Investing in bricks and mortar remains one of the most popular ways to make money. If you’re looking to expand your portfolio or you’re on the hunt for your first investment property, here are some tips to help you maximise the chances of a quick sale.
Finding unique properties
There are thousands of properties up for sale at any given time. As an investor, you need to be able to encourage buyers to snap your property up. It’s beneficial to look for houses and flats that stand out and offer something different to other contenders on the shortlist. This may be a stunning view, a unique building or architectural style or a backstory like the property of Hugh D. Fuller Jr. When you look around a house as a buyer, you want to experience emotions and fall in love with a home. Opting for something quirky might be slightly riskier than the traditional family home for an investor but you are more likely to trigger deeper emotional experiences and connections. You want people to view the property and feel compelled to take the next step.
The property market fluctuates and demand for housing rises and falls. As an investor, it’s crucial to keep a close eye on market movements and to identify emerging trends. With more people working from home, for example, there has been a surge in the demand for houses with gardens, properties in more rural and remote locations and homes that have sufficient space for offices, studios or garden rooms. Try to ensure you cater to buyer preferences and requirements. Establish an ideal buyer or tenant before you start your search, carry out research to determine what they want and put yourself in their shoes.
Understanding what sells
Trends come and go in the world of real estate investment and some features or types of property may be more sought-after than others. Use the findings of your research to understand what sells and to look for properties that are most likely to appeal to your target buyer. It’s beneficial to focus on selling points that are likely to attract buyers. Examples of features that will appeal to families include open-plan kitchen-diners, bi-fold doors that open out onto the garden, home offices and gyms and en suite bedrooms.
Showcasing your home
Once you’ve found a property and you’re ready to sell, the next step is to showcase the house or apartment in all its glory. Spruce up the interiors, make sure the property is clean and take professional photographs on a bright, clear day. Declutter, highlight the best features in brochures and online listings and market your property with an agency that has an outstanding track record. If you have viewings booked, take some time to prepare the property. Tidy up the garden, freshen up the paintwork and use diffusers or room sprays to ensure the house smells pleasant.
If you invest in bricks and mortar, it’s natural to want to ensure your property sells quickly. To maximise the chances of turning heads and attracting offers, research the market, gather information about your target buyer and look for unique properties and homes that boast features that will set it apart from other contenders.