When it comes to investing and planning for the future, one of the best things you can do is consider property investment. Investing in property is great for several different reasons, and the younger you can start the better, as property values increase over time. Even if it means cutting back on a few things now, it is smart to invest in your future and consider property as an investment strategy. It may seem a long way off, but affordable property investment opportunities are out there, you just need to know where to look.
Find the Best Location
One of the easiest ways to make money is to invest in a property located in an up and coming area. Properties in areas that are yet to feel the effects of development and regeneration projects can be a great way to source an initial low purchase price before the area is enhanced. After regeneration and investment, property prices can rise incredibly meaning your property sells for a higher value and you can make a profit when you sell on your investment. Plans for regeneration can easily be obtained, allowing discerning property investors to purchase in an area set to experience a surge in house prices due to rapid transformations. It may sound odd to invest in a property in an area that initially may seem tired or dilapidated, however these are often some of the best locations for developers due to the amount of and lower cost of land there.
Make a Well-informed Choice
It is important to thoroughly research everything associated with your investment. From your target tenant type to your location to your main aims and goals. Those who are embarking on property investment for the first time may feel a little nervous, therefore it is essential to lay research on which property investment will work best for you. Feel free to ask for help from professional property funds managers such as Lincoln Frost and others. They would be able to provide you with fundamental insight into the state of the market and help you navigate the lending policies set by banks and other institutions. Make sure you have a clear idea of the total costs, which might include solicitor’s fees, ground rent, maintenance costs, and tax before you move forward too. Do as much research as possible about potential areas, upcoming plans, and property prices, and find an investment where the numbers really work in your favour.
Consider Renting to Students
If you have a smaller budget available, student property can be an affordable and profitable choice. Elevated demand, a booming higher education sector in the UK and a genuine shortage in student beds available mean that there are considerable profits to be made by investing in student accommodation. It is worth looking for new student properties in busy university towns like Leicester, Manchester, Cardiff and London. Student property also boasts impressive yields, meaning that you can pay off your investment quicker and receive more rental income.
Get Some Expert Help
Starting out in property might be intimidating at first but there are plenty of experts out there who will be happy to help you on your journey into property investment. Many busy millennials don’t have time to put extensive effort into a property investment and renovate it from scratch. However, there are many other options out there. You will find that working with an experienced property investment company like RW Invest is a hassle-free way to start out in the property. They will also have access to insider information and lucrative new off-plan developments which haven’t been released to the public yet.