You can profit by owning houses other people pay for!
Despite the uncertainties of the economic climate, people continue to turn to investment in residential property as a home for their hard earned cash. The attractions are not hard to see. If done properly you can build up a portfolio of residential property paid for by someone else!
However as with other forms of investment it is essential to take the right advice. Buy to Let isn't for everyone. It is important to be aware of the pitfalls of residential property investment as well as the prizes. Some "quick fix" investors are choosing the wrong properties, in the wrong locations, at the wrong price, and managing them badly. It is essential to get the sums right.
Buy to let is not a short-term investment. It is medium to long term – 10/15 years is fairly standard. Investment needs to take account of both capital appreciation and rental yield.
Those involved in the private rented sector generally agree that tenant demand is likely to grow significantly and steadily over the next few years.
A number of factors are behind this:
• The increase in the age of the first time buyer from 21 in 1988 to 34 today
• Increasing numbers of people who choose to live alone or who need to because of growing marriage breakdowns
• Increasing difficulties for young people in getting on the bottom rung of the housing ladder
• Changing attitudes among young people to traditional long term mortgages
• Increasing job mobility and contract working
• Loss of homes through repossessions
All Buy to Let investors need to keep a close eye on the housing market, which continues to undergo a period of change and some uncertainty. We would urge any existing or potential buy to let investors that are nervous about the next year or two to pop in for a discussion.
We have many years of experience in residential management in West Lothian and can offer knowledgeable and practical advice. We believe that through our services we can play an important part in maximising property investments.
Too many landlords are vulnerable when unwittingly dealing with unregulated agents and when market conditions get tougher we know that our clients need sound advice. Proper research and local advice from accredited agents can help landlords and investors to decide whether to enter or indeed leave the market.
We are happy to chat through the options.