Key Decision Makers for Buyers and Renters
When searching for a property to rent or buy, most home hunters already have specific criteria in mind when selecting the location and general area. Certain individuals will have a list of facilities and features that they consider essential and some that they consider merely desirable. As a vendor, it is, of course, essential that you can match these important criteria. But, if you can also provide the factors that are considered desirable, then your property will be chosen in preference to other properties that do not offer those extra facilities and amenities.
Certain factors will always be important such as safety, low crime rates and a pleasant atmosphere. Most individuals appreciate easy transport links, both rail and road. In addition, local facilities such as pubs and convenience stores will almost invariably make it on to the 'highly desirable' list.
Almost everyone prefers to avoid areas that are considered to be dangerous or noisy, although the importance that is put on noise will depend on the individual. A group of students, for example, is less likely than a young family to be concerned about the noise from surrounding bars, etc.
Poor access almost always puts people off, particularly if the property is located up several flights of steps or is inaccessible by road. With the exception of those seeking the rural idyll, good public transport links within one kilometre will be on most people's ¡¥essential list'. Bear in mind that although you, personally, may not see a problem with a tube or train station that is 1.2 kilometres away from the property, your potential renter or buyer may have set themselves a one-kilometre limit which would mean that your property gets overlooked. Setting this sort of limit is very common for those looking for property and an investor should be aware that for every 100 metres they move away from a station, they are potentially limiting their appeal. Bus routes, although useful, rarely carry the same weight as a handy train or tube station.
Limited Appeal Locations
Certain locations will not necessarily deter property seekers, but less desirable locations may limit your market. These include locations very close to amenities such as pubs or shops that may be perceived as noisy and those close to facilities such as hospitals or schools that might suggest traffic congestion at key times. Inevitably, some people will actively seek out these locations, including key workers, young families and students. But, if you are a property investor, selecting this type of location may result in your property having limited appeal and, therefore, not being able to command the highest possible prices.
Property investors should try to achieve as many highly desirable features as possible when selecting the location;
certain factors, such as good transport links, are almost always viewed as positive;
factors such as high crime levels almost always have a negative impact on choice of location;
areas with limited appeal may attract a certain type of individual but, equally, may reduce the widespread desire for a specific property, thus affecting the speed with which you can sell or let the property.