Here are a few tips to help!
Be prepared to wait it out
Chances are property prices over time, will increase. Property now, is a lot more expensive than it was 20 years ago (See our previous blogs for advice on how to get a foot on the ladder in these tougher times) so the likelihood is that 20 from now it will have increased in value! So be prepared to wait for your return.
Find the right property
Not sure what you are looking for? Next Home have a range of experts who can help you make the right decision, not only getting the best yield but also the best mortgage rate! (if applicable)
By making improvements to your buy to let property you make it more desirable but make sure you shop around for the best deal but don’t take away from quality!
Similarly this goes for any property you purchase, insure it as much as you can but, in the case of buy to let, also insure yourself against tenants so, take out insurance that is made for rental property and insure yourself against unpaid rent – there are companies out there that will cover the unpaid rent until the tenant is out.
Make sure you get proper references for your tenants and go through the correct checks for any potential tenants that way you are less likely to get stung further down the line.
Here at Next Home we have a team of property experts that can help you select the right Buy to Let property for you and we also have a team of financial experts that can find the right buy to let mortgage but, also help you find the right insurance cover as well!
We also cover lettings and offer a fully managed service, taking the stress away from you when you do find the right property for you! We have everything you need all under one roof. To find out more just call our dedicated team today on: 01738 44 43 42.