Buying a home or unit as an investment is often one of the biggest challenges you’ll face in life, other than buying your own home. We all know our likes and dislikes and that is why it is very easy to buy a house that you like, but very often what you like in a house does not translate into the likes of potential tenants.

There are five key things to consider when choosing where to buy your investment property and which real estate development to choose.

Key problem 1: choose a real estate development with many parks nearby

Nobody wants to live in a concrete jungle. Even in today’s large unit developments, you’ll notice that developers spend an enormous amount of money making sure they build a complex that contains at least one large area that residents can use as a park, so why would you want to buy a house in an urbanization? It doesn’t have parks.

If you look at most people who want to live in rental properties, they are one of two types of people, they have children or they are grandparents with grandchildren. Having a park near your investment home will ensure that people want to rent it because they know they will be able to let the kids play in the park with some level of safety.

In many property developments in Australia, developers ensure that all houses are within viewing distance of a park. This means that you as a parent can work at home but still see your children. This will give a potential renter with children a certain level of comfort.

Key problem 2: Choose a development close to public transport

When I choose to buy any property, especially an investment property, I always assess how close the property is to public transportation. Around the world, many people depend on public transport and if your property is not close to public transport, you may find it difficult to rent the property.

For example, my own wife comes from Brisbane in Australia, because she grew up in a city that has a very well-defined train system and because of this, she didn’t really get her license until she was in her 20s because there was no need. This meant that when we were choosing a property to live in, we had to make sure that we were always close to the public transport system. I found that people who live in cities with quality public transportation have a higher number of unlicensed people, which means that if your investment property is close to public transportation, it will certainly attract potential renters.

Key question 3: Choose a development close to public facilities

Nobody wants to drive a million miles or spend hours on public transportation to access public facilities like hospitals, government services, etc. The general rule of thumb I use for choosing sites is that a variety of government services, such as social security, hospitals, Centerlink, etc., should be within a 10km radius of the potential site.

Key question 4: Choose a development close to schools

Many renters today choose to live near the school their children attend for one of two reasons. The first is safety and the second is for the health of children. With the world’s politicians making a big push to deal with childhood obesity, many people are moving into properties that allow their children to walk to school. Being close to school ensures that they will be safe, but also ensures that they get their daily exercise.

Key problem 5: Choose a development close to shops, doctors, etc.

Most of today’s new developments must include land that has a commercial use for services such as stores, doctor’s offices, offices, etc. However, some older developments have not had these requirements and you will often find it more difficult to lease properties to tenants because tenants must travel too far to access these types of facilities.

While there are many issues that will affect whether a property will rent, such as vacancy rates, the number of rental properties on the market, and the type of property, etc., ensuring these five key elements are met will give you a certain advantage. to those who have Do not put these key issues.