When you're looking to invest in a property, it's important to make sure that the investment will have room to grow. This means looking for properties that offer both quality and buildability.
What do we mean by "quality"?
Well, a quality property is one that is structurally sound and in a desirable location. It's also important that the property is in need of minimal repairs and updates, which will save you time and money down the road.
"Buildable"? That simply means that the property has potential to be expanded or remodeled to accommodate your needs. A good example of a buildable property is a fixer-upper. If you're willing to do some work, you can usually increase the value of the home by making some simple repairs and upgrades.
So, how do you identify quality buildable properties? That's where we come in. We've put together a list of tips that will help you find the best properties for your investment dollars. Keep reading to learn more!
Find out if the property is a good investment by considering the following:
1) The age of the building
2) The condition of the building, including any structural damage or leaks
3) How much debt and interest rate the borrower has on their loan
4) How big of a down payment you'll need to make on the property
Check the comps
After going through the listings, look at those that were most recently sold in your area and compare them with yours (or other similar areas).
Whatever the case may be, it's important to make sure that a property has room to grow. That way, you can rest assured knowing that your investment will continue to pay off in the years to come.
Consider Neighborhood Size, Location & More
When looking for a property to invest in, it's important to think about more than just the size and layout of the house.
You'll also want to take into account the neighborhood and surrounding area. Consider how much room the neighborhood has for growth. Is it a growing area, or is it starting to reach its peak?
Another thing to think about is the location of the property. Is it close to conveniences like grocery stores and public transportation? Or is it tucked away in a remote area?
Think about all aspects of the property and its surroundings before making your decision. This will help you make a wise investment that has room to grow.
So, if you're looking for a property that offers you room to grow, be sure to keep an eye out for build-able land. By investing in a property with WI Land & Lake Properties, you'll be able to increase the value of your investment while also securing a place to call home.
Until Next Time