In order to ensure you get the best returns on your investment you need to choose the right property in an appropriate area. It can take a lot of work but good planning and care will reward you in the long term.
Before you purchase investment properties it is important to have an idea in mind of what you plan in the long term. If you are considering letting the property your big obstacle is ensuring you have tenants for the duration. When the properties stand empty they are not generating an income so you are losing out.
With tenants in mind you should look at areas where demand is high and properties don’t spend long times uninhabited. These are the locations you want to target for your investments because they offer the highest potential for strong, sustained returns.
Another thing to look at before you make a purchase is the rental fees that properties can command. You can get an idea of this by looking at the market conditions and other similar buildings in the same area. It is wise to have a professional conduct a valuation for you so you can determine what kind of returns you can expect and ensure your investment will pay off.
It is always better to invest in types of property that are in the highest demand. Owning a family home in an area that is predominantly apartments may be a bad strategy because the amount of interest it will receive will be lower. This means there is a smaller audience and raises the potential that you may struggle to find tenants.
At Finefair we are committed to offering comprehensive support to clients looking at purchasing investment properties. We work all across Croydon and the Greater London area, delivering personal services to suit the needs of each client. We can help you to decide what kind of property to choose, what areas to target, and the type of income you can expect from it. We also offer lettings services so you can rely on us for the long term.