Anyone with a little savvy when it comes to finances is likely to be looking into making financial investments. There are so many benefits that can come hand in hand with them! Alongside your usual income, they bring a little extra something to the table. They can help you to achieve the beautiful home, comfortable lifestyle, and everything else that you’ve always dreamed of having. The profits made from them can even be put into savings accounts for a rainy day, or a special kitty for your retirement, to be used later down the line. If you make particularly good investments, you can afford even more! So, where can you get started? Well, the area that most people look into is real estate. They consider buying a property and either selling it on to others at a higher price or buying a property and letting it out to others for monthly rental payments. This is a relatively reliable source of income. If you invest wisely and intend to sell, you should make a notable return. If you are a good landlord and find good tenants, you can almost guarantee a stable monthly payment from them. But what most people fail to consider is that standard real estate isn’t the be all and end all when it comes to property investment. There are so many alternatives out there for you to consider at the same time or as an alternative! Sure, there’s always a demand for housing. But there’s constant demand for (or something to be made from) so many other forms of property too! So, stick with us as we take a look at the basics of some alternative property investments that you might like to try out yourself.
Parking Spaces and Garages
If you’ve been raised in the country or a rural area, you may have never experienced problems with parking. After all, there’s plenty of space, and not all too many vehicles about to fill the space that is there. But as soon as you start trying to live and work in the inner city, you’ll come to realise just how valuable a convenient parking space really is. The majority of people try to avoid the problem of parking by commuting via public transport into the cities in the mornings. But this means crammed train carriages, buses, and tubes, along with the delays that are inevitable with inner-city rush hour public transport. It’s not surprising that so many health problems have been linked to daily commutes. Think of the luxury of driving straight into a spot near your place of work and strolling in fresh from your vehicle! The time it would save! The increased comfort! People would be willing to pay a lot for this. So keep an eye out for inner city parking spaces near any kind of commercial establishment. Many people who live on busy roads with limited spaces also spend tens of minutes or even hours at a time trying to park up at the end of the day once they’ve made their way back from work. So also keep a lookout for parking spaces to buy near built-up residential areas.
Now, you may not have been previously aware that woodland could belong to anyone! It’s one of those things that you walk past or through on a regular basis and assume is public property. But believe it or not, you can invest in woodland. Now, there are various reasons that you may want to do this. Perhaps the most common reasons are personal. Perhaps you own a stand-alone property and feel that people are imposing on your space by walking freely through the woods nearby. Maybe you just want the space as somewhere to spend time in the summer months, camping, strolling, or birdwatching. But there are also more practical purposes when it comes to owning woodland. It is something that you can easily draw a profit from. Woods can yield all sorts of resources that can then be taken and used to create products that sell. Whatever your purposes, when it comes to purchasing woodland as property, you may feel a little lost. After all, where do you turn first? The key to success and making the process and transaction as simple as possible is to use a seller who has plenty of experience and expertise in the area. They will be able to ensure that you get the best deal for your money as well as ensuring safety, which is absolutely paramount in this kind of environment.
Another area for you to consider is commercial property ownership. Purchasing a store is a good venture to follow whether you participate in retail yourself or even if you have no intentions of getting involved in the field. If you run your own retail-based company, purchasing a commercial property will mean that rather than pouring money into commercial rent payments, your cash is going towards something that you can call your own. Later down the line, you won’t have to worry about being evicted if sales and profits drop for any given reason, or if you need to put things on hold for a while. You also won’t have to worry about being moved on any whim of a landlord. You’ll be in complete control of your store and what goes on within it. You can make modifications, renovations, and alterations to almost any aspect of the interior without requesting permission. This means changes can be made as soon as you realise that they are necessary without delay. If you decide to call the business a day, you can completely sell up and make a little money back to help you with your next professional venture. If you don’t participate in any form of retail yourself, you can buy the commercial property and simply let it to other businesses. Though E-commerce is on the rise, there is still a high demand for commercial property on the market, so don’t be disheartened and remain open to this concept.
While standard real estate may be the focus of many investors, it’s important to remember that it isn’t the be-all and end-all of investment. There are other opportunities open to you out there; you just need to open your eyes to the possibilities!