I've seen people buy houses in odd place hoping they'll make some money from them but when they get no tenants for a really long time end up selling the property to a shrewd investor, making a huge loss in the process. When choosing the "property to let" which will actually line your pockets with some cash then . . . Make sure you buy property is located in a place where there is [or in the near future], there will be a demand for rental accommodation. The property might be slightly more expensive but since getting tenants won't be a problem, you'll start enjoying the fruits of your investment in a very short time.
I've always been keen on areas where there's a university or a hospital. There's no shortage of students and nurses needing accomodation and reasonable rentals close to colleges and workplaces tend to be taken fast. It's also worth keeping up to date with planned developments in your area, such as retail complexes so you can determine whether an area is likely to be popular.
The location is the key factors when it comes to investment in a good location. Also the strategy changes from place to place. It all depends on the kind of location and the way a person think.
I have always heard...location, location, location is everything!...in my area, houses that are near to road and easily accessible, get tenants quite fast unlike ones that are way inroad...also another factor worth considering is seasons...if one wants tenants through out the year, there things one ought to put into consideration...nearness to the road, shopping malls, hospitals, play parks, peaceful neighborhoods...just to mention but a few...if its seasonal...look for schools, beaches...there one can get to rent to students within the school calendar or tourists within a holiday season
I am with you right there diane, location is the most important thing in real estate. A house can worth 10 times more in one location than in another, the exact same house.
Yes it is best to use more money on investing in a place where there is or will be rental demand , other than spending less on proprerty that will have no tenants at all.
That would be a really bad investment. Many people want to live outside the cities, but where does property worth more? Inside most cities, so we should consider that before investing.
