With the property market in a constant state of flux, buyers must be careful when they purchase a new piece of land or a home or office block. Buying property in a good area is definitely an investment, but perhaps you don't need to move in order to up the value of your portfolio. Perhaps the area you are already in is on the up? So how can you tell if your postcode has investment potential?
o Building work
Scaffolding, builders and improvements on a street indicate that residents and even the council are investing money in improving properties in the area.
o Upmarket shops
When delis, florists and trendy cafés start to open on your street or in your area, and they flourish, this is evidence that there's enough disposable income to support them. They are also going to attract buyers and investors to the area.
o Estate agencies
Estate agents are often the first to spot signs of growth, so when property sales offices open in your area this may be an indication house prices will soon be on the up.
o New transport links
Good transport hubs always increase the value of an area, so look for improvements and extensions to road and rail links.
If your area is on the up, then it's a good idea to get your house into shape, and to invest in a good pru.co.uk/insurance_protection/home_insurance house insurance policy so if something happens to your home you are financially prepared. Great UK home insurance options are available from Prudential, so why not get a quote today or register your renewal dates for when the time is right for you?
Prudential plc is an international financial services company with a product range that includes personal banking,home insurance, pensions and assorted investments portfolios. Visit pru.co.uk pru.co.uk for more information
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