Where should property investors put their money?
March 14, 2023
When it comes to property, there are no hard and fast rules when choosing where to invest. The UK has a rich, diverse and ever evolving swathe of properties. Modern ecological homes, compact energy efficient apartments, Victorian terraces; modernised and others in need of development, suburban new builds to some of the finest country estates in the world. From Art Deco, Tudor Edwardian to ultra-modern there is an endless choice, and where you choose to invest comes down to your vision, budget and individual aspirations.
The possibilities are endless, it could be that you are a seasoned investor and you have now turned your attention to creating flats in what were terrace houses. Perhaps you are making your first steps on the buy-to-let ladder by letting your home.
Perhaps you enjoy refurbishing properties or simply looking for a rental ready property that needs no work for a solid and straight forward investment, managed by a letting agent.
A good opportunity is just that!
It’s no secret that property prices increased rapidly over the past few years. Great investment property opportunities exist in Wakefield and the surrounding area. Right now, as property prices increases cool there is a greater scope for investors, still allowing a little more budget for development. As a landlord you can raise standards and look to achieve a greater rental yield.
To calculate rental, divide the difference between annual rental income minus the annual costs, by the purchase price of the rental property. You can find many rental yield calculators online which will save time when calculating what is an appealing investment.
Every property is unique and while rental yields differs from property to property, and from region to region, there are other factors to consider, as you seek your ideal property investments it’s important to focus on more than rental yields.
How quickly do you want to let your property?
Refurbishing a property depending upon the level or work involved can take time. Investing in an already refurbished flat means it can be let out immediately. Waiting for builders or materials while you refurbish a terrace house or suburban detached house, can eat into your rental revenue. That said, letting a larger house room by room could offer a greater rental return and could be easily worth the investment of time and money.
What motivates you?
There are many developers and landlords savvy enough to realise that raising the standards of let properties is a passion that makes a lot of business sense. Providing the best possible property to let may cost more initially but it will increase, the value your property and rental revenue and attract great tenants.
Not entirely sure where to invest in the property market? Contact us today to see how we can help.