One common mistake made by novice investors is focusing solely on the property buildings.
They fixate on the size, shape, color, and style of the properties they purchase. They overlook other more important factors such as location, environment, accessibility, and potential.
However, the reality is that property buildings are just one component of property investment. What is more crucial is the property’s location, how strategic, safe, comfortable, and developing the area where the property is located.
The property’s location will influence its value, demand, and prospects. The property’s location will also determine the target market, rental prices, and the competitive advantages of your property.
So, do not get trapped by the appearance of the property alone. You must view the property holistically, as a product that must meet consumers’ needs and desires.
You must know what consumers are looking for, expecting, and needing. You must also know what your property offers, provides, and boasts. Property investment is a consumer-oriented business.