Helpful Tips for Making the Best Property Investments in the UK

1.  Are you interested in buying property from probate or repossessions? If YES, Click here Property Classifieds The Home Of UK Property Resources Contact Hello, Sign in Register Home / Blog / Helpful Tips for Making the Best Property Investments in the UK Search Website Blog Keyword (Optional)  Select Category Search Now Back to search results  LIKE Posted on 09/06/2021 in For Investors by Property Classifieds Press Helpful Tips for Making the Best Property Investments in the UK

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3. Over the past few years, the property market has opened up to investors from all walks of life. No longer is property investment solely the remit of the wealthy and privileged. Today, investment in property comes from small, local investors who are part of a group, new landlords that have entered the buy to let (BTL) market, to the high end property market.  However, whether you’re a beginner in property investment or a seasoned professional, there’s always room to learn something new. We’ve put together our top tips to making the best property investments that we hope will help you in building your property investment portfolio. Top tips for the best property investments 1. Decide on the property sector – before you go any further into property investment, make the decision on whether you are intending to invest in the commercial or residential market. Opting for the commercial sector will keep tax lower when purchasing property. With the residential sector, mortgages are easier to acquire and tenants could be more profitable, particularly with the trend toward working from home and many businesses giving up their commercial premises. 2. Set your goals – ask yourself, why property investment? What are your ambitions with investing in property? Are you looking to invest in several properties to earn a main income or a second income? Do you want to build your own property portfolio? Whatever your goals, make sure they are realistic. 3. Choose your location – where you decide to invest will have an impact on how successful your property investment venture will be. Consider areas that are up-and-coming, such as the regeneration-focused areas of Manchester, Liverpool and the Midlands. Choose locations that are convenient to transport links, leisure facilities or good schools. If you’re aiming for the student market, head to a town or city that has a university. If you’re looking at the family rental market, you may want to look at properties in residential hotspots on the outskirts of towns and cities. 4. Visit the area – once you’ve decided on where, take the time to visit the location. This is all part of your detailed research. Speak to local estate agents and get to know the better areas. Work out where the train stations are in relation to your intended investment property. Is it easy to reach the local shops, supermarket or town centre? Are there good transport links not only to nearby towns and cities, but also to schools? 5. Type and style of property – the type and style of property you are considering has a part to play in your property investment journey. If you’re targeting the student market, decide on whether you are opting for flats or houses of multiple occupancy, i.e. students sharing. With this sector, there will be a higher turnover of tenants than you may have if you opted for a family home. Next is to think about the type of property investment. For example, are you looking to ‘fix-and-flip’ properties or do you want a BTL property portfolio? This decision largely depends where your interest lies and what you want to get out of your property investment. If you’re considering fix-and-flip, make sure you have a band of tradespeople ready to work with you. You may find that purchasing at an auction is a better value option than via a local estate agent. If you’re looking at the BTL market, think carefully about the type of tenant you want, such as a young couple or a family. 6. Do your research – once you’ve got your plan set out for your property investments, it’s time to get down to doing your research. Get to know the market in the area you’ve chosen. Look at market trends, locally and nationally, and keep up-to-date with the latest initiatives. What is the average house price in your area of investment? If you’re going into the BTL market, what is the average rental yield you can expect?

4. 7. Get your finances in order – whether you are buying with a mortgage or cash, get your finances in order. Get your mortgage offer in principle from your lender. Let your bank know what your plans are to avoid any delays. Don’t forget to allow enough funds to pay for the legal process. Always put aside a portion of your funds to cover any unexpected expenses that may occur, such as any running repairs to the property.  8. Start small – it’s tempting to buy one property, and another, and another in quick succession; building a property portfolio takes time and there is no rush. Each time you invest, you learn something new. Buying just one property a year is enough to build a solid portfolio of properties. Over time, build a team around you that includes a good solicitor that is able to advise you and handle the legal process, as well as an accountant, mortgage broker and tradespeople. It is also a good idea to cultivate a team of estate agents and like-minded entrepreneurs who are able to help you source the best deals. Becoming a property investor is the dream for plenty of people, and today, it is not the privilege of the few but the opportunity for many. At Property Classifieds, we help sellers find suitable estate agents near me in Norwich. Our free service provides sellers with the best advice on how to sell their property, and with whom. If you’re looking to sell your property, have you considered contacting investors who want to increase their property portfolio? By listing your property for free on Property Classifieds, you are putting it in front of hundreds of investors searching for a property to buy in Norwich. If you’ve been approached by a developer or property investor regarding selling your house, Property Classifieds should be your first port of call for valuable advice and guidance. Connecting motivated sellers and buyers across the UK, we have a wide range of investment properties and property development opportunities in your local area, too. Contact us today for more details.

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