I’m looking to invest in property for the first time, specifically in a plot. What factors should I look for in and around the area before investing? I’m thinking of a lock-in period of at least 15 to 20 years.
That’s exciting! Definitely consider the location. Look into the growth potential of the area, like new developments or infrastructure plans.
Also, check the local market trends. Are property values rising or falling? You want to invest where the market is strong.
Don’t forget about amenities! Schools, parks, and public transport can really affect property value. Plus, they make the area more attractive.
Consider the neighborhood vibe too. You want a place that feels safe and welcoming. Check crime rates and community events.
And look into zoning regulations! You don’t want to buy a plot only to find out you can’t build what you want.