Why the biggest gift you could get this year, is a small but savvy investment!
When many of us think of the typical investment property, we imagine large student homes or spacious Victorian buildings converted into flats. Here in Yeovil I usually recommend 2-bedroom modern terraced houses as the ideal investment property for maximum yields. However it is becoming more the case that the best investments aren’t always about the square footage: for some, size really doesn’t matter.
Small and Unusual Homes
This year has seen a rise in the interest in novelty, or unusually small homes (see TV’s ‘George Clarkes Amazing Spaces’ for example). As house prices and rental costs have continued to rise many are looking for an alternative living solutions.
Cabin’s, renovated London busses, pre-fab and hobbit style homes are all property types that can be bought or built for relatively low costs. The more novel the home the greater its appeal for a wide spectrum of tenants, particularly in the countryside, where there is always something undoubtedly appealing about the prospect of a cosy bolt-hole.
This is also particularly useful as an investment, as during the summer months rents can be increased if it’s reclassified as a holiday home – something that it is really worth thinking about here in Somerset and Dorset! All it takes is a little investment and a lot of vision!
If a property slightly different from the norm isn’t for you and you are looking to start your investment portfolio, but have limited funds, then a garage might be a perfect option for you! A low cost investment, prices start from around £7000 and if chosen based on location, it can reap high investment yields. What’s more, unlike typical property investment, maintenance costs are low or even unheard of.
Park Your Risk
Parking spaces are the ultimate in low cost, low risk property investment. Whether you purchase a parking lot or a singular space, as long as the location is one close to industry, offices or high volumes of apartment living, it will provide steady income. They come with very little risk of property damage and as long as you purchase one in a safe and monitored area, demand for the space should be constant.
If you would like to find out more about smaller investments, pop into Martin & Co in Yeovil today, or visit www.martinco.com and see how it could make a big difference to your income!