Buy To Let Comprehensively Explained
10 Essential Buy To Let Tips
1. Research the market to choose the right Properties
If you are new to buy-to-let, what do you know about the market? Do you know the risks, as well as the benefits? Make sure buy-to-let is the investment you want. Your money might be able to perform better elsewhere. If you know someone who has entered the buy-to-let market, ask them about their experiences, or chat us.
2. Choose a promising area
Promising does not mean most expensive or cheapest. Promising means a place where people would like to live and this can be for a variety of reasons. Where in your town has a special appeal? If you are in a commuter belt, where has good transport? The Location of Schools and Shopping Centres. Where are the good schools for young families? Where do the students want to live?
Have a look at the rental market and homes to buy in your town on www.johnleeprop.co.za
3. Do the maths
Before you think about looking around properties sit down with a pen and paper and write down the cost of houses you are looking at and the rent you are likely to get. Will your investment work out? What will happen if the property sits empty for a month or two?
What is Buy To Let?The phrase buy-to-let can refer either to the investment strategy of buying a residential property to be let for profit; or to a particular category of mortgage used to purchase a property for letting. For many years landlords have invested in residential property to be let for profit, but since the mid-nineties there has been rapid growth in the property market leading to a surge in demand for rental property which is being exploited by many mortgage providers keen to encourage new amateur landlords |