No Go Zone?
Each and every one of you have what you would consider ‘deal breakers’ for a potential property. Here we outline a few points to be wary of when making some decisions on a place.
Holiday Hot Spots
Have you ever been on a holiday and thought to yourself, I could live here! I have been guilty of that. The place seems so idyllic, possibly close to the sea or other breathtaking nature but back up a bit, often these places are seasonal hot spots making them a volatile areas. Holiday destinations go in and out f fashion and it might be popular this year but in a few years holiday makers have moved onto the next best thing.
One Industry Town
You might know one near you, 10 or 20 years ago it was booming but now it’s just a shadow of its former glorious self. These one industry towns are at risk as if anything changes, such as a new regulation or end of that ‘boom’ the whole town suffers. What was once sought after property now become vacant as workers move away.
These areas are idyllic for those who actually want to retire but for those no longer employed, if this makes up a large portion of the demographic, it does not serve or create a strong foundation for growth.
Have you heard through the rumour mill these is a University campus opening in a certain location or a new hospital being built? Think of all the students, think of all the staff, all potential tenants right? Not so fast, sometimes these proposals do not come to fruition so go for certainty over speculation.