Top Features to Look For in an Investment Property

 Buying an investment home is the best way to jump in on a business and have it grow without having to wait on construction or creating everything from scratch. With an investment home, it's often already been used as the type of facility you want, so the base is already there for you to create something incredible.

These are the top features to seek out in any investment home and why they matter.

1. Durable and Updated Roofing

Your roof, in any investment home, is vital because it protects whatever you keep inside and can cost tens to hundreds of thousands to replace if something catastrophic happens, or you happen to buy a home with an older roof. Look for good slate roofing, which can last fifty to sixty years, depending on your area. Try to find one that's been replaced within the last twenty years because you'll have the benefits of a newer roof without having to install it, and you won't have to worry about replacing it for decades.

Although you can buy a home that needs a roof replacement and do it yourself, this can take up vital time that you'll probably want to spend on ensuring the home gives back from its investment.

2. Good Quality Siding

Siding is almost as important as roofing since it protects your home from the elements, feeds into the aesthetics of the home, and will keep bugs and other problems outside. 

Different investment properties need different siding, ranging from commercial to house siding options, so it's a good idea to highly research what type of siding you'll need for your home. If you're updating a home for rentals, you'll want to find a long-lasting siding in a neutral color that will keep your home looking fresh and new.

3. Necessary Aesthetics

How your home looks matters more than how much space is inside or how old it is.  This is especially true for homes like rental houses or apartment complexes. These are homes that you'll be working to convince people to live in, so you must take the time to ensure they're spaces that are not only attractive to others but are going to be easy to maintain.

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If your properties aren't live-in rentals, you should still pay attention to aesthetics if you have clients or customers stopping by the home. This will allow you to create a welcoming and attractive location to form their first opinion of you.

4. A History of Good Income

If this has been an investment home for someone else, ask if you can know how much they were bringing in for the home. This is a question that not every individual or company will want to answer, but it’s a good thing to know so that you can decide if this home has potential or not.

When they tell you how much they make out of the home, consider whether you can build more profit into the location or if they're making far too little. Be honest with yourself.  Although a project has its allure, it's not going to help you much if it just puts you further into debt. When deciding if the investments will be worth it, remember to look up real numbers. Guessing how much something will cost isn't as reliable as looking up garage door replacement costs so that you can deal with the actual amounts.  This will tell you whether or not the investment is a good idea.

5. Fantastic HVAC System

The HVAC system of any unit will be important to consider since it will affect how much a monthly heating or cooling bill will be. Tenants don't want to deal with high costs and would rather have an efficient electric heating system than one that's constantly running and ruining the home's airflow. 

You can update the system yourself or seek out a home that's been recently updated to save yourself money.

6. A Location That You Want

Location is vital to how your business or home is reached and how it's perceived by those visiting it. If you're catering to a specific type of customer or business, your location must be an area where they will be willing to travel.

For those creating rental spaces, or flipping homes, this could mean creating this home in a quickly developing area where there's a big call for housing. You'll be able to provide them with a home near their work, and you'll be guaranteed a steady stream of tenants.

Any Investment home Should Be Carefully Thought Out

Whether this is your first investment home or your fiftieth, you must take the time to think everything through. A poor investment can result in you losing tens of thousands of dollars, so move at your own pace and make the best choice for your business.

Roger Marx is a contributor to the Innovative Building Materials blog. He is a content writer for the construction and home improvement industries with an interest in landscaping, outdoor remodeling, and home renovation. Roger is focused on educating homeowners, contractors, and architects on innovative materials and methods of construction that increase property value and improve sustainability.