Keep your eyes out for these amenities to ensure you’re buying in a location with high capital growth.
Capital growth is king when you’re looking for the right investment property, but how can you tell if your preferred property is positioned in a location that will see high returns well into the future?
Before you drop a dollar on a property purchase, it pays to take a tour around the neighbourhood. Keep your eyes peeled for these amenities. Not only do they make your property more attractive to prospective tenants, but they are also drivers of high capital growth.
Coffee shops, bars and restaurants
The foodie culture has well and truly taken hold in Australia, spawning a massive crowd of prospective tenants and buyers that appreciate the lifestyle convenience that comes with an array of swanky coffee shops, bustling bars and quality restaurants.
These amenities draw people in, bringing with them their money that gets reinvested into the area, creating a promising local economy that drives capital growth. Add to that the appeal of being within walking distance to local cafes and eateries, and you’ve got yourself a promising investment property.
The appeal of multiple public transportation options close to an investment property is undeniable. But more than that, government investment into transport in any given area is a good sign for capital growth. It shows that the area is up and coming, enough to warrant infrastructure investment.
As far as prospective tenants go, more and more are considering their commute when making their rental decisions. A property with multiple transport options within walking distance will almost certainly be snapped up quicker than one without.
An abundance of shopping options, food and otherwise, are a sure sign of gentrification and employment within the area, which is a definite positive for investors.
These necessities are also attractive to buyers and renters alike. Weekly grocery stops are a major part of everyday living for people from all walks of life. This brings money to the local area, which contributes to the overall gentrification and future growth.
Another necessity of life, schools are a major draw for families. They are also a good indication of infrastructure investment, with governments putting money towards projects that improve the convenience and conditions of the local area.
Families looking to rent or buy also look for close proximity to schools. Because of the time commitment involved in children attending school, it’s important to find a spot that offers easy access, whether it’s within walking or quick driving distance. Finding properties that offer this convenience will reward you with higher rental returns.
While more of a ‘nice to have’ amenity, surrounding green spaces are always a big draw for people looking to move into the area. Though prospective tenants may not specifically be looking for a place near a local park, it can be the deciding factor in your favour if your property is located near one.
Green spaces don’t have to be reserved to park areas either. From tree-lined streets to rivers, lakes or beaches, all-natural elements that can enhance the lifestyle of local residents will boost the capital growth of an area.