Why do Glasgow tenements make such good investments?
As a Glasgow property investor you’ll probably already have a preference towards old or new properties. Regardless of where you stand, today we show you why Glasgow tenements are worth considering. Yes, they usually require a little more TLC but in the long run you may find the effort is financially beneficial.
Add more value
Many of Glasgow’s tenements still retain their original layouts with large kitchen dining areas, allowing for an additional bedroom to be added and an internal kitchen fitted. As bedroom conversions can be expensive most people opt to replace an outdated kitchen or bathroom, which can add more value to the property than the amount you have to spend.
Lower factors fees
The majority of new builds in Glasgow have amenities such as a concierge, communal lounges, underground parking, lifts and communal roof gardens. While these are luxurious extras, it makes the monthly factors fees high for regular maintenance and repairs.
Getting more for your money
The majority of Glasgow tenements were built between the late 18th century and early 19th century - they are favoured for their large rooms, high ceilings and original period features by both buyers and renters alike.
Fewer added costs
When developers build new apartment blocks or re-develop, this will usually be on newly acquired land which can be extremely expensive. This means that a premium is usually added to the price of the properties in order to cover these costs. You will also be contributing towards things like the developer’s profits and all the advertising spend that goes into marketing a development which you won't get with one of Glasgow’s tenements.