Hi all
As per title suggests. We all know home owners and investors like properties with big land, due to growth value and room for development.. but what about renters themselves?
I am hearing a few very different views on this:
1. First view is that tenants like the idea of having a big back yard, because it is a matter of “life style”, even if it means higher rental payment for them.
2. The second view is that tenants want to minimize their rental payment as much as possible and to add in the fact that the “house with big land” are not owned by them, so why pay more money to maintain someone else’s lawn / land?
3. Some even say younger generation prefers to not have a big back yard because they see maintenance of big land as “troublesome” and “more hassle than its worth”, so those investors believe the idea of “let’s buy a big land” is starting to phase out as the older generation dies out and younger generation start to take over, so the idea of “we should only invest in big land” will eventually be replaced too.
Horses for courses – there isn’t one preference to any group of people. I prefer having a larger block (we live on 2700sqm), whilst I know many people older than my household which prefer smaller.
The whole point on focusing on land content with most investors has been either regarding buying future developable land, or buying land which appeals to the most groups – families, people with pets, people who like to have yard space which outweighs the group which can’t be bothered doing the garden.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
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