Why invest money in property?
People save up their entire lives to purchase a property investment, and its worth the wait. Its great to purchase your own home, its better to purchase an investment that pays you back.
Check out our 3 easy steps to help you invest in property for the first time:
Step 1: Check how much you can borrow. Speak to a mortgage broker to get a mortgage in principle BEFORE you start looking for an investment. This way, you don’t waste time looking a the wrong properties as they are either below or above your budget.
Step 2: Use the experts. Find a property sourcing agent and give them your budget. Get them to do all the leg work for you. A property sourcing agent in Yorkshire will have expert knowledge of the purchase price, renovation costs, and how much the property will rent for.
Step 3: Plan ahead. Plan for an exit strategy before you purchase your property. Get figures on how much it will be worth after a refurb, plan to attain this value within 12 months from a Registered Institute of Chartered Surveys (RICS) qualified valuer, and use the funds you can pull out of your first investment to purchase your second property. Rest assured, even in an unpredictable property climate, if you purchase smartly, you will endure anything the market throws at you.
For further advice from the property experts in Leeds, give us a call or come down to our office for a coffee:
Angels Wing 3,
0113 222 4537