According to the latest English Housing Survey, the average age of a first-time buyer now stands at 32 whilst the average age of a first-time parent is now around 28 years old - and so it stands to reason that many tenants today could be looking for a home to raise a family.
So, if you’re a landlord looking to expand your portfolio with a perfect property for a longer-term tenant, then it’s worth considering a family home.
What to look for when investing in family homes
One of the most important factors for families is access to good quality education – therefore look for a home near to a well-respected school because it’s sure to lead to high demand. It’s easy to check because details of local schools are often included within portal descriptions together with their most recent OFSTED rating.
For growing families, the number and the size of bedrooms will also be an important factor. Families often want a minimum of three bedrooms, particularly if they have more than one child.
What else will they look for?
A garage can be attractive, not just to store cars but also to house bicycles and to protect garden furniture throughout the winter months.
Good public transport links could be important particularly if both parents work, but the family has just one car.
A major reason a couple will want to swap their stylish city-centre apartment for a family home will often be so they can have their own garden. The garden doesn’t need to be big – in fact, if it’s too big then maintaining fences and tending to the plants could be off putting. But do consider a property with a garden big enough for the family to let the children play, as well as allowing them to entertain friends on the patio.
If a tenant has rented their perfect family home, they’re more likely to stay for longer
Getting help finding a property
Joining our Investor Services Club can help you find the perfect investment property. We have network of both letting and estate agents branches nationwide, and that means we can often spot the perfect rental home even before it’s been put onto the market.
We also know the areas where demand is high for family homes, and where the highly respected schools are located.
Plus, of course we can manage the property for you, regardless of where it is located.
This means that no matter where you live, or where your current investment properties are located – we can help expand your portfolio with the sort of properties which are in high demand.
To join our Investor Services Club email InvestorServicesTeam@spicerhaart.co.uk.