Finding a Great Property Investment Opportunity

property investment

It's official - I'm at that age when all my friends are starting to settle down and my social media feeds are full of baby pictures. While I am not quite ready to start a family myself, I have definitely considered other huge investments, such as buying property. Finding a place that suits you can be difficult, especially if you want to use it as an investment opportunity. Fortunately, these two criteria can often work together and it is possible to find a place that you can do up and live in. 

It's important to have a plan of what you are looking for and take into consideration how much time and money you actually have to improve a property. Though renovation is often a cheaper alternative to buying a finished modern house, if you choose the wrong project you could end up out of pocket. 

Some friends and colleagues have started big renovation projects, and I've managed to gather some words of wisdom from them along the way. Here are a few things to look for: 

Run down but structurally sound
Some houses don’t sell or have knocked down prices simply because the interior is so old fashioned or run down. When looking at properties like these, try to disregard their current interior state and think about how you could make a difference. 

The key is to ensure that the building is structurally sound before going ahead with any major changes or additions. Discovering that you have poor foundations will add significantly to an extension bill and any other structural changes you want to make. Going for a property that needs only superficial changes like re-plastering, new flooring and a better interior design is a much easier project to take on and will cost less too. It's common to focus your efforts on the kitchen and bathrooms first to maximize results. 

An odd bit of land perfect for a small dwelling
You might not intend to build your own home, but if you are looking to live in the middle of a city, you will be surprised how many odd bits of land there are that could be suitable for a home. Take a look at any planning regulations in the area first, but if you think it’s possible, talking to an architect about a bespoke project could be a good way to get a city center property on a budget. 

Some companies even offer prefab steel structures that can be made to order and quickly erected on site. Many of these companies have a great reputation and will put you in the driving seat to make sure you get exactly what you want. Have a look at the spotless records of Armstrong Steel building complaints to get an idea of how your project could go. 

Properties in up-and-coming areas
Location is the buzzword in the property market, but if you keep an eye on the markets you will learn to spot up-and-coming areas - think of Shoreditch and Clapham in London a few years back. These areas might not be so fashionable at the moment, but as other expensive areas fill up, the property prices in the vicinity will also start to rise. Picking one of these locations is always a bit of a gamble, but buy at the right time and you could be looking at a reasonable profit in a few years time. 


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