How far from a city would people be willing to rent?

Question

MoneySense says Brentford is the best choice for investing in 2018.

Costs are ok-ish in the 250,000 - 350,000 range for a 2-3 multi family.

But if I was looking for 150,000 while finger-crossing to stick with the “1% rule”, I’d be in the outskirts.

Then I got thinking “how far away are people actually willing to stay from a major city, and rent rather than buying?”

Thoughts?

Roy Cleeves · Answer

It depends upon the size of the city they are on the outskirts of.

For example a smaller City where you can travel the City itself in 15 mins - the average distance they might want to travel would be 30 mins.

If a bigger city and everywhere takes 30 mins to drive then the tenants would probably consider renting 1 hour outside of that city.

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