SundaysChild Posted March 11, 2008 Posted March 11, 2008 I am wanting to buy an investment property to rent out, I have a budget of about £115-120,000. This is the first time I have done something like this and feel a little overwhelmed with the choices available! Does anyone have any advice on the best type of property/area to consider? All suggestions would be most welcome!
Unregistered Posted March 11, 2008 Posted March 11, 2008 I am wanting to buy an investment property to rent out, I have a budget of about £115-120,000. This is the first time I have done something like this and feel a little overwhelmed with the choices available! Does anyone have any advice on the best type of property/area to consider? All suggestions would be most welcome! Psssssssst... bad timing - property prices are falling. . . .
jamesogt Posted March 11, 2008 Posted March 11, 2008 I am wanting to buy an investment property to rent out, I have a budget of about £115-120,000. This is the first time I have done something like this and feel a little overwhelmed with the choices available! Does anyone have any advice on the best type of property/area to consider? All suggestions would be most welcome! Wait as other poster said, papers say today house prices falling at fastest rate since records began! Buy gold! It always is safe and generally does well when houses and stock market falter!
cbr900 Posted March 11, 2008 Posted March 11, 2008 this is the problem see , people are talking the market into a dive .
marcy Posted March 11, 2008 Posted March 11, 2008 this so called house price property crash just aint happin, the market has just slowed down thats all
shlg Posted March 11, 2008 Posted March 11, 2008 this so called house price property crash just aint happin, the market has just slowed down thats all That still means that buy-to-let isn't a good investment at the moment unless it's over the very long term: even when I did it, when interest rates were a lot lower than they are now, the rental income barely covered the mortgage+insurance: in theory, you make your money from the increase in value of the property (by remortgaging or selling the property). If property prices aren't increasing, you're not making a profit.
md25 Posted March 11, 2008 Posted March 11, 2008 Now is probably the wrong time to buy property in the UK. Don't do it unless you really want a good chance of negative equity really soon!
cbr900 Posted March 11, 2008 Posted March 11, 2008 rubbish , the buy-to-let industry is at one of it's busiest times , often makes me wonder how many people that post on the subject are actually involved in it . We have 4 properties let and 2 on the market for sale and have just had plans passed to build 62 student flats on Edmund Road . If you are going to buy something don't listen to the doom and gloom merchants on here , get one bought and Dronfield has a very strong rental market . However a buy-to-let investment should be seen as a long term investment , but will still return you a lot more than any ISA or pension
Danny_Boy Posted March 11, 2008 Posted March 11, 2008 rubbish , the buy-to-let industry is at one of it's busiest times , often makes me wonder how many people that post on the subject are actually involved in it . We have 4 properties let and 2 on the market for sale and have just had plans passed to build 62 student flats on Edmund Road . If you are going to buy something don't listen to the doom and gloom merchants on here , get one bought and Dronfield has a very strong rental market . However a buy-to-let investment should be seen as a long term investment , but will still return you a lot more than any ISA or pension Agree with your post cbr it always amazes me how some doom and gloomers can end up talking the country into a recession the papers don't help either. House prices are not falling in my area although they are stagnating some what, over the years I don't there has been a better long term investment than property.
lobster Posted March 11, 2008 Posted March 11, 2008 120k buys you a one bedroom flat ,which to get a return of 5% before you have any repairs fees etc you have to rent out at £500 pm .that is £100 to £ 150 above the letting price. yes there are prices advertised at £500 + ,thats why they are advertised they are not let
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