Should you invest in a modern or older property? This is often the question that a lot of peo...
Should you invest in a modern or older property?
This is often the question that a lot of people are left to ponder when it comes to choosing a suitable property to invest in. For many, contemporary properties hold all the advantages. They are often ready to be rented out straight away – perfect for those who just don’t have the money to spend refurbishing and decorating an older home. For those who want to make money on their property immediately – they can’t afford to wait several months for a house to be done up.
Age is Just a Number?
However, here at Belvoir Sutton Coldfield, we believe that the age of a property can actually be a huge advantage for investors. They often offer people brilliant features that just aren’t found in newer houses. They also tend to “outperform” the more contemporary houses when it comes to rental levels and price rises. Looking at the property market, it could be said that older, well-maintained properties are actually the easiest ones for estate agents to let.
We know here at Belvoir Sutton Coldfield that these properties rarely stay empty for long. There is often a huge demand for period properties – people want somewhere that has a little character. More often than not, although beautifully furnished, more contemporary properties just don’t have that extra special touch. Tenants often look for properties with period features – whether it’s an original fireplace or old style windows - these are unique selling points.
So what are the other advantages of older properties?
As property experts, our team here at Belvoir Sutton Coldfield know exactly what makes a property more desirable to tenants. If you’re an investor looking for a property to make a big income from, we would definitely advise you to consider older properties. Other advantages include:
- Although they require more maintenance, landlords will save and make more revenue in the long term.
- Older homes often offer more space for your money, as they often include larger rooms and higher ceilings.
- High demand for these properties means that you can often make more money from the rent that you set.
- Compared to more contemporary properties, older buildings, if maintained properly, maintain their value a lot better.
- The locations are often more desirable – within established communities with good amenities.
- Modern features can easily be installed in a period property – you can have the best of both!
Overall, we stand by the fact that we believe period properties offer a smarter investment in the long term. They can be presented as brilliant family homes, or they can be converted into luxury apartments for the younger generation. Yeah they need more money spent on them upfront – but the results are definitely worth the investment. They can give you a secure income that goes up at a rate faster than any other.
If you would like to speak to a member of our team about investing in a property, please don’t hesitate to contact us.
For those who are looking for houses or flats to rent in Sutton Coldfield - please give us a call too!
You can ring us 0121 321 3388 and a member of our friendly team will be happy to answer any questions.