With its attractive tax rates, world-class golf courses, top-notch culinary experiences, and private airport, it’s no mystery why millionaires from across the nation and the world are making Scottsdale their primary residence. Here, The Agency Arizona’s Allison Cahill explains why this Grand Canyon State destination is turning into the ultimate hotspot for high-net-worth individuals.
What are a few key factors that make Scottsdale an attractive destinations for high-earning individuals?
High-earning individuals have come to Scottsdale for years, but now more wealthy individuals are flocking to the region because they are looking to leave states with high state income taxes and areas with high property taxes.
Arizona’s state income tax is a graduated tax rate between 2.59% to 4.5% which is very appealing to individuals in high-tax states such as California, New York, Oregon, and Minnesota. Our property taxes are between 0.6% to 1.1% of assessed home values as compared to counties in Illinois, California and New Jersey that have property taxes in excess of 2%.
And then there is the convenience of living in Scottsdale. Our freeways don’t have heavy traffic and we have a local private airport (Scottsdale Airport) for private and corporate jets. Lastly, Scottsdale offers plenty of recreational activities—it’s home to many world-class golf courses, country clubs, and high-end culinary experiences.
What cities or countries are these high-net-worth individuals coming from? And what are they seeking in Scottsdale?
They come from Southern California, the Bay Area in California, Seattle, New York, Chicago, Canada, Mexico, the United Kingdom, Germany, and the United Arab Emirates.
They are often attracted to the business-friendly environment of Scottsdale, the growth of the tech and healthcare industries in the Greater Phoenix Area, and also the comfortable year-round lifestyle that Scottsdale offers.
So what is the lifestyle like in Scottsdale?
As mentioned before, the culinary scene is excellent. Add to this some great luxury shopping, beautiful outdoor living and easily accessible local events — it’s a recipe for a desert paradise. Plus, the city is framed by the beautiful backdrop of the McDowell Mountains, Camelback Mountain and Pinnacle Peak—such a beautiful view every day!
Personally, my two passions are golf and hiking. After moving here 18 years ago from the East Coast, I was in awe of what a dream Scottsdale was for golfers and hikers alike.
What stands out about the local golf, country club and equestrian scenes?
Scottsdale has over 20 public golf courses, including my favorites, which offer 36 holes:, Grayhawk Golf Club, the TPC, and Troon North. These are no ordinary courses—many have hosted PGA tournaments. They all offer big mountain views, desert landscapes, very challenging rounds and a high-end golfing experience. The majority of the golf courses in Scottsdale (public and private) are exceptional.
There are approximately 19 private country clubs in Scottsdale. Some of the most exclusive clubs include Desert Highlands, Desert Mountain, Silverleaf, DC Ranch, Estancia, Whisper Rock, and Pinnacle Peak Country Club and Mirabel. They are not only highly regarded for golf, but most also include tennis, pickleball, fine dining options and spas.
And let’s not forget about Scottsdale’s McDowell Sonoran Preserve. It is one of the largest urban preserves in the U.S. covering approximately 30,500 acres with approximately 200 miles of trails for hiking, biking and horseback riding. The Preserve has a unique desert ecosystem with a variety of native plants, and desert animals.
Scottsdale also has a strong equestrian community, especially in the Arabian horse world—Scottsdale is even known as the Arabian horse capital of the world. The city hosts the Scottsdale Arabian Horse Show each year, which is the largest and most prestigious Arabian horse show in the world.
Car collectors are also prevalent in Scottsdale. There are numerous local private auto clubs where you can not only store your multiple cars, but socialize with other car enthusiasts. Scottsdale is also home to multiple car auctions each year, including the famed Barrett Jackson.
Are Scottsdale’s high-net-worth buyers seeking full-time residences or second or third homes?
In the past, many would choose to have a second home in Scottsdale and have their primary home elsewhere. However, now, given our low income taxes and property taxes, many have made Scottsdale their primary residence, spending at least 186 days of the year here.
What are some of the most sought-after neighborhoods in Scottsdale for affluent buyers?
There are many sought-after neighborhoods in Scottsdale, each with unique amenities. Desert Highlands and Desert Mountain are both golfer’s paradises; they both have private country clubs, golf courses and spectacular tennis clubs. DC Ranch and Silverleaf have private country clubs with desert courses and are nestled in the McDowell Mountain Range. They offer nice walkability with miles of paved and unpaved trails that lead to a variety of dining options, coffee shops and boutiques. Pinnacle Peak Country Club Estates is another beautiful neighborhood with more of a traditional Midwest-type golf course and lifestyle. If a buyer is looking for privacy with large desert lots and beautiful views, Canyon Heights, Lost Canyon and Pinnacle Heights are all very luxurious and serene.
For equestrians, you have Granite Mountain Ranch, Los Gatos, the Cactus Corridor, and Paradise Valley Farms. If a buyer is seeking walkability, Gainey Ranch and McCormick Ranch are located close to miles of greenbelt with walking and bike paths that lead to coffee shops, dining and all the fun spots in town.
What home amenities, features or design elements are millionaires seeking in Scottsdale?
“Organic modern” is a popular design for these individuals. What I see most is buyers wanting views, privacy, outstanding pools and a resort-style backyard. They also want split floor plans, casitas, and top-of-the-line kitchens, as well as dedicated office space and home gyms. Wine rooms are very popular, along with garage space that can house up to 8 cars. Buyers also look for guest spaces that have separate entrances and patios.
For more insight into current market trends and the world’s most exciting real estate destinations, browse our other recent In the Knows: Buying Real Estate in Cape Cod,
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