There’s a lot of money to be made from UK property investment, especially if you’re planning to build a comprehensive portfolio. However, as with any form of investing, it’s important to gain knowledge and insight into the market before you proceed.
Our experts have compiled a list of their best tips for property investors – to help you find the best buy-to-let property for sale possible.
Top Tips for Property Investment in the UK
Get to know the tax system
There are various taxes associated with buying a second home of any description, and it’s a wise idea to make yourself familiar with them. Fail to do so, and you may end up paying more than you really need to. A good property investment agent or financial advisor should be able to assist.
Start small, get bigger
It’s a wise idea to start with smaller, cheaper properties, then build your way up. For example, apartments often offer a good return, and are generally more affordable than houses. If possible, stretch to two houses at the start of your investment, with the aim to selling one for a profit, while keeping the other one as a form of monthly income.
Don’t jump straight in
You may be keen to get started, but if you buy impulsively, it could cost you in the long run. Take the time to explore your options thoroughly and to work out where best to put your money.
Research alternative ways to buy
In addition to buying through an estate agent, you can also find great houses via a property investment agent (and they’re often not available to the general public). It’s also worth exploring the option of buying a house at auction, as it’s a good way to pick up a bargain.
Diversify your investment
As much as possible, seek to diversify your property portfolio. For example, you may want to select a few different tenant demographics (e.g. students, young professionals and families), or even a few different areas. This means, if your apartment in Middlesex starts losing money, you’ll still have your house in Scotland to rely on.
Find out about future plans
Make it your business to find out what future plans are in place for the location you’re interested in. For example, a new transport link can send property prices soaring, as can regeneration projects.
Look for growth potential
When viewing properties, think about how you can add value to it. Would it be easy to convert the attic, for example? Or, is there space outside to extend the property outwards? Even cosmetic improvements can have impact on capital growth.
The Buy2Let Shop
If you’re interested in buy-to-let property for sale, and you’re looking for expert advice and assistance, talk to The Buy2Let Shop. Our team of professional property investment agents are on hand to help you find the ideal place to purchase, and we’re with you along every step of your investment journey.
To find out more about how we can assist, visit The Buy2Let Shop website today.