House hunters who are struggling to find an affordable property could think about another tactic that could help them land the perfect home in an up and coming area.
Early adopters in the property sense are those buyers who seek out up and coming areas and buy a house for a low price because the area isn’t considered desirable or popular. When the area becomes a hotspot and many house buyers want to buy in the location, that is when the property prices in that area are pushed up, and the early adopters are left sitting on a small fortune because they bought in the area when it was cheap to do so.
Here are indicators to look out for if you’re looking for a cheaper property in a soon-to-be salubrious location. If you’re clever, you could land yourself a bargain of a property and just wait until the area prices start to jump. That way, you could end up sitting on a goldmine of a property.
1. High End Stores
Chain stores and shops will consider very carefully the demographics of a location in which to open new stores. If a high end store such a Waitrose or John Lewis is opening in the location, that means that it considers it a good area opportunity and that there are people with the money to shop in their stores.
2. Trendy Restaurants
Another good indicator is when trendy and higher end restaurants start to open in the area. A more expensive and sophisticated restaurant will mean that there are high end customers in the area willing to pay for a nice meal. More expensive restaurants will appeal to higher income residents who are moving into the area.
3. Good Transport Links
New transport links are also a good sign to when an area will gain in popularity and the property prices will start to increase. Extended and brand new rail networks, underground stations, trams and roads all help to increase the accessibility and also the popularity of an area. It also means that the area becomes easier to travel to and from, which encourages more visitors and residents.
4. Cultural Pursuits
Culture is an important indicator that an area is increasing in sophistication and popularity, as the arts is an important pastime of those with expendable income. Where theatres, museums, art galleries and music venues are located, there will be property prices that are elevated. Also antique and emporium shops are good signs too. Keep a look out for the arts coming to a particular location and start searching for a property in the area.
5. Cafe Culture
Cafes are also a great sign where the cafe society are moving in and settling down. Independent cafes and chain cafes indicate where mums visit and meet up during the day, professionals work out of with their laptops and tablets using the free WiFi and families like to hang out over the weekend. Cafes have a certain cosmopolitan perception to them because in well-to-do area they attract a lot of local residents.
6. Bugaboos and Baby Brands
Noticing the status of yummy mummies in a particular area also shows where an up and coming area is likely to be happening. Where there are Bugaboo strollers, baby seats in Landrovers and babies kitted out in Gap and Pumpkin clothing, you can be sure that the area is up and coming and going to get filled with families looking for decent sized, family properties that are cheap to buy.
About the Author
Sonya writes for What House?, a leading new homes website featuring the latest new homes for sale, mortgage and property information and news.