Do it now – but do it right!
The number of buy-to-let mortgages lent to landlords rose by a third over the first three months of 2012, according to the Council of Mortgage Lenders (CML) and without doubt the time is still very much right to consider investing in property with prices holding steady and good availability of buy to let finance.
But, warns leading Darwen Letting agent, Paul Ainsworth Lord, founder of Ainsworth Lord Estates of Darwen – before you get into buy to let, be sure to do your homework first and get yourself armed with the facts.
Advice on hand
Explains Paul,“We operate a must successful advice and guidance service to potential ‘buy to let’ landlords here in Darwen, Bolton, Blackburn or anywhere else in the Region for that matter.
There are a good few matters to consider, so the answer is ‘come in and have a chat’ and I’ll be pleased to help and guide you all I can.”
Where and what is key
Key decisions have to be made when you are aiming to buy to let and getting them right is essential to achieving a successful ‘buy to let’ investment return.
A potential investor needs, if they possibly can, to choose a property in a street that is known to be located in a favoured area. It is also essential to carefully consider the type of property you intend to buy and rent.
Ignore what you personally like!
Should one go for an apartment as there are more singles these days or for a versatile property with a bit more space, which might appeal to the ever increasing number of homeworkers.
The key is to remember to make the decision not on the basis of where YOU would personally like to live, but, on the property which will attract the best potential investment demand return for you
Get the basics right
Adds Paul, “Getting the right advice on often quite simple basic issues can make the difference between a ‘buy to let’ property being a success as opposed to an expensive burden.
I am a landlord and we know lots of landlords, so you can be confident we know the ‘ins and outs’ of making the right choices. We also can assist any potential new landlord with the management and set-up of their new buy to let investment.”
The current ‘inside story’
The inside information from Paul is that right now the best properties to consider in and around Darwen as an investment are the 2 and 3 bedroom properties
In terms of the location properties in well-established residential areas and within walking distance on shops and the town centre generally have best steadiest potential appeal.
Check out apartment buildings with care
If you are considering apartment, adds Paul, the presentation of the building it is located in is as much a consideration as the quality of décor fitting and finish within the actual apartment.
“A good apartment in a poor quality building will for many still be a poor quality let and it will not attract a quality tenant,” adds Paul..