If you’re an investor or you are buying a home but plan on selling it in the near future, what are some factors to consider for the biggest return on your investment? The main factor to consider is location. You always hear the adage “location, location, location” and in real estate it’s very true and very important. Here are some things to research before buying your next investment property or home:
· Starting simply - where is the house located within the neighborhood? Is it on a cul de sac where traffic is low, or on a busier street? Homes in lower traffic areas such as cul de sacs are always more appealing to young families.
· What is the average age of the property owners in the neighborhood? Neighborhoods with mainly older home owners will not as readily attract buyers with young children as neighborhoods with younger families.
· What are the prospects for future government and commercial developments in the area? Will any of them help appreciate or depreciate your potential investment? Do the schools in the area have a good reputation? Would the local stores, parks and other amenities be attractive? It pays to do a little research in the area in which you are planning to buy.
These are just a few things to think about before you buy your next investment or (short term) house. It really is all about the appreciation of the land and not necessarily the style or appearance of the house. Give ChangingStreets.com a call and our experienced agents will guide you whether you're an investor or just in the market to buy a new home.