30 Apr Investing in property? What you need to know.
As the leading estate agent in Virginia Water and the surrounding area, we are approached by people from all walks of life for advice on their property options. When it comes to properties for sale in Virginia Water there aren’t many teams with more experience and expertise than ours. Whether it’s renting a property for your family or moving in to the area, we are on hand to guide and advise on every eventuality. We have a fairly unique lettings market due to there being several international schools in the local area which attract the ex-pat community.
We are often approached by people looking to purchase properties as investments as the lettings sector in the area is very popular among people looking to test out the area before they buy and relocate permanently.
So we have put together a list of things you need to consider before you venture in to the arena of buy-to-let.
Is buy-to-let everything you want?
If you are new to buy-to-let, what do you know about it? Are you familiar with both the risks, and the benefits? Make sure buy-to-let is the investment you want. Your money might be able to perform better elsewhere. The more knowledge you have and the more research you do, the better the chance of your investment paying off.
All about location
Investing in ‘promising’ areas does not necessarily mean the most expensive or the cheapest. Make sure you look for a place with good connectivity and desirable amenities – people are often keenest to live near good schools and green spaces – luckily Virginia Water and the surrounding areas are awash with all of these.
Manage your financial expectations
Before you start looking at properties, make sure you set yourself some reasonable expectations regarding your investment. Make sure the mathematics works for you. If you are buying with a mortgage you need to be sure that your rental charges not only cover the repayments but also cover all other expenses
Research the best buy-to-let mortgages
While your current mortgage provider might have mortgage products which seem attractive, the chances are there are better products out there, if you take the time to search for them. We recommend speaking to an independent broker who has access to the whole market and is not affiliated with a ‘panel’ which can be restrictive.
Think about the type of people who will be interested in your property. They may be different from you. What would make your property stand out from the rest for these people. Making a property attractive to a specific target market will help you get your property occupied and hopefully make your tenants stay for longer.
Grab a bargain
As a buy-to-let investor you will have a strong position when it comes to purchasing a property. As you have no chain you can take advantage of the vendor’s desire for a quick sale and negotiate hard on the price. Make sure you have researched the market to see how long properties are taking to sell – this might also give you an edge.
Speak to us about our fully managed service
Buying a property is just the first step; you will need to manage the tenancy. Thankfully we offer a fully managed service, so if you are not local to the area you can instruct us to ensure everything runs smoothly with your tenancy. This includes collecting rent and managing any maintenance using our trusted tradesmen.
Get in Touch
If you are looking for a property in which to invest, make sure you take a look at our amazing properties for sale in Virginia Water and the surrounding areas. If you’d like to speak to someone about your property options, a member of our expert team would be happy to help. You can call us on 01344 843000 or email us. You can also follow us on Facebook, Twitter, Instagram and LinkedIn.