Buy to Let Investment Advice for the UK 4 Tips for Success
Location A good location is imperative. If you are looking at family sized homes then proximity to good school catchment areas will be important. If you are looking for Student style accommodation t...
Location A good location is imperative. If you are looking at family sized homes then proximity to good school catchment areas will be important. If you are looking for Student style accommodation then properties close to colleges or transport links to colleges are good. There is also normally a Student Area of most College towns, typically where the larger, older houses with multiple rooms are found for an affordable price. If you are thinking of a modern apartment, then locations in the centre of town or near pubs, restaurants and shops are ideal places for young professionals to rent.
Avoid: Rural areas there is a limited market. Bad neighbour hoods
Property Type we have already discussed 3 types of property above. These all have advantages and disadvantages. The UK rental market is flooded with 1 and 2 bed apartments which have been bought by investors. If you choose to purchase an apartment then make sure it stands out from the crowd, either through location, design or price. Consider furnishing, as there are usually less furnished properties available in most areas (City centres excluded).
Larger homes obviously cost more to buy and maintain but are popular with executives relocating with families. They can receive higher wear and tear if there are children or pets present.
Student homes may be in cheaper areas which can over time become trendy places to live realising a good return on your investment. Renting on a room by room basis can achieve a higher overall rent than renting the whole house to a family. The downside is that they tend to not be looked after and can need a lot of TLC between tenancies and may only rent for 9 months of the year during term time.
Rental Value before committing to a mortgage do your research thoroughly. The main property portals will allow you to check the market in the exact area you are considering. Look at:
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ABOUT THE AUTHOR
Steve is Director of Martin Property Management - letting agents for Leamington Spa, Kenilworth and Warwick - Warwickshire, UK.