Investing in Real Estate – Can they help you grow your dollars and earn good profit?

12 Apr

Are you interested in real estate investment? Do you know that investing in this market will help you grow your money very fast and earn good profit? There are definitely several pros and cons associated with real estate investment. You will have to gather sufficient knowledge about the real estate market before you decide to invest your hard-earned money here. Since this kind of investment requires good amount of cash, many people cannot afford to invest in this sector. In a real estate investment, the investor purchases a property by checking its present value and the profit it can bring in the future.

4 Tips for Investing in Real Estate Investing in Real Estate

Read on to know about the 4 tips you need to know for real estate investment:

  • Start by making small investment – You can buy a house to keep it as investment even when you already have one. This will help you start your business with little investment. It’s advisable that you do not purchase many properties at a time when you’re making small investment. This is because if the price of real estate falls suddenly, you may have to face loss in investment.
  • Begin from your own place – It is a wise decision to start real estate investment from your own place where you are well-known. It is very common that people like to purchase real estate from a known person. So, it’s important that you have good reputation in your place. This, in turn, will help you get more customers and increase your high chance of earning profits.
  • Try to invest more money – You will require more money if you’re planning to go for real estate investment. Make it a point to check out your financial condition properly before investing in real estate. In this way, you’ll be able to make more money by investing in real estate.
  • Do not make cheap investment – The real estate investors often commit the mistake of buying cheap property with the hope that it’ll bring them good profit in return. It’s advisable that you do not purchase inexpensive property. Before purchasing any property, find out whether or not it will fulfill your exact requirement. In case you buy cheap property for the sake of money, it can be the most valuable property for you if it does not bring you any profit in future.

Make it a point to gather proper education on real estate investment when you decide to purchase property. Try to build good and healthy relationship with the real estate agents within your area. This way, you will be able to invest in the right property and make good profit with it in future.

About the Author:

This guest post was contributed by the guest blogger, Shannon Williams.

Top 10 tips when purchasing a Buy-to-Let Property

12 Apr

purchasing a buy-to-letHere are just a few tips to help you if you are thinking of purchasing a buy-to-let, courtesy of Propsavvy.com

Research Location

Research thoroughly in a location before even deciding to invest. Check for local amenities, transport links, schools and more. These factors will all have an effect on the value and rental demand for your property

Define Tenant Profile

Think about what type of tenant you are looking for to reside in your UK property (family, young professionals, students) and present the property according to this type. There is no point producing a five star quality home when the local rental market requires student accommodation – you’ll be wasting your time and money. If your property is classed as a HMO (House in Multiple Occupation), make sure the property has a licence to operate from the local council.

Talk to a broker

Some buy to let mortgages are not available direct so get a complete picture of the finance available, consider using an independent specialist broker that has access to the whole market. They will have the necessary experience to match your borrowing needs. Make sure you use a broker that is part of the National Association of Commercial Finance Brokers.

Monitor buy-to-let rates

Monitor market rates and compare them to yours. Look to see if switching to another rate makes more financial sense. Make sure you are getting the best deal possible.

Maintain your property

Weigh up the pros and cons of maintain your property yourself or paying a letting agent to do it for you. If managing yourself you need to consider whether you have the right skills and contacts to make sure things are done quickly and efficiently.

Check your tenant

Undertake credit reference checks on new tenants. Tenant referencing checks can cost as little as £10 per person. You should also ask for an employee reference.

Protect tenant’s deposit

You must, by law, protect tenants deposit via a deposit protection scheme. Failure to protect the deposit could result in you having to compensate the tenant up to 3 times that of the deposit.

Claim Landlord Insurance

Landlord insurance is designed specifically for rental properties and covers circumstances not covered by normal household insurance. If you own multiple UK properties you could save money using an insurer that will provide cover for all properties on a single policy.

Keep Records

Keep accurate records for each UK property you own. Create a simple spread sheet or if you have a number of properties you could hire a bookkeeper.

Become Accredited

You can get support from your local council, many of which offer accreditation schemes to help landlords protect tenants interests.

Hopefully this helps you when purchasing a buy to let property. If you need any more help please contact Propsavvy for further information on this and other BMV property.

 

Why Dalston is a good area to buy a property

12 Apr

Buy property in DalstonGentrification is a slow process. It takes most areas ten to twenty years to make the transition from down trodden to desirable, and sometimes even longer. Dalston though is an exception to this rule and seems to have somehow fast tracked. In the space of about four or five years, it has become extremely cool and a great hub for arty types who can’t afford Clerkenwell, Shoreditch or Hoxton for home buyers.

Dalston is centred around the high street, specifically Kingsland Road, which runs south to Shoreditch and North to Stoke Newington, and where grubby shops and pubs have given way to trendy bars, cafes, clubs and boutiques. Some of the cash funded from the Olympics has created a new railway station – Dalston Junction – on the East London line, and trains run frequently to West Croydon and Crystal Palace via Canada Water and Surrey Quays.

Connections to the City, West End and Canary Wharf are already good: the Jubilee line, Victoria line and DLR can all be picked up within a few stops – and they’re about to get even better. The area’s other station, Dalston Kingsland, is on the North London line, linking Stratford and Richmond, and there are numerous buses. Dalston is in Zone 2, and an annual Travelcard into Zone 1 costs £1,168.

At the heart of the regeneration scheme sits Dalston Square, a huge development featuring a public square, shops, restaurants, a library and archives as well as the well renowned station.

Most of Dalston’s housing is somewhat older – a typical inner city mix of Victorian and ex local authority properties, plus a smattering of Georgian buildings. The spacious 19th century houses in the streets of Kingsland Road were long ago converted into flats, and home buyers after period family houses head to the conversation areas in pricey London Fields or De Beauvoir Town. These houses have remained the same but other aspects of Dalston have changed enormously.

Dalston’s upturn is reflected in property prices. A one bed period flat starts at around £270,000 and two beds range from £350,000 to more than £600,000. People who live on the N1 side want to say and announce they live in Dalston, whereas in the past they would have called it Islington. The areas trendiness is reflected in the letting market too. One bedroom flats start at around £1,000 per month, so there’s something in the area for all, even if you are on a budget.

If you are looking to buy property in Dalston or need more information on Dalston properties, you can contact Propsavvy, the leading property buying agents

Buying a property in Enfield

12 Apr
Buying a Property in Enfield

One of the desirable parts of Enfield is River View, a picturesque street of charming terrace houses

The fringes of North London are dotted with dozens of family friendly, if unexciting suburban areas, but Enfield’s just a little bit different. Although it is not really described as edgy or hip, this town certainly has a few surprises up its sleeve and is held in great affection by those who have chosen to make it their home.

Enfield is only a half an hour journey away from the City and West End. Trains run from Enfield town to Liverpool Street and from Gordon Hill and Enfield Chase to Moorgate and King’s Cross. Alternatively, first time property buyers can pick up the Victoria line at Seven Sisters or Finsbury Park for speedy access to Oxford Circus. All three of Enfields stations are in zone 5, and an annual travelcard into Zone 1 will cost you £1,992. Road connections are even better with the M25 to the north and the A10 to the east.

One of Enfield’s greatest assets is its open space. It has a wide number of parks and landscaped gardens throughout, including a 160 acre Forty Hall Park, which includes woodland, informal and walled gardens and an ornamental lake dating back to the 18th century.

Enfield is also blessed with some fantastic historical pubs as well. These include The King and Tinker, the Crown and Horseshoes, in a picturesque riverside setting, and the 17th century Pied Bull, renowned for its tasty Sunday roasts.

Unlike many suburbs, which are packed with 1930’s built homes, Enfield has an impressive selection of period properties. The elegant Georgian houses in Gentleman’s Row in the town centre, rarely come onto the market, and there are plenty of Victorian and Edwardian houses in and around Bush Hill.

Quite a few homebuyers in this area are families moving up the A10 corridor from areas such as Edmonton and Tottenham for the schools. Older homes to buy are located on the western side of Enfield and the cheaper east has more 1930’s and ex council houses. In the east you’ll pay from £120,000 for a one bed and from £150,000 for two beds. In the west this will be £160,000 for a one bed and from £180,000 for two. Three bed Victorian terraced houses for sale start at just over £300,000, so it’s no wonder upsizers from Muswell hill are laughing. For those home buyers looking for a new build there are one and two bedroom apartments in Enfield Central, close to Enfield Town Station. Prices start at £177,000, and much interest is anticipated from investors as well as owner occupiers. Across Enfield, landlords can expect good returns, with one bed flats renting from £750 per month and two beds from £900.

If you need professional help finding your desired property type in your chosen area you should employ the services of a professional buying agent to do the work for you. These types of companies can substantially increase your chances of finding your dream property and also remove the hassle, cost and risk of going it alone. The UK’s leading property buying agent and most widely used can be found with Propsavvy and can revolutionise your buying experience. Buy Property in Enfield today!

Making an Offer on a UK Property

12 Apr

Buying a property in UKWhen you are confident you have found the right place property you can make a formal offer on it. If you are dealing with a professional property buying agent instruct them to take control of the buying process to save you time an hassle and insure the best possible price when buying alternatively if you are dealing with an estate agents you may be given the option to pay a holding deposit to the estate agent, held on behalf of the buyer until it is time to exchange contracts. This will be refunded if the seller pulls out of the deal.

You will need to fill out a formal application to your chosen lender for a particular mortgage. The lender will need information about the property and yourself. They will make checks that will consider whether you are able to pay off the loan off a long period of time and that the property is in a good condition. This is usually assessed by a qualified surveyor.

What does a surveyor do?

You need to know you are getting good value for money and your lender needs to be certain the property is suitable security for a mortgage. The lender will commission someone to evaluate the property. The valuation isn’t particularly thorough so you need to consider a more detailed inspection, a survey called a Homebuyer’s Report will do this for you, or if you want to even more meticulous a full structural survey. The Homebuyer’s report gives a good general overview of the property. A full structural survey goes into more depth and is advisable for considerably older UK properties.

Advance

The lender will make a mortgage offer based on the valuation of the property or the purchase price –whichever one is lower. Once you have agreed to this offer the legal procedures need to be completed before the property finally belongs to you.

What is the role of my solicitor

The main job of your solicitor will be the legal transfer of ownership of your new home. Before engaging with any solicitor, ask them first how much they will charge for their service and then shop around for quotes. The cheapest deal isn’t necessarily the best as these can sometime have an impact on how well the solicitor does their job well.

When contracts have been drawn up and agreed and your solicitor has received your mortgage offer, then contracts are exchanged. At this point the price is fixed and the purchase is secured. A 10 per cent deposit is normally required at this point, but this is negotiable if, for example you are borrowing more than 90 per cent loan to value. When you finally own the property, it is usually one month from the date of exchange, but it can be shorter or longer depending on what both parties agree.

The feeling of purchasing your own property is indescribable. Making an offer and it being accepted is a long process, but well worth it if you go by it in the correct manner. All you need to do thereafter is to move, which in itself can be an even bigger worry.

Author Bio:
John Savvy is a professional buying agent working on behalf of property buyers & assists them in climbing the property ladder. If you need any assistance to buy property in UK, I’m always there at your service. You can contact me @ 02085175550 or else visit: www.propsavvy.com