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Welcome to our Frequently Asked Questions. Click on a questions below to display the answer.
What would you say are the properties you should be buying and what should you be avoiding?
This depends on the circumstances. Investment- Buy- New Build on Smaller developments, where their will not be large scale competition on resale and rentals-
Avoid- Older properties in need of TLC-without suitable budget also properties with very high maintenance charges as this can seriously reduce rental income potential- owner pays this not the tenant.
Private- Buy, where good infrastructure is available, unless you always want to use the car. Avoid 5 bedroom cupboards when a good 3 or 4 bed gives better value and resale ability.- Avoid places with no shops or amenities- If you cannot get a pint of milk or bread within 10 mins walk in urban areas think about it.
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What is the importance of Location?
Very important, convince has to be the key, the re saleability and the amenities are paramount when choosing a property to buy. It’s important to think outside the box and research the next predicted place that is going to be big and not go to areas that are already popular, if buying for investment.
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Do you have any tips for enhancing the value of the property?
Depending on where you live its important for the value of a property to have off street parking, upgraded gardens , conservatories, ensuites bathrooms, double glazing, central heating, loft conversations if possible, and off course keeping the property clean and tidy even if it needs updating decoratively.
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Are there any easy ways to sell a property?
Most importantly be real with the purchase price and ensure you do your own market research as too what selling in the areas similar to your property.
1. Give your estate agent clear instructions as too what your timescales are to move and don’t be shy.
2. Being proactive yourself, chase the agents to give you feed back after each viewing, also look at advertising yourself i.e.: leaflet drops, notices in the local shops and schools.
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How would go about finding the perfect rental investment and tenant?
Research the areas that have had a good capital growth and predicted growth, also a high population of people moving into an area for possibly schools, or hospitals, etc.
Regeneration areas are key and how much money is being pumped into an area, by the government and business as this will undoubtedly be areas that will increase in value. If buying new build properties looking at how many other rental properties are being brought for the same reasons, can sometimes not actually be such a good investment.
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What are the top 5 tips for keeping within your budget?
1) Research and confirmation your financial situation by your mortgage supplier. Don’t over borrow, you have to pay back.
2) Think 2, 3 years ahead as life constantly changes
3) Take good impartial advice not related to buyers and sellers Also your solicitors are full of knowledge don’t be afraid to ask there advise
4) Get a minimum of 3 estimates when instructing suppliers, estate agents, and solicitors, cheaper isn’t also better remember.
5) Don’t spend unnecessarily and if buying and decorating for investment and rentals purposes don’t spend to your taste, think practical. Spend money after the rental finish and not before.
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What are the top tips for spotting an up and coming area?
1) Changes of local business and enhancing chain related stores
2) New infrastructure, new roads, rail links, shopping cities,
3) I call it the domino effect. When an area gets too popular and the prices peak, the surrounding areas will see a rapid improvement in their markets, as buyers start looking again at affordability- rather than location. –These areas also show a good increase in Rental yields. Once prices in these areas rise, then location will become important again.
4) Schools that have a high exam pass rates that are popular amongst the local community.
5) Government sponsored de-industrialising- i.e. Olympics, sports centres, theme parks, retail parks.
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