Five Golden Rules for Your Buy-to-Let Investment
Discover five of the best tips for your investment below:
Traditional buy-to-let can be a tough market, but there are alternative options for a safer and easier investment. First of all, there are interesting buy-to-let schemes outside of the UK, which can carry more benefits for investors, so consider overseas property. Also, specialised residences such as tourist accommodation, sheltered housing and student lets often have different incentives to residential rentals. For example, a tourist residence bought from a commercial provider can produce guaranteed rent without you needing to maintain the property, as the company is your tenant. Plus, depending on the lease you choose, your asset could be your holiday home too!
Receive professional support
Whether you are a seasoned veteran to the buy-to-let game, or this is your first venture, you should never underestimate the value of consulting a property lawyer (or notary abroad) and investing with a specialised company. In some countries it is illegal to draw up contracts and pass over property ownership without legal support and this is for a good reason: professional advisors have a wealth of knowledge and can ensure that your investment goes to plan, without any setbacks or downfalls.
If it seems too good to be true, it probably is!
Although investment bargains can be found through up-and-coming locations or making the most of a fall in house prices, when it comes to property, you should always stay away from inexplicably cheap opportunities, as this may mean that the residence has something to hide. However, one way to find affordable and profitable buy-to-let properties is to look across the channel; countries such as France and Spain have excellent weather, sought-after locations and… lower house prices! These combined are a recipe for successful buy-to-let investment.
Do your research
Whether it’s a visit to the property, or a thorough background check, you need to know the property you are buying and who you buy it from. In the UK you can ensure a secure purchase by using a known estate agent and going for a look around. Although it might seem complicated abroad, finding a good property with a trusted seller is easier than you might think! A foreign market leader such as Pierre & Vacances Property Investment is both experienced and trustworthy, meaning you don’t need to fork out on visits to check a property before you buy – an online search with a reliable company should suffice.
Choose with your head and your heart
When choosing your buy-to-let property, look at the most suitable and enjoyable options. Property investment doesn’t have to be time consuming, it can mean finding your dream holiday home and receiving a reliable income from it. However, buying a traditional residence can mean reduced rental income and more work for you. Instead, take a look at service-providing residences with guaranteed rent and profitability that require less maintenance on your part, so that you can truly benefit from your investment.
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