How important is community when looking for an investment area?
How do you assess a towns spirit if you are investing miles away?
Online resources such as HM Land Registry and Rightmove are a great start for data but how about the softer side? Here’s some tips on what and where to look;
No surprise, social media is top of list. There’s no better way to get a feel for how established a community is than to peruse the locals posts. Facebook’s Groups now have more activity than ever, with the country on lockdown people are heading to these groups in there 10,000’s . If your more of a hands on investor you can also find decent tradesman recommendations.
Paper & Community Magazines
A great way to find out what’s going on and most are accessible online. A great local community will have events on throughout the year such as Easter egg hunts in the local park. Yes they may have been postponed or cancelled but keep your eye on the level of community involvement.
Not only are there good news stories but look out for press releases about property development and a towns own investment/budget plans, it can give you a valuable insight into the area’s development.
Read over the comments, it can give you an insight into the strength of the community in which they live.
Grab a guide
If you simply don’t have the time to scroll or all this research is leaving you with more questions on the area I’m your girl!
If you are thinking of investing in Greater Manchester look for a local to show you around. I offer private one to one discovery days where we will not only look at bricks and mortar property’s but also go over the nitty gritty of the area, an investment can be more appealing to your target audience and your pocket if you do your homework.
Why is community important?
Well its likely your buyers or tenants are familiar with the area too! Parking issues, GP waiting times, School admissions but to name a few are factors to consider and can only be known with research. Interestingly the average distance moved in the UK in 2018 was surprisingly only 9 miles. This has remained unchanged for 5 years, with 51% of moves in 2018 measuring under 10 miles. This suggests that most of us stay where we have family, a community, a job or a sense of security. These are massively important to your tenants and buyers!