In search of community

                                                                                         

Many people who look to rent property are by nature slightly nomadic; individuals whose work may involve short contracts before they move on to where the next job is. Others, such as students, may also not put roots down due to the ephemeral nature of their stay in a town or city.

However, the rental sector is more diverse than that, particularly now when people are increasingly staying off the housing ladder due to the issues of affordability and mortgage availability. Such people may not own the four walls between which they live, but they may still want to feel they belong to that community.

In that sense, it may be unwise for investors in property to think that the desire to belong in a locality only applies to those who become owner-occupiers there. As a result, what is relevant to those choosing to buy their own homes in an area may be no less true of those in buy-to-let rented accommodation.

What is relevant to buyers is undoubtedly a sense of "community" according to Miles Shipman, commercial director at property website Rightmove. Stating that the desire for a sense of community has "always been there", he specified this in terms of a number of areas.

A key one is crime, he noted, with the community spirit in this case manifesting itself in crime-reduction schemes such as Neighbourhood Watch, he stated: "Areas with a neighbourhood watch and areas with a better track record on crime are also one of the key factors [that people look for]."

Mr Shipside said that such measures had a positive impact on home insurance costs, but the appeal also lay in the area being "more traditional" in community terms.

Other factors listed by Mr Shipside are also ones that may attract tenants as much as buyers, such as the proximity to schools and public transport links. For those renting out family homes, the first would be particularly pertinent.

These advantages of location have also been emphasised in recent research. A poll by Yorkshire Bank last month found that 74 per cent of people value a neighbourhood watch scheme and 54 per cent of first-time buyers said a strong sense of community would be worth paying more for.

Of course, questions about the definition of "community" and how such entities can be sustained and nurtured is a wider, sociological issue. But the sense that such a thing still exists and is available in the right area is clearly a matter which will carry a lot of weight. Those who buy into the bricks and mortar of a community for themselves may be best placed to immerse themselves in it, but this strong appeal could nonetheless be a useful selling point for those investors who buy in such places to provide a residential service to others.

In today's world Property investment is an excellent investment option especially investment in UK

About the author:
Jim Barnaby is a real estate investment broker and successful property investment adviser delivering research and selected UK and overseas property investment solutions with experience in spanish properties, french property investment, German property, Cyprus holiday homes, Property in Cape Verde, German property investment, cape verde property buy to let property


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