While investing in property, you need to factor in certain attributes that help in getting you higher returns . Here are a few:
A property that is close to a commercial belt draws higher rental returns. This is simply because many employed in the commercial belt, especially from the IT industry, will be looking for a house in the vicinity.
Many prefer to live in a locality that is lively and has adequate social infrastructure . Clubs, malls, high street shopping, and even educational institutes in the vicinity add value to the property.
A property within walking distance from a high street is a major draw for many. Prospective tenants looking at such attributes will be willing to pay a premium for a home in the vicinity of their places of interest.
Attributes of property
This is where it makes sense to pay a premium and ensure your property has all those value adds. This is especially so in case it is an apartment you are investing in.
The infrastructure and amenities the apartment offers can get you a higher rental. It is of great value if you have an additional car park. For those investing in an apartment, it pays to invest in an additional car park.
Many families have more than one car and an additional car park is a boon in an apartment were street parking may not be easily accessible and available.
A well-maintained home draws a higher rental value. If you are buying an independent house, it will serve you well to invest on some renovation and decor.
An elegant elevation and independent houses will add to the rental value of the property. It is also advisable to go in for some restoration on tiles, fittings and roof top. These are some of the features that tenants will evaluate while arriving at the rental value for the property.
A bit of attention to these aspects can translate into a higher rental as the prospective tenant attaches value to them while evaluating the property from the perspective of his requirements and standards.
Some investment in these areas will also translate into higher capital values over the long term, if you are planning to sell the property later.