When buying an investment property do you just look at the property itself to gauge the suitablity and rental demand? Or do you look at the local area to see the standard of other properties in the area?
Well have you thought about the local infrastructure issues?
Here are some that we feel you should address before making that purchase:
Does this property have good transport links to major parts of the city? Saving a tenants fuel in their car is great, as the cost of running a car is becoming ever greater.
Is there a local school? Getting a family to rent your property close to a school could equal a long let, securing your rent for a longer period of time.
Is there an easy commute to other major cities? It maybe cheaper for them to rent and commute, then to rent a property in the area they work in.
What type of parking does the property have, if any? With most households having at least one car we feel this is a major question and can, in the case of a flat, fetch higher rental figures.
So here at Martin and Co we feel that it's right to say its not which city should I buy in, but which part of the city is best.
For more advice of areas of Southampton and the private rental sector call Martin and Co Southampton West on 02380 988881.