our Company

1278 WordsApr 2, 20176 Pages
The purpose of this memo is to inform you of the potential relocation of our company. I will analyze the Plano, Texas market compared to our current Boca Raton, Florida location. I will review important aspects that will determine our decision and its impact on our clients going forward. After each location is evaluated, a recommendation will be presented in which direction to take our company in the future. Problem: Where Is the Best Location for Our Company? There are several factors to consider when choosing a location for a real estate property: Neighborhood status, proximity to amenities, scenic views, climate, future growth of the area, fees and tax laws. All these are major factors for residential property valuations. Boca Raton has…show more content…
The surrounding areas and amenities also play a major role in property value. Today, people want to be near places with great food or night life, as well as maybe have a local pool or gym. Many neighborhoods and communities are building these to entice possible buyers to their properties. • Fees/Taxes: This point includes home owners’ association fees, property taxes, income tax, mortgage rates, etc. o Understanding property taxes and fees are an important part of real estate investing. HOA fees are hard to avoid if living in a community, however they tend to have a wide range so it is important to know what you are getting for money. Typically, HOA fees are a bad thing when investing because it takes away from your monthly cash flow, however if the community is well kept and offers great amenities to your tenants then possibly the home owner can charge more for rent than initially expected. Property taxes also add up if not factored into your initial investment. The current property tax in West Palm Beach County is 1.311% vs 2.173% in Dallas County. (Smart Asset, 2017) • Growth of area: Future plans for the city and percentage of development. When investing, it is important to be in an area with high growth and development. o Both areas are top ranked in growth. Projected growth in Dallas by 2020 is 31% vs 26% in West Palm Beach. (Sharf, 2017) Discussion: How Do the
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