Investing is one of the most sound ways to take your money and watch it grow. It’s not as easy as depositing it into a savings account and just watching the number slowly rise, but it’s a lot more profitable than relying on bank interest rates. Property is probably one of the most common things to invest in if you want to increase your bank balance, but it’s an industry dominated by giants who aren’t willing to give you a slice of their pie.
So in order to get into investing, you have to know where to place your money. You need to know where you can strike and you need to understand what niches you can exploit in order to get your foot into the door. If you want to want to ensure your investments don’t go to waste, then here are a few trendy real estate niches that you can take advantage of.
Micro-sized apartments are economical because they use furniture and designs which are space saving. This means you can effectively fit several functions into a small room. It takes a lot of design work and commitment to turn a small apartment into a fully-functioning house with all the bells and whistles you’d see in a larger apartment, but it increases the value of the home significantly, and reducing the amount of space you use means you can fit more apartments into a single building should you decide to develop your own property. If you don’t, then it means you can convert cheap small spaces into large profits.
Be it a mountain house, a riverside cottage or a large ranch, rural real estate is a booming market due to the fascination people have with nature. Property in remote locations is popular among holidaymakers that are looking for a second home, and they’re also popular with families that want to give their children a more natural upbringing by surrounding them with nature, clean air, and a tightly knit community.
Manufactured housing is a very popular choice among property investors due to the low cost and rapid construction of each home. These can be made to order, designed by the customer, and then shipped and build in less than a week. This gives the buyer plenty of choice in what they buy so they can effectively “build” their own home and have it shipped directly to their doorstep. This is perfect for house extensions, but it’s also great for people who buy cheap plots of land.
Buying a home is a complicated process that involves a lot of hidden fees and a lot of communication back and forth between various parties. However, if you offer a turnkey solution for homeowners, then they’re more likely to stick to your services even if your homes cost slightly more than the competition. This is because homeowners don’t want to deal with hidden costs or other bothersome things. They just want to pick a house, set up a mortgage and then move in. If you are able to handle any legal implications, most of the paperwork, and generally make the experience easy for the buyer, they’re more likely to recommend you to their friends and you’ll get repeat business from budding homeowners.