Property Investment Tips -


Wednesday, February 13, 2019

Property Investment Tips

Property Investment Tips

Property investment tips are for people who are thinking about entering the buy-to-let market. These investment tips are for you to read first before going into the market. This is because this market can be confusing but these investment tips will help you by providing you with some valuable advice.

One of the most important property investment tips is to find the right property. As obvious as it sounds, you would be surprised at how many people don’t take time to find the right property they want to buy. They eventually suffer the consequences of neglecting this investment tip when they can’t rent the property out.

Two-bedroom flats in the city are a good buy-to-let choice because they can be shared by more than one person. However, a three-bedroom terraced house is a great buy-to-let choice because it will often bring you the highest return on your investment in an area filled with students!

The next property investment tip is to always remember you are buying buy-to-let- property as an investment and not as your personal home asset. This means you shouldn't look for a home just because you would like to own it yourself or start decorating it in your own personal style. Make your decision a business, rather than personal one so you can maximize your investment returns.

Property investment tips also involve you making sure your buy-to-let property is located near a good transportation system. This is because renters usually place high importance on being able to access motorways or public transportation. Read on as we deliver to you other property investment tips.

Hire a mortgage broker who can help you find the right mortgage. I know how hard it can be to find the best investment option out of all the available buy-to-let mortgage deals so find a professional to help. Remember to factor in costs such as legal fees, stamp duty, ongoing mortgage costs and decorating expenses. This will help you to establish a realistic budget. Too many investors forget about these expenses, and they don't put money aside to pay for ongoing repairs and maintenance.

Furthermore, you can consider hiring a professional letting agent who can help you take care of all the important details. This individual can manage the property, collect the rent and vet and select suitable tenants. Just remember that a full management service may eat up as much as 17.5% of your annual rent.

Consult with a tax expert or accountant to determine what taxes you must pay. You will have to pay tax on any rental income received from your investment property, but you may also have to pay Capital Gains Tax. This depends on the length of time you have owned the property and your current tax status.

The last property investment tip we will talk about is not to enter the buy-to-let investment market planning on making a ton of money quickly. This is because there are many upfront costs and property values tend to rise over time.

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