Choosing The Location

Get a Free Quote Main Location Considerations - An Introduction
The truism, 'location, location, location' could not be more accurate when it comes to selecting a property for profit. Deciding on the best location is a consideration that requires a great deal of research and local knowledge. Overlook this vital process at your own peril!

Consider Your Remit
Your ultimate choice of location could vary significantly, depending on the type of person you are trying to target. For example, if you are targeting professionals in the city, being close to transport and amenities will be vital, whereas a young family may be more interested in schooling and proximity to parks and open spaces.

True property investors will make their money by accurately matching the property with the location. A family home in a predominately professional area will not reap the same rewards as a well appointed flat. Similarly, a luxury flat close to a school may not generate the same returns as a larger family property.

Assessing a Location
In order to make money in the property market, an investor will need something unique and, in many cases, this is intimate knowledge of the locality in which you intend to invest. If you are looking to invest in a locality that you do not know well, it is key that you spend considerable time and energy gaining this knowledge so that you can purchase and market appropriately.

Drive around the locality at different times of day. What sort of people do you see in the area Do you see mainly young families, professional couples, older families, retired individuals or students You can gain an interesting insight into the most likely types of properties that will prove popular.

Explore the facilities and the types of shops that are thriving in the locality. Remember, businesses will open in areas that have the highest demand. Therefore, if it is a mainly professional area, you are more likely to see a proliferation of gastro pubs and boutique shops, whereas a more family orientated area has a wider selection of convenience stores, child friendly entertainment outlets and childcare providers, etc

Matching Your Remit with the Location
There are two different approaches to this task. You could either select the type of person or property that you are targeting and then select the location, or alternatively, select the location and then focus on the property and people that you intend to target.

In reality, it does not matter which approach you take, provided that you match the three factors in a considered and logical manner in order to make the greatest possible return from your investment.

Summary
Bullet Point Location is one of the most important things to get right when it comes to property investing;
Bullet Point the correct location for different people will vary widely and it is important to be mindful of your target audience when selecting location;
Bullet Point understand your location, before investing; gather as much information as possible by visiting the area and assessing the facilities currently on offer.

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