Location, location, location. Three small words that can transform your property investment decision, says Belvoir.
Belvoir Aberdeen’s advice for helping to decide the best location for a property investment includes:
1. Only decide on where you want to invest after thorough research.
2. Do not make a decision based on the look of the property alone. Just because it appeals to you, it will not necessarily be a good rental investment.
3. Providing tenants with a quality, well-maintained property for them to call home carries responsibilities. Only work with a local agent that you have checked out, trust and who has gained all the relevant professional industry accreditations.
4. Remember that big is not always best. A one or two-bedroom unfurnished apartment can often yield a better return than larger, four-bedroom furnished houses. It’s all down to location and the type of tenant you are targeting.
5. Overly high “yields” – or returns on an investment – can sometimes indicate hidden issues and may not necessarily lead to a good investment.
6. Beware of “buying cheap and paying dear”. If a property is located in a low-quality area it can increasingly become run down – attracting the wrong type of tenant and achieving poor long-term capital growth.