Jeffrey Germagian, Era Key Realty Services-Bay State GroupPhone: (508) 395-0778
Email: [email protected]
Email: [email protected]
In order to make your real estate investments successful, you must keep location in mind. Yes, it may seem cliche, but the location is still a critical consideration when purchasing real estate because it has a direct impact on how well the property does as an investment. Here’s how to use location to your advantage when buying investments.
Consider the target tenant for your investment. Then, consider what that person needs in a home location. Do they need to be close to amenities? What are their shopping habits? Are there shops to accommodate them? Do they need excellent schools? Libraries? Some of your tenants may rely solely on public transportation. How close are you to trains, buses, ride-share hubs, etc.? These are but a few questions you should ask yourself when choosing a property.
Next, consider where the excellent schools are in your area. Schools may not appeal to all of your potential tenants, but they are important in the overall value of the home. Being in a top-rated school district or near top-rated schools makes a home more valuable. Don’t forget to consider plans for future schools or school upgrades, because investments should be long term in nature.
Is the home near shopping and dining options? Will the residents have easy access to a grocery store? Does it have parks or recreational opportunities nearby? Most of the time, tenants or buyers want these important amenities within a five or ten-minute drive from their house. If you can find an investment property near local amenities, it will be more valuable than one far from them, particularly if you’re going to use it as a rental.
If your city has a good public transit system, consider investments with easy access to this. Not all cities do, but this can be a major perk if yours is equipped with one. People who can use public transit can leave their cars at home, and this can help them save money. For some, this is a feature that they hope for when choosing a home to rent or buy.
Investing in real estate requires the right strategic planning. To make sure you are ready, research location well. Finding a great property in a great location will help you find investment success.
Dating back to the 1970s when his father put him in charge of the family real estate business, Jeffrey Germagian has built a longstanding portfolio of real estate transactions and developments. Along the way, he has grown the family’s original company, then known as Baystate Realty, to the elite status it represents today as ERA Key Realty Services.
Although we’ve expanded our real estate offerings and our branding has evolved to represent all of the real estate services that we provide, ERA Key Realty, The Baystate Group still holds true to the honest business practices and principles that Jeffrey’s father set out with decades ago.
Jeffrey manages the Baystate Group which specializes in traditional home resales, land development, and 55 communities.
He lives in Hopedale, MA, and serves the local towns in the area including most suburbs of Boston as well as southwest of Boston. He is a Certified Residential Specialist and is fully licensed as a real estate agent to practice throughout the entire state of Massachusetts.
