Press Release Summary = Before making an investment in a property, the prospective buyer must give consideration to a number of factors. Obviously, location is of prime importance, as the property must be placed in area where it will have maximum appeal for the target market.
Press Release Body = Before making an investment in a property, the prospective buyer must give consideration to a number of factors. Obviously, location is of prime importance, as the property must be placed in area where it will have maximum appeal for the target market.
Close proximity to transport links is always a major plus point, as is being near to amenities such as shops. Another consideration is what school catchments area the property falls under, as this is something that is increasingly important to people with children. Likewise, families are also going to be more interested in properties with a garden, providing somewhere safe for the children to play.
However, that is not to say that a garden would not prove equally attractive to tenants without children. According to a recent survey, 75 per cent of Britons consider a garden to be a \"significant attraction\" when looking at a property. And a further 70 per cent of respondents to the Savills poll said that having a garden is an \"important part\" of home ownership.
Lucian Cook, a director in the company\'s research department, said: \"I would imagine that families would be a group of people who would strongly consider a garden important. Where you have large, modern houses which don\'t have much of a grounds, that could be a constraint on demand.\"
Having said this, it is not everybody that places such importance on having some garden space. A large section of the rentals market is made up of students, young professionals and people waiting to make their first purchase.
Mr Cook advises that many of the tenants in this demographic \"are just looking for something low maintenance\".
\"So a garden is not going to be something that\'s significant. Access to a degree of outside space is possibly of importance to them, but having something which is well-stocked with mature scrubs and hedges isn\'t.\"
This advice mirrors that given by property consultant Lorna Vestey to readers of the Telegraph recently. She counselled investors to think about their prospective tenants and what their priorities might be: \"A maximum 10-15 minute walk to a Tube or good train station and reasonable shops is important. Local restaurants and bars will be on most young tenants\' wish-lists. Family properties should have access to outside space, be on a quiet road with reasonable parking and close to good schools.\"
2012
