Choosing a rental property has a few basic rules. The most important, you are told, is location. It also holds second place and probably third and fourth. But what good is the right location if the house that’s available in it doesn’t fit the bill for attracting and keeping high calibre tenants? Maybe it’s time to start from scratch with a custom-built house that will fill both the tenants’ wish-lists and yours – especially if it’s in the right location. Baxton Property Management has partnered with Australian Heritage Homes in providing reasons why you should consider putting “Go custom” on your priority list.
What Are Tenants (and Buyers) Looking For?
Surveys into what attracts tenants to certain rental properties, do put location high on the list, because of ease of access to transport, schools and amenities. And when it comes to rental houses, tenants opt for accommodation that meets a similar desire for an uncomplicated lifestyle.
They want off-street parking, comfortable and clean surroundings, lots of storage space, and new energy appliances. And they also call for open-plan design, large windows that let in plenty of light, and equal-sized bedrooms. Tenants want good security and heating/cooling, would prefer two bathrooms rather than one huge and showy one, and an outdoor patio, balcony or BBQ area would be the cherry on the top. Come to think of it, their wish-list doesn’t differ much from that of most house-hunters.
Meeting Tenants’ Needs
This is where custom building could be the answer. And before you throw up your hands in horror thinking of the costs involved in building a custom house, consider the advantages of not having to deal with the repairs, maintenance, and need for updating aspects of a “cheaper” older property.
Unlike trying to upgrade an old house, or change volume built new housing, custom building gives you the chance to start with a blank canvas and create a property that provides exactly what tenants (or you) want. You will also know exactly what you are paying for, and can rest easy in that it should be a long time before you will need to start worrying about further alterations or major repairs. In contrast, renovating, altering and maintaining older properties can prove to be more expensive than effective. There can also be some nasty surprises down the line.
Adding a Personal Touch
Once you have ticked off the basic tenant wish-list, you can add something a little different to make your rental property stand out from the rest. The end result would be a property that is light and airy, and easy to manage, clean and maintain for both tenant and owner. As an investment property it promises great short term returns as it is designed to attract tenants and keep them for longer periods. This should keep your rental income flowing without frequent vacancies, and the costs of finding new tenants. In the long term such a property would also appeal to the average buyer, should you decide to sell it to maximise your return on investment – and to you, if you are looking to retire to it.
The advantages of building a custom built house
- Custom houses offer you total control from the design phase right through to the materials used. This means that not only can you get what you want in terms of design, but you can ensure that everything is done in the most energy efficient and sustainable way by using the best modern materials and technologies for the construction, fittings and insulation.
- Custom building contractors such as Australian Heritage Homes can handle most challenges when it comes to building, including sloping or oddly-shaped stands, or special requests and additions you might wish to make. Close personal communication and interaction between reputable custom contractors and their clients, results in greater attention to detail and owner requirements, which in turn leads to homes that are both high quality and designed to last longer than most standard homes.
- Most custom building operations take on the full operation, effectively removing the middle men and the need to negotiate with a wide range of contractors covering different areas of the building process.
Custom-built houses offer the opportunity to getting exactly what you want, whether you’re looking for an investment or rental property, of a family home. Baxton, one of Australia’s top property management services, has had 100 years, collective experience in managing investment properties so they can see the potential advantages of getting the right property for the right purpose. For further information on custom-built houses, contact Australian Heritage Homes.
Guest Author: Baxton Property Management