Property investment is as fervent now as it always has been. It is one of those rare investing instances that has stood the test of time — it always has been and continues today to be something people have invested in. But why is this? Well, because it represents the safest investment opportunity possible. It offers those that invest in it the chance to actively keep of track of their success. As well as this it allows them the chance to actively make a difference on the outcome of their investment through renovations and maintenance repairs. It is a style of investment where the ROI is very much in the hands of the investor. The more they tend to the property they have invested in, the more they will make from it. The further they go to ensure they receive a bigger ROI, the bigger their ROI will be. And this is what makes property investment such a clever investment to make. Below you can find the cleverest ways to invest in property in 2017.
Look at how people are living today
First of all, you need to be clever and do your research into the new ways in which people are living today. By deducing how people are living, and then catering to these modern styles of living, you give yourself a great head start when it comes to property investment. You do so because, right off the bat, you can start making the property you invest in as appealing to buyers and tenants as possible. For instance, in this day and age there is a popularity to be found in young adults living communally with friends. They aren’t necessary living in family homes. They aren’t even necessary living with spouses or those who they are romantically linked to. They are living with friends. They are doing so because it induced camaraderie. They are doing so because it creates memories. And because they are doing this — and this generally relates to people in their late 20s to mid-30s — you should invest in property that is attractive to young groups of friends. This could mean finding an area that has a thriving social and nightlife, and investing in a property in it. Or it could mean investing in a property with the idea of renting it out as an apartment for young friends to make use of, even if just for one night. Whatever route you take, one thing is for certain when it comes to property investment in 2017. Friends are living together, and you can make a big ROI off of them doing so!
Build a multigenerational property
This isn’t the only way you can make a big ROI on property investment in 2017, however. Another way to do so is to take a look at the other end of the market: the family home. But this doesn’t refer to the traditional family home of, say, a mother and a father and their children. No, this refers to the multigenerational style of living. This increasingly popular trend in the world of family dynamics is an allusion to the instance of different generations of a family living together under one roof. This means that the traditional family is present, i.e. the mother, father and their children. But in the house the parents are also joined by their parents and other family members. Thus, this means that the youngest generation of the family, right up to the oldest — as well as everything and everyone in between — lives in the property. The youngest generation, even when they pass the age in which they could and really should move out, are staying in the home in order to contribute to bills. The middle generation are splitting their time between their own provision of money for bills and caring for the older generation. And the older generation spend their time enjoying their twilight years and offering financial solutions through the money they have accumulated throughout their life. This multigenerational style of living is very popular because it means the whole household benefits financially. And you can benefit financially too if you invest in a property that caters to this style of living. Obviously, this style of living is only going to be available if the house is big enough. So, if this is a venture you wish to take then make sure to invest in a property that is big enough to hold Mom, Dad, Granddad, Grandma, the kids and the rest!
Invest in a property with a well-planned community
Another style of housing cut in this same communal ilk, that is popular today, are those houses found in planned communities. These communities, such as co-housing communities, were an idea that came to fruition in the 20th century and have continued to grow ever since. They comprise of small, tight-knit communities in which everything in them has been built for a purpose and everyone that lives in them is there for a purpose. They are areas in which the residents actively work together to make sure that the area is, and remains to be, sustainable. They can offer shared houses. They can offer shared facilities. Or they can offer individual properties too, for those residents that need a break from their neighbours every now and again. These types of communities are meticulously planned from their very inception, but that doesn’t mean you can’t invest in them. No, just because they are designed to be cut off from the rest of the world, it doesn’t mean the rest of the world can’t benefit from them. And you can benefit twofold from them in your investment venture. By investing in a property in a planned community, like those that offer co-housing or even an Ecovillage, you can benefit. You can benefit from the on-tap community spirit. You can benefit from the fact that those who buy or rent off you will always have a neighbour to help them out. And there are a whole host of chances for you to benefit because of how many of these communities there are around the world. One such place where you can find planned property to invest in is Rawang, Malaysia. The area is already home to several planned townships that are already established; but a new township named Taman Sari has recently arisen. It comprises of over 2,000 residential housing units. And it is a hugely aesthetically and practically fulfilling place to live, for both adults and children alike. Because of these reasons, if investing in planned property is your calling, then you should really look no further than this little Malaysian gem. Another reason why this should be where you invest is that property investors should always buy new where possible. And there is no newer planned township or community in the world right now than Taman Sari.
Think of the future
But it’s not just a case of determining where and what to invest in. You also have to be tactical with the way you invest also. One tactic that all property investors should deploy is long term thinking and planning. You have to forgo working towards immediate gratification. You have to forget about getting rewards for your work straight away. You have to think into the future, and you have to prepare yourself for the long haul. To do this, you can never let relationships with whom the property you invest in is linked with sour. For instance, if you invested in a property and became a landlord of it, you should never let the relationship between you are you tenants sour. And the first step in doing this is to never shirk on your responsibilities. You should always be there for them to discuss things about the property. And you should always be willing to ensure their standard of life isn’t compromised by a lack of repair or maintenance work. Once you do these things you give yourself the best chance possible to retain a relationships with your tenants. And this is thinking in the long term because a bad review from a current tenant could deem you to be negatively viewed by potential tenants in the future. This would then make it increasingly harder for you to invest in property in the future.
The importance of deeming the future just as important as the present stretches further still. It is important that you are always thinking about what to invest in next. Making one good investment does not make you the Wolf of Property Investment. No, making a number of good investments does. Because of this, you should always be planning your next move. Whether you take the advice above about where to invest in next. Or whether you have your own ideas of where is best to invest. You have to be constantly formulating plans. You have to be in a consistent process of finding somewhere to invest, and then investing in it. And, as mentioned at the beginning, you have to always be willing to actively make changes to your investment. You have to offer renovations. You have to keep up with maintenance work whenever possible. And if you can’t do these things, you should hire a property manager to keep atop of them for you.
By keeping atop of these things you keep your future and your investments in your own hands.