To Sell or Let? Getting The Best Return From Your Property

Posted by on Jul 23, 2015 in Property Advice |

If you are thinking of moving home you have probably asked yourself the question, ‘Should I sell up or keep hold of my property and rent it out?’ It’s a dilemma that many property owners face, and the decision is not an easy one to come by.

Making the right choice for you is essential. There is no definite ‘yes or no’ answer to this question, it really all comes down to your own personal situation and preferences.

However, there are a few things that you can ask yourself that may make working out where you stand a little easier, and we are going to take a look at some of them right here.

Do you need the profits from your home in order to move up the ladder?

keys for propertyOne of the first questions you must ask yourself is whether or not the equity tied up in your current home is going to be needed for your next move. Obviously, if the answer is a resounding ‘Yes’, then selling is really your only option.

On the other hand, if you do not need all of the equity, you be able to acquire a home equity loan or refinance in order to make the down payment on your new property.

Are you moving because you want to or for work reasons?

We mentioned work reasons, but there could be any number of factors that initiate a move. The main thing to ask yourself is if the move is going to be a permanent one or not. While that job transfer may seem like the right way to go now, further down the line you may want to return to your roots. Knowing why you are making the move will help you decide whether or not you should keep hold of your property.

What is the rental market like in your area?

Knowing the property rental market is an essential element that will help you make the right decision. If you’re current property cannot pull in enough in rent to cover your mortgage and expenses you are going to need to take a serious look at how much you can afford to put into yourself to cover the shortfall. Bear in mind too that you may incur periods where the property is left empty and you will have to cover all of the costs.

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What is the For Sale market like in your area?

If you can afford to take on any shortfalls and you have a fair idea that the property market is going to rise for the foreseeable future, renting the property out will look more attractive. Analyse what has happened in past and research what kind of growth there has been locally. This will give you an idea of whether you will see a profit on top of all of the expenses you will incur whilst renting out your property.

Can you remain calm in a catastrophe?

Our final point may seem like a flippant one, but many people who choose to place properties to let simply aren’t suited to the ups and downs of becoming a landlord. Remember, someone else is going to living in your home and accidents can happen. Will you lose your mind if someone scratches your solid oak flooring? If the answer is yes to this or any other similar scenario, you’re probably better off selling up and moving on.

There you have it, five points to keep in mind if you’re thinking about whether to sell or to let. While this may not be a comprehensive list, it will give you a healthy foundation upon which to base your decision – whichever way you decide to go.

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Best Places For The Lettings Market In The West Midlands

Posted by on Jul 23, 2015 in West Midlands Property |

It may be somewhat of a cliché these days, but when it comes to being successful in the property market location, location, location is still the phrase that many of the top investors live and die by. Choosing the correct place to start your buy-to-let empire is vital to future success, so a little research is essential.

With this in mind here are the top four places to invest your hard earned cash in the West Midlands:

Birmingham

Widely regarded as Britain’s second city, Birmingham was always going to make the list. With well in excess of one million residents, it’s hardly surprising that the city offers investors a wealth of choice when it comes to buy-to-let properties. The city’s five universities help keep an even flow of renters entering the area and the local economy is proving strong of late, with Birmingham’s unemployment rate now lower than that of the capital.

west midlands property in birmingham

Walsall

Just 8 miles north-wewillenhall town centrest of Birmingham is Walsall. Investors will be attracted to this part of the West Midlands simply because of the easy access to the rest of the region and the country. The M6 motorway runs through Walsall and the city has attracted some huge businesses to set up shop here.

The RAC have their principal control centre in Walsall and other businesses such as Homeserve plc. and TK Maxx are also present. Property prices are favourable and the forecast for growth is good.

For those working in Walsall and Birmingham the town of Willenhall is a base and letting agents there report a healthy property market, making it one to consider.

Wolverhampton

The second largest urban area in the West Midlands, Wolverhampton offers investors some interesting opportunities. The former market town is now well established and with a population of just short of a quarter of a million people, the demand for housing in the region is favourable. Transport links are good and the local economy is growing thanks to the increase in service sector companies taking up residency there.

Solihull

While Solihull may be small, with a population of just under 95,000 people, its location is interesting. The Birmingham Business Park is based here, as is most of Birmingham Airport, so the area sees its fair share of people moving in and out. Land Rover’s main plant is also based in Solihull along with Enterprise Inns and Paragon, the personal loan provider. Solihull is regarded as one of the most prosperous towns in the wider region and a study in 2013, conducted by uSwitch, ranked the town as the best place to live in the UK.

So, there you have it, our top four places in the West Midlands for lettings. Naturally we have only scratched the surface here and you will need to do a little more digging in order to get the right place at the right price, but this list will set you off in the right direction if you are looking to invest in the area.

One thing’s is for sure, the West Midlands is a region on the move. After a brief hiatus in the late 70s and early 80s thanks to the decline of the manufacturing sector, this is now a part of the UK that the canny investor will keep a keen eye on.

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5 Useful Pieces Of Property Advice

Posted by on Jul 15, 2015 in Finance, Property, Property Advice |

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Property investment is one of the best areas you can invest your money and be assured of getting high returns. The property industry is growing very fast as a result of increased demand of different properties by customers. However, just like any other type of investment you need to have skills and knowledge in order to succeed. When you start as a property investor, lack of knowledge can lead to costly mistakes. This article provides five great tips that will help you succeed in this area of investment.

Select the right property type

Success in property investment will only come if you choose the right property. In case you would want to get involved in the buy to let market, flats are the best investment option. Your budget will be the greatest determining factor, but if you can afford, you can choose a double bedroom flat instead of a single bedroom. If it is possible to raise your budget further, you can have a second bathroom too. The main idea here is to select a property that would attract high number of tenants.

Choose an appropriate location

When buying a property either for investment or personal use, location is still the main factor you must consider. The demand for rental properties is still very high, but choosing a property in the right location will help you get maximum income on your investment and get the attention of the right kind of tenants.

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Organise your finances early

When you find the right property, you should be in a position to move quickly so that you do not lose it to other competitors. In case you do not have cash money, you should get pre approved for finance. This will help you be in a strong and perfect negotiating position. Make sure that you apply for financing earlier, so that you can understand on the amount you can afford to spend.

Understand your long term goals

In case you want quick return from your investment, you should invest in properties in new areas that have high rate of growth. For long term investment, already established areas will be best for you. However, you need to understand that properties in up and coming areas that have high growth rate will cost you more than those in other areas. This is a factor you must consider when making your investment decision. Investing property in areas that the demand is low may be a bit risky because there are times your property may stay for long without tenants. This is why it is important to have enough money, so that you can invest in properties in high demand areas.

Get motivated sellers

A motivated seller is a person who wants to sell and sell quickly. An owner of a property who is not in early to sell will be able to wait for a great offer to come. A motivated seller has the ability to accept what they think is a good price for their property as soon as that price is presented.

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