In some of our previous posts, we have mentioned that urban properties offer the best investment options. We would like to clarify however, that all investments are based on an investor’s ultimate goals.
In real estate investing, different investors have different intended outcomes. Some want quick cash, others want higher returns then there is an investor who just wants a steady flow of income. If you are the latter, then investing in a suburb is your best bet.
Here are theadvantages of investing in a property in the suburbs.
There is less turnover
Anyone who is looking to settle in the suburbs is looking for permanence therefore, as an investor, you are sure that a renter for your property will be there for the long haul. This means that you are highly likely to have a steady flow of rental income for an extended period of time.
There will be less wear and tear
Renters who sign a long term lease tend to develop some sort of personal connection with a house. Often, they will see it as a home thus take better care of the place. This is good news to an investor because it means your expenditures on repairs will be less hence more less constraints on your profit margin.
Homes have more value for money
Homes in the suburbs are priced better than homes in urban areas in terms of price per square foot. This means that you are likely to get a larger property at a lower price in a suburb hence more potential for a better rental income.
Homes come with outdoor space
The biggest perk about suburban living is that there is plenty of outdoor space. The same cannot be said for urban homes. This tends to make these homes more marketable.
There is a lower crime rate
Based on statistics, suburbs have a record of lower rates of crime when compared to urban areas. Considering that safety is a major concern for most renters, properties in suburbs then become more appealing.
Access to peace and quiet
Suburbs are known to provide an element of peace and quiet which is a very welcome escape from the noise and hustle that is associated with city living. Some people are always just looking for peace of mind. This makes suburban properties appealing to some home owners and renters.
These are just some of the advantages, we believe there are many more.
We would love to hear from the suburban dwellers.