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Is it really a good time to purchase a buy to let?
Over the last 3 years, the demand for rental properties has continued to increase, with tenant demand regularly exceeding the number of available properties. Therefore, providing a property is marketed and priced correctly, letting it should be straight forward in the current market.
Although in recent months, we have seen an increase in interest rates, this has not deterred investors from entering the marketplace. Instead, offsetting the higher interest rates against better yielding properties.
But what should you consider when buying a buy-to-let? It is always a good idea to detach emotions away from an investment property, and instead look at the cold hard facts. Look at evidence of comparable properties that have recently let, and when comparing various properties, calculate the approximate yield return…this is the best way to compare apples with apples.
It is always worth seeking the advice of an expert when considering what work to do in your new investment. A letting agent will be able to advise on what you should do to maximise the return, as well as the tasks you should avoid.
If you would like to take advantage of Dan's knowledge and experience, then feel free to get in touch here.