If you’re looking to invest in property in the UK, you probably already know the single most important factor influencing your search – location. Of course, it’s important to find the right buy-to-let property for sale, but get the postcode wrong, and it could have big impact on your overall profits.
However, identifying the right place to buy isn’t always as straightforward as it seems. A number of factors determine how desirable a place is to tenants – and it’s also important to know who you’re trying to target. Here’s a useful guide to help you get the location right.
Top Questions About the Location
- Is it in a desirable or upcoming area? Make no mistake, the desirable areas are called that for a reason – they’re in hot demand. However, if you purchase in a well-regarded location, you’ll probably pay a premium for the privilege. Savvy investors tend to look on the outskirts of desirable areas, where property prices are considerably less – or even better, try to identify upcoming areas that might be the desirable locations of the future.
- Is it near transport links? Virtually every type of tenant, from students to ‘silver renters’, value good transport links. Commuters particularly value train stations that link them to their place of work, and families and students often look for bus routes to town or university. If it’s within easy walking distance, that’s a definite plus.
- Are there amenities close by? Are there local shops nearby? What’s the local pub like? Are there any other attractions, such as a football ground, a sports centre or a community hall? Good proximity to nearby amenities is generally well regarded by tenants; the exception being those who are actively seeking a rural property that’s ‘away from it all’ (but they’re in the minority).
- Is it a town or city ‘on the up’? Many of the UK’s towns and cities are experiencing regeneration at the moment, which invariably drives more people to the area. Find out if your chosen location is scheduled for any serious redevelopment or regeneration – as this could mean greater tenant demand, not to mention an excellent chance for capital growth.
- What’s the surrounding area like? What are crime rates like in the near vicinity? Does it feel like a ‘safe’ environment? Are the streets clean? And, what do the surrounding properties look like? Try to see it through a tenant’s eyes – if it looks scruffy, poorly maintained or dangerous, it’s unlikely to appeal to anyone.
Where are the Best Property Investment Opportunities?
It’s the question that every person investing in UK property wants to know – where is the ideal place to look for buy-to-let property for sale? Thankfully, help is at hand. The Buy2Let Shop are a team of specialist property investment agents, who are focused on finding you the best property, in the most profitable location.
With extensive knowledge of property investment in the UK, we’ll assist with every aspect of your property search, and can even help with buying a house at auction. To find out more, simply visit The Buy2Let Shop website today.