Ground Floor apartments,
I just thought I would post an email that Karen wrote about the past couple of developments that had ground floor apartments. I have known this for quite some time about the ground floor, and I have a number of them in my own investment property portfolio.
Anyway, in Karen's own words to the team.
”Hi guys,Thought I would share some information with you regarding ground floor apartments as I know some of you have some concerns with selling them over other plots due to the rentals. With West 12 in Leeds the first three apartments to let were all ground floor apartments. These plots all achieved the realistic rent of £450pcm where some of the other apartments were only achieving £400 – £425pcm. The reason for this was due to the living areas on the ground floor having bay windows.The first plot to let at Amber Wharf was the ground floor apartment as the tenant had a cat and needed easy access outside.Looking back on past developments, we often had requests for ground floor apartments from families with young children and elderly people not wishing to tackle the stairs.”
Karen Earthrowl Aftercare and Lettings Manager
So, my question to you is: are your beliefs actually grounded in reality?
Far too often we let untested and unquestioned beliefs dictate or influence our decisions, but unfortunately, many times these beliefs/perceptions are not actually based in reality.
I've been responsible for the sale of over 2000 investment properties in the UK now and it's amazing to me how many people have beliefs surrounding property that are incorrect, based in emotion, or advice from their brother's friend's mother's auntie.
I find the “ground floor debate” to be a classic example.
Providing they aren't on a busy street, my personal experience is that they rent quicker because they have a broad appeal. I also love the ones that have bay windows.
Anyway, I'm not trying to say that you all should go out and buy ground floor flats every time. Of course, you should still have to take each property on its merits.
What I am saying is that maybe you should question some of your beliefs. Are they based in experience? Are you just being ruled by emotion and fear or making other people's reality your own?
You may find that a lot of your beliefs are actually just opportunities to learn more.
Live with passion,