Buy to let property is still a popular long term investment. Property can often appear simpler to understand than stocks and shares. We share 10 tips to help you on your way to your first buy to let property.
1. Research the market
Ensuring you are familiar with the pitfalls as well as the benefits is essential. Speak to people you may know who are already experienced buy-to-letters, and read guides on the subject such as our beginners guide to property investment.
Ensuring you are familiar with the pitfalls as well as the benefits is essential. Speak to people you may know who are already experienced buy-to-letters, and read guides on the subject such as our beginners guide to property investment.
2. Choose a location
Choosing a property for buy to let is all about the location. Tenants, unlike buyers can move out at a months notice and will not hang around for a property that does not service their needs. Depending on your target market you will need to consider the proximity to local schools, transport links, night life and so on.
Choosing a property for buy to let is all about the location. Tenants, unlike buyers can move out at a months notice and will not hang around for a property that does not service their needs. Depending on your target market you will need to consider the proximity to local schools, transport links, night life and so on.
Research what competition you will face by using sites such as Prime Location or Right Move. You will be able to see what the going rent is for certain areas and, over time, see which properties take longer to rent out and which areas are popular.