Whether you’re looking to start a new hobby or attempting to generate more cash, investing in a new property is a reasonable idea; especially if you have some extra cash floating around that you don’t know how best to use. In this article, we look at several of the top ideas for property investment in 2018.
Different Properties to Consider Buying This Year
If property investment seems like a good idea to you, it’s worth taking the time to consider all options. You might be ready to slow down a little bit as you start to get older, or you might be ready to take a risk and invest in a property that will potentially make you some more money. Either way, there are a range of properties that you should think about if you are looking to spend money on a property this year.
1. Holiday Home
If you have spent a lot of years living in the hustle and bustle of a city, you might want to think about getting away from it all. It’s probably a bad idea to move away from it completely (especially if that’s what you are used to), but having a place you can go when things get too much isn’t a bad move to make.
There aren’t many people out there that have purchased a holiday home and regretted it instantly. Having a place to go on your annual leave (or after retirement), is an option that really appeals to a lot of people.
Holiday homes don’t have to be expensive either. In fact, a lot of holiday homes are far cheaper than any regular house you find on the market, providing you with a comfortable place you can go to relax, any time of year, whenever you need a break.
2. Ski Property Abroad
If you are looking to inject some more adrenaline into your life, a ski property might be the answer for you. Quite often a sizeable investment, a ski property can provide you with a place to go when you need a holiday or when you want to do something you know you enjoy.
Most people who invest in ski properties will do so because they have a great love for skiing, beautiful mountain scenery and the lush locations that often accompany such wonderful ski resorts. It’s rare than you would purchase a ski property without first attempting to ski, but it’s not completely uncommon. Buying a ski property abroad could provide you with an opportunity to discover something new that you love and are potentially good at.
In 2018, there are hundreds of ski properties for sale in France, Switzerland and other countries around Europe, including Austria and Norway. It’s easy to fall in love with the wide range of chalets and apartments out there that can provide you with weeks/months of entertainment at a time.
If you think skiing might be for you, it’s worth taking the time to look for ski properties for sale online.
3. Local Pub/Club
Investing in the local pub will sound like hell to some people and heaven to others. How many hours have you spent in your local boozer, wishing someone would take the time to look after it properly and make it more appealing for those who want a drink?
If one of your local pubs or clubs becomes available, it might strike you as a wonderful investment opportunity; a chance to make something out of nothing or start a new hobby to keep you engaged.
Renovating an old pub can drive new business from the local area, as local residents attempt to find somewhere new and interesting to let their hair down on a weekend.
Whether you look at it from a business perspective or strictly from the point-of-view of having something new to do, investing in a local bar might not be a bad thing to do…
4. A Second Property
Investing in a second property, like a house of flat, is one of the most common property investments you will see today. As one mortgage is paid off, it provides the perfect opportunity for homeowners to invest more money. Only this time you can make some money out of it for yourself.
Buying a new house to rent out is a clever thing to do, especially if you can do it whilst you are young. You might even want to invest in a third or fourth property once you have caught the bug, discovering that there is money to be made from buying another house, either close to or further away from where you currently live.
If you have managed to save up enough money to invest in another property and you are certain that’s where you want to put your money, it’s worth considering all avenues to see if there is money to be made from your investment.
Renting it out isn’t the only option either. Refurbishing a worn out house to re-sell is a tactic many property investors use to make money all the time.
Where to put your money?
So, where do you put your money? Do you keep it local, head abroad, attempt to make money or try and discover a new hobby?
Ultimately, it depends on your budget and what your goals are you want to achieve. If you want a new place to spend your time during holiday season, a new holiday home or ski property might be for you. If you are more concerned about making money, considering a local investment in the shape of a house or commercial property might be much more suited to you.