Location, Location Location! Does it really matter?
Do you dream of living in the perfect setting, close to everything you could ever want or need? We all do because it makes life that little bit easier. A nice location gives you peace of mind, but applies differently to each person. For a family, a great spot might be within walking distance of the local school or nearby park for the kids. For a couple, it might be where all the best restaurants and social activities lie as you nestle in your relationship bubble. For a commuter in London, that extra twenty minutes saved on the underground in the right area makes a world of difference. Essentially, location is everything, but changes depending on the renters needs.
Typically, being in a good location means having all of the above on the list, but not feeling too cramped. If you have plenty to do but feel secluded from the outside world, you’re on to a winner. Alternatively, what do we consider a bad location? Crime-riddled streets or next door to a nightclub playing loud music till 5am when you have work the next day springs to mind. Location, location, location is the common mantra used by the real estate industry to highlight its importance. It is vital you live in a good area; one that’s safe, familiar, a friendly and relaxed environment for you and your loved ones.
With the territory comes excellent house prices. If you have a property in a dream location by the sea or in a lovely suburb, your market value will rarely drop. It could look like a dungeon on the outside but if you place it in the centre of London, there will still be a high demand. The importance of a good location can not be overestimated. It can improve your chances of landing that ideal job, because it literally opens doors to greater opportunities. Good companies tend to cluster in one area, battling for superiority. Being in a strong broadband area is equally essential if you run a business from home. If there are good transports links and improved accessibility, it can give you more time to relax and unwind.
Recent studies show that 54% of European office workers want to work in a town or city centre. Again that depends on the kind of person you are – some like constant activity while others prefer a calmer life. Also, around 86% of workers believe the time you spend travelling is a key reason for where you rent. Working a forty hour week on average can be tiring, so you don’t want to spend added time travelling. In London, it’s believed more than half of renters travel for longer than half an hour each day – not return! Little things can make a lot of difference too. If you’re in a good location, you want to be surrounded by like-minded people. It’s more likely in a safe neighbourhood, leading to more peaceful surroundings.
From a social aspect, you’ll also have more things to do as well. If it is a vibrant area, you can enjoy yourself with spa’s or walks in nature. If all else fails and you have to compromise by living in an area that’s not ideal, have no fear because there’s plenty you can do to make it all worth it. If it’s a short-term option while you save, you’ll find plenty of little tricks for budgeting. Changing your route to work can have an impact, saving time and money for a deposit or renting in a nice area later on.
Biking is also a healthy and cheap way to get to work. Setting yourself little goals on a daily, weekly or even monthly basis can give you a sense of organisation to substitute not being in the best location you imagined. Give positive notes to yourself as a reminder, or get a pet companion to brighten up each day when you get home from work. Spend some time away from the home too, meeting friends and family or planning trips so you don’t feel stuck in one place. There’s seriously so much you can do to appease not having the ideal location.
You can organise parties or events in the meantime to enjoy where you’re staying, even if it’s not your perfect setting. When you get some downtime from work or holidays booked, travel abroad and open your eyes to different cultures and ways of living. For example, in Brazil many live in impoverished areas or ‘slums’. To keep in a positive mindset, they paint the ‘Favelas’ in different colours to remind themselves about togetherness. The same can be done in your community to change your perception of your location. Meeting and saying hello to your neighbours – who are in the same boat – can change things up to give perspective, while you can use technology too.
Installing applications on your phone to learn a language or do some yoga during evenings at home can be a welcome rest. In your home, you can do the little things to make it more comfortable. Simply making the bed before work each morning will do wonders for your happiness, after all a tidy home is a wonderful environment after a long day at the office. Decorate with little ornaments and light rooms with scented candles for a nice ambiance. Exercise can also help too. For example, walking the dog or going for a run in the nature can be a welcome break.
As a landlord, it’s becoming more and more competitive to market to the right individual and remove the possibility of void periods. Although there’s a high demand for rented properties, there’s so many new builds out there. Know how to advertise your properties by staying current. You should try and reach a large audience however you can. Social media is a great way to market to a young audience, considering the average age to buy a property now is 33 years old.
Target youth but also aim at professionals of all ages by realising your strengths. Be persistent with your advertising, reaching out to as many platforms as possible to list your investments. Simply put, the more eyes that are on your listings, the greater the chance of success. It’s very expensive to run properties now; with stamp duty increases, the tenant fee act and high estate agent fees playing its part. Working on a strict budget as a business owner, you need to work within your limitations to get maximum results.
Therefore, YouRent is the perfect option to reach out to a large number of potential tenants efficiently and effectively. With YouRent, you can advertise with as many properties as you need, selecting a package that suits your portfolio. With discounted prices, you’ll be sure to save to invest in other areas of your business. It’s a stress-free process that allows you to market on multiple platforms as well as the YouRent website.
We have teamed up with the likes of Zoopla and Rightmove to ensure you market on the essential property portals. Even if your property isn’t in the ideal location for a particular person, these tips will highlight there’s something out there for everyone. You just have to know your target audience and market accordingly, with YouRent helping along the way towards a brighter future.