Discover what factors are crucial to determining the future growth and potential income of your next investment property.
The One Central Model discusses the micro factors we take into account when choosing top property performers.
First, you need to carry out extensive checks to ensure the design, quality, and value of these companies all reflect in the finished product. This includes evaluating their experience, past, and future projects, reputation in the market, and transparency.
Next, you need to research areas that are populated or are witnessing a surge in population growth as these areas host a greater demand for real estate.
Investments by both the public and private sectors in the area are among the most accurate indicators of future demand.
If the private and government sectors are investing in a particular location, then it is a strong signal that the area will see a lot of growth in the future.
You should also invest in an area that has a vacancy rate under 3%.
Doing this ensures that you will rent out your property quicker as it shows a high demand for rental properties in the locale. This would also show that there is a shortage of housing in this suburb.
Find a property that has easy access to all the necessary amenities for tenants.
This should include schools, supermarkets, medical centers, parks, gyms, and shops. These are essential to entice tenants in an area that people want to be a part of.
Finally, you need to decide which of these is most beneficial towards your end goal. We would recommend a good balance of both. The property you select will fall into either of these categories. So it is essential to carry out good research before choosing a property.