The traditional approach to property investment is evolving. It used to all be about location, capital growth, and long-term stability. Today’s investors must consider various other aspects when deciding where to put their money.
Homebuyers today have been conditioned by an abundance of choice in everything they see online, and now they want the same for their homes. They are often looking for houses and apartments that fit into a broader lifestyle vision, with different buyers having different interests. This means that property investors need to consider areas that offer a variety of activities to be able to sell to a range of people.
Modern Homebuyers Used to Having Variety
A few decades ago, people were used to having one or two options to choose from in every industry. Now, though, the online world has completely changed perspectives. Everywhere you look online, there’s a vast number of choices, with websites striving to cater to as many people as possible.
Take the slot selection at Paddy Power, for example. In the past, players might have found just a handful of themes. Today, they can choose from hundreds of games, each with unique styles and features. The eclectic mix includes games like Links of Ra, Age of the Gods: God of Storms, and Buffalo Blitz.
Streaming services like Netflix have also conditioned people to expect a wide range of options. There are now more than 5000 films and 2500 television shows on Netflix in the UK, according to a report from JustWatch. With people having this much choice online, they want to see it in other things as well. When looking for a house, if homebuyers can see that there are lots of different lifestyle options on offer, they may be keener to make a purchase.
Abundant Lifestyle Options a Key Factor When Choosing Property
A lot of modern property investors are starting to zone in on lifestyle-focused developments that come with a variety of amenities. Many of these state-of-the-art locations come with things like green rooftops, fitness areas, and co-working areas. Some have restaurants and coffee shops within them or nearby as well, adding to the lifestyle options that buyers can choose from.
According to a piece in Designed by Woulfe, there are numerous luxury developments that are priding themselves on variety as well. These often come with desirable aspects such as a concierge service and catering options.
Investors should start to think like consumers when deciding which developments are worth injecting capital into. People still want well-connected property, but they also want a range of extras on top of that. Places with a community feel or that include smart tech, for instance, could also be highly sought after.
Today’s new developments are coming with a broad range of features, clearly designed to appeal to the modern homebuyer who has been conditioned to expect abundance. Property investors should look for places that can accommodate a wide range of people, based on the lifestyle options that they offer.