Well, now you are considering where to make a real estate investment in the UK. Perhaps you have difficulties in deciding which area profitable for you. Before looking for the hot spots, you have to firstly determine the type of property you would like to invest in, whether it is residential, industrial, office, or retail property.
Perhaps, you have a preference to invest in residential properties in the UK. Residential properties generally generate the most stable returns since people always need a place to live, regardless of economic climate. Therefore, residential occupancy is likely continuing high. Residential property can be a single family house or homes of multiple occupations (HMOs) like condominium, flat, apartment, etc. Definitely, you need to concern on which residential property suits you best so that you can put the prices up when you are ready to re-sell or rent the properties out.
Since homes of multiple occupations (HMOs) is a house or flat which is occupied by three or more tenants who do not live as a single family and where they share one or more basic amenities like a bathroom, toilet, or cooking facilities, HMOs seem to be a great idea to yield great returns of your investment. If you invest in HMOs, you can create such accommodation for either student, young professional, or both. For this specific purpose, hence, it is worth to consider an ideal location for your property.
No matter what you are going to use with your HMOs, it is important to put the aspects of accessibility and transportation into the very first consideration. People commonly have preference to live in a place which is close to local amenities and accessible either by land, water, or air transportation.
Let’s say you plan to operate your HMOs for a student accommodation. It is very essential to find a location which is close to a university and in an area that students commonly live. Additionally, it is worth to consider any aspects that could be the points of attraction for students such as sporting, shopping, culture and nightlife facilities, etc. Alternatively, if you plan to make use of your HMOs for young professionals as your tenants, then the location of your HMOs should be near transport links, business parks and local amenities.
Moreover, in considering the hot spots for your HMOs in the UK, it is imperative to take into account the way you are going to handle the property. It is also a contributing factor to where you will be looking. If you prefer to take care of your property on your own, it is suggestible to choose HMOs which are close to place in which you live because it is much more accessible. Somehow, if you look at those that give you a freedom of location, it is better to hire a HMO company to manage your property. But, indeed it will cost you a percentage of your profit.