If you’re interested in investment properties, then you need to ensure that the property you choose is near local points of interest. If you don’t do so, then the chances of renting it at a high price would be lower; hence, your profits would be less and finding renters can become complicated. We know that this is a scenario in which no one would want to find themselves. Therefore, you must know the most popular local points of interest to ensure the house you’re going to purchase is near some of them.
Local points of interest are one of the things to know before buying an investment home. If you make sure that the property is surrounded by several points of interest, then we can assure you that your investment property would be a hit. Bear with us, while we describe the places that most people want close their houses.
Large green areas are one of the most valued spaces near a property. The reason for this is simple; nature makes people feel relaxed and peaceful. Also, you can take your kids, pets or just go for a walk at any time of the day. Some studies have shown that the value of properties increases from 8% to 20% if a park is nearby.
So, buying a property to rent close to a park would be a must-do. With that, you’ll ensure that the value of your home will increase and that people would be more willing to rent your property.
Have you ever lived in a property that doesn’t have any restaurants nearby? It doesn’t sound like a true nightmare, but having to take the car and drive somewhere else to eat doesn’t sound truly comfortable. If you choose to buy a property near to a street that has different restaurants, then you’ll have more people interested in renting it. This won’t be only a matter of comfort and social life, but also being near a “hotspot” can lead the price of the properties nearby to rise.
So, whenever you’re choosing the investment property, make sure to give a good look at the neighbourhood. If it has plenty of good-quality restaurants, then you’ll be making a good call. Make sure to highlight that to your potential renters. We can assure you that this will catch the eye of more people.
- Entertainment and nightlife
Having places near your property for entertainment and nightlife is a must. However, this is a tricky point of interest for some potential renters. If the condo or house is in the same block as the bar, club, etc., then it will be hard to find a tenant. Remember that nightlife noise can decrease the quality of life of your renters, so you have to be careful with this.
Make sure to have this type of point of interest near your property, but not that close. If you have them a few blocks away, it will be outstanding. That way, your renters would have easy access to nightlife places, but their quality of life would not be affected by it.
After identifying the points of interest, it will be easier for you to find an investment property that would be attractive for potential tenants. Don’t forget that there are other important things to consider too. For example, would you want to purchase a new property, or do you feel comfortable buying a renovated one? Those are things that you should think about before starting the quest for the perfect property. are you want to rent a property visit. Alviso apartments for rent
Also, think about the number of square feet you need, or what would you like the property to have. And, of course, you’ll need to set a budget that will allow you to narrow your search. Before signing any contract, don’t forget to ask these questions:
- For how long the property has been on the market?
If you think that you have to find the right house, but it has been on the market for years, then you should go and find another property. There could be plenty of reasons why the property is not selling, and you should discover them. Spending your money in a house or condo that no one will want to rent would be a failure. Even if you feel odd asking this question, it’s necessary to do so.
If the reason why the house is not selling is manageable, then go for it. But if you think that fixing the issue will require more money or it’s not remediable, then withdraw from that sale.
- Why the property is on sale?
You must ask this question to the owners or the real estate agent. However, they’re not obliged to respond. But if you’re lucky and they do so, you might find out useful information for your offer. For instance, if the owners are desperate to sell the property because they need the money, then you might purchase it at a cheaper price.
If the real estate agent is not helpful to answer this question, then you can go ahead and ask the neighbours.
- The owners lived there for a long or a short period?
If the owners moved for a short period and know they’re moving out, then something might be wrong with the house. To avoid spending your money on a property that might not give you the best profits, you should investigate this. For sure, they might be other reasons to move out besides having troubles with the property, but if there are problems with the house, then you should know before buying.
Things would be easier for you if you are aware of what you are dealing with. So don’t be shy to ask further questions to the real estate agent.
Now that you have decided to take the step into investing in residential real estate and you know how to choose the right location, then it’s time to go and search for the perfect property. Remember that it is a matter of patience, so don’t try to hurry. Making decisions in haste can make you seal a bad deal. So, go ahead and find a real estate agent that can help you to purchase the best property for you.
Erika Rhein, a professional writer and blogger by profession. I write on various niches, however, I prioritise writing on (related to blog you are writing, e.g. home improvement, lifestyle, health etc.). I always strive to provide users with useful and informative articles in a readable format. I aim to achieve a difference through my writing.