When choosing a property to let out, there are plenty of things to consider when picking an area to buy in.
Some are more important than others, depending on your particular situation and circumstances, but all of the below should be considered.
School catchment areas
School catchment areas are often the top of most people’s lists.
Whether your tenants will have children, or are looking to have children in the near future, then school catchment areas are a big thing, as these decide which school their child will be eligible to attend.
The boundaries can change, and the distances in which children are accepted can increase or decrease year-on-year, but generally they stay the same.
Crime rates are another big thing to consider, and you can search for crime ratings and crime maps by postcode on the police website.
Local authority and environment
It’s worth checking the local authority website of the area you’re looking to buy in to see if there are any plans in place to make any changes that could affect the property and local area, either positively or negatively.
There could be planning permission in place for a new shopping centre, for example, which could increase the traffic in the area but also may make the property more appealing to tenants.
You should also check out the local environment; for example, is the area a popular tourist area, which will turn it into a living nightmare during peak seasons.
Neighbours and amenities
Potential new neighbours could provide an unfiltered insight into the area you’re looking to buy in, and possibly any previous issues with the property that you’re looking to purchase.
As well as talking to the neighbours, you should also check out the local amenities such as the nearest doctor’s surgery, dentist, shops and pubs.
Flood risks provide a red alert when it comes to housing, so it’s always wise to check if the property you’re looking to buy is at risk of flooding.
You should also check the area out at peak times to see what the traffic is like. If the property is near a school, for example, it may mean heavy traffic in the morning and late afternoon.