Meticulous online research. This is what comes before every decision we make nowadays, especially the ones that involve us spending money, be that simple shopping, vacation planning or investment.
We live in the age of information. Not only is it easily accessible but the sheer volume of it is staggering. One single search query can generate an endless ocean of data to navigate through if you want to make an informed decision. And knowing that the information we need is readily accessible compels us all to dive into this ocean because we do want to make the best decisions.
That’s why innovative ways to help us conveniently consume information have become so valuable.
One of such tools is Zingat’s Area Report. It presents practical data to help potential real estate investors familiarize themselves with the location of a selected property. As anyone who has ever looked for a place to buy or rent knows, learning about what the surrounding area is like is crucial – no one is fond of unpleasant surprises. Yet it is not an easy task without a reliable source.
How does the Area Report work?
To make this as convenient as possible, the Area Report is included in every property listing, so that you can find everything you might need to know on one page.
The report includes two parts: the housing market information and demographic information.
The market information tells you about the key economic factors for real estate in the area. You can find average prices for a standard property (both sale and rent), their changes over the years and the time of return on investment.
Knowing such details is crucial to analyze the financial side of your potential investment.
Meanwhile, the demographic information will let you learn more about your future neighbors. Obtaining this info is important regardless of whether you are buying the property to live there yourself or purely as an investment.
The data-based report shows detailed demographic data on the area’s residents, including their age groups, marital status and education level based on latest degree. It also includes some statistics, including the overall population of a neighborhood and the annual change.
Moreover, there is a section called the “socio-economic conditions” where Zingat evaluates the area with a letter grade, a system you may know from school.
The letter grades for areas are granted based on three factors:
• Livability: Accounts for population, housing density, accessibility to health care and public transportation, crime level and life satisfaction data.
• Welfare level: Based on sale and rental values
• Cultural level: Calculated according to residents’ education level and number of cultural facilities.
It’s a particularly handy tool that visualizes data on the population of the neighborhood, so that potential buyers are at least somewhat familiar with the residents and can make a decision accordingly.
Zingat’s Area Report provides users with as much relevant information as possible to help them make an informed decision when buying a new home or making a real estate investment.
