When choosing a UK investment property, one of the majorly important aspects or features that should be given attention to would be the location. As most people would say, location is king and for good reason. It can easily affect the value of a real estate asset and even spell its demand.
But what exactly should we look for in a UK investment property in terms of location? Allow us to get into the specifics as you read through this article.
Whatever type of UK investment property you’re setting your sights on, convenience should always be present. For instance, opt for a location that allows ease in transportation whether it is by car or by public commute. There should be a designated parking space too, is easy to locate and is in close proximity to significant establishments. Of course, such establishments (e.g. schools, offices, hospitals, malls, etcetera) will depend on the owner’s lifestyle and needs.
2. Foot Traffic
If you’ve got your eyes on a commercial asset, foot traffic is a must since it not only ups the value but also aids in exposure to current and prospective customers. For residential units, foot traffic is still something to look at and it depends on one’s preferences if they like somewhere a little less residential, within the metropolis or on a middle ground.
We all want great neighbors. That applies regardless if you are an individual looking for a home or an entrepreneur in search of a commercial space. For the former, we want a community that fosters, one where we’d build relationships and enjoy ourselves. With businesses, neighbors can mean good and bad. The type of establishments near, beside and adjacent to them can affect their profitability. For example, a café that opens shop in an area where complementary establishments lie can help in its sales.
Always go for an area that is safe. This includes among others a low crime rate and the less likelihood of natural calamities and accidents. Areas that are also within close proximity to fire stations, hospitals, clinics and police stations are often but not always favored.
Choose a UK investment property location that allows for appreciation. Not all places create the same increase in value over a period of time. Some are slower, others tend to plateau while there are also those that just depreciate. Of course there are other factors involved but location is one of the main drivers.