When it comes to finding the right investment property, location is everything!
Location can have a tremendous impact on the value of your property and it’s the one attribute that will have the most significant impact on how your property value grows (or declines) over time. So it’s wise to consider the following points when it comes to selecting an investment property.
Are there major companies planning to move into the immediate area? Large-scale employers like big box stores, tech companies and factories can provide jobs for hundreds of individuals who may seek to find a new home in the area.
The overall economic health of the region is also a major consideration. Investors should generally opt to purchase a property in an area that’s currently on an upward trajectory in terms of the local economy.
An example of a natural attraction is a waterfront or coastal property or a plot of land that has some beautiful views of the mountains.
Natural beauty always attracts builders and residents alike, so whenever possible, it’s always wise to select a property in an area that features some sort of natural attraction.
Is the property located just outside a major metropolitan area?
Whatever the city or metro region, there is one commonality: cities are growing and the suburban sprawl is rapidly expanding outwards from those metro areas.
Regions that are located just outside the existing suburban region for a city is often a great location for buying an investment property. That’s because these outskirt communities evolve over time into hot spots for developers and home buyers alike.
The regions around Chicago have lots of great investment properties available, including land that’s ready for development or land that will be sought-after by developers in the not-so-distant future. If you’re ready to get started with investing, take a few minutes to complete our investment questionnaire. This will help us learn more about your investment goals and objectives so we can recommend an investment opportunity that’s right for you.
Questions? Call Greg Teele at 224.343.6890.