Category: property

How to get into property investment: 3 tips for buy to let beginners

How to get into property investment: 3 tips for buy to let beginners

With inflation at an all-time high, it’s never been a better time to invest your money to avoid it depreciating in value. Investing in property is a great way to ensure that your money is working for you and buying to let is always a fail-safe option.

For anyone looking to get into the buy to let property market, there are plenty of ways to do it and lots of benefits to enjoy along the way. Consider this your guide on how to get into property investment.

What is a buy to let investment?

Put simply, a buy to let allows the buyer to rent out their property instead of live in it themselves. They essentially buy a property and become the landlord of whoever moves in. It’s the only legal way to do it, as UK laws dictate that you can’t rent out your property unless you have this specific kind of mortgage.

However, before you invest your money, you need to select the right kind of buy to let mortgage. With so many available, choose carefully, consider your options and seek a professional advisor if you’re feeling unsure.

How to get into the property market

With lots of homes available to buy, there are plenty of opportunities to secure an investment and rent it out. In fact, a recent survey conducted in the UK showed that the UK needs 230,000 new rentals per year to handle the growing number of renters. Enlist the services of professionals such as Canada Water Estate Agents to aid you in your search for suitable properties.

The greatest advantage of buying to let is, of course, the regular income that it provides you. Not only that, but your tenants’ rent should also cover the cost of any renovations or repairs that need to be done.

You may also want to consider the option of renting a House of Multiple Occupancy. This way, you can receive a sum of up to three times higher than if you were to rent the whole property on one agreement. Make sure to check all the rules and regulations around an HMO as different councils have different rules, and you’ll need to obtain a licence to do it.

 What to look out for along the way

There are plenty of things to consider when investing in a buy to let. First, calculate what your capital growth is going to be, including what you need to do to add value to the property should you wish to sell it later on down the line.

When looking for a potential property, location and size is key. Depending on what your money can buy, think about the kind of renter you’d prefer. Would you favour a family over students? Maybe you’d like to appeal to young professionals or people who just need something handy in the city.

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4 tips for new home-owners

4 tips for new home-owners

Congratulations, new home-owners! You’ve finally got your dream home, and now all that’s left to do is to move in. This is a very exciting time in your life, but it can also be overwhelming and stressful as well. So many tasks will be vying for your attention, it can be easy to let things slip through the cracks. But don’t worry! Below, we’ve compiled a few things that you might not have thought were on your to-do list: we’ve thought about it, so you don’t have to.

Speak to your insurance company

Make sure your insurance policy is up to date on the day that you move in! Finding a trustworthy insurance company can make all the difference when purchasing a new house. In the flurry of all the other things you had to take care of during the move, dealing with insurance paperwork is likely not your priority.

It may be a little bit stressful, but it’s always better to be safe than sorry, and that’s what home insurance is for. Accidents always happen when you least expect them, and you don’t want to get caught off guard. Speak to your insurance company before your move in date.

Invest in good furniture

This is the freshest start you will ever get with this house, and you should start this stage of home-ownership on the right foot. Depending on your circumstances, you may need to buy furniture. Good furniture is an investment, one that’s more likely to pay off in the long run than the immediate future. Quality pieces like bedroom furniture are well worth the money, as they can last a lifetime if taken care of properly.

Check all the appliances

Before you officially move in, you should take stock of what appliances your new home will come with, and which ones you’ll need to install on your own. By making an inventory list ahead of time, you can really get on top of things so as to ease your moving experience.

You’ll want to start with the big ticket items like the fridge-freezer, stove or washer-dryer.

Don’t forget to take measurements to ensure that any appliances you buy will fit into the space that you have. Once everything is installed, check that they’re all functioning properly. You should inspect and service your appliances every once in a while to maintain their good working order.

As a new home-owner, it can be tempting to go all out with renovations in your new home, but be careful not to bite off more than you can chew!

Deep clean your home

Before you bring all your moving boxes into your new home, you should take advantage of the sparseness of the house to do a deep clean of the entire property. Not only is it hygienic, it can also be a great way to get to know every nook and cranny of the house. Whether you clean the house yourself or you decide to hire a cleaning service, it is good to spiritually cleanse the house of its previous owners and prepare the space to be inhabited by you. Vacuum, mop and polish the floors, scrub the kitchen areas, disinfect the shower, bath and toilet and deep clean the carpets and rugs (professionally, if necessary). If handing over the work to a third party is your preferable option, click here for more info. There’s nothing like the feel of moving into a sparkling new home, so roll up your sleeves and get to work.

Happy moving day!

Buying your first home is a big deal, and you should treat it like one. Now that you’re a home-owner, you’ll be in charge of handling household maintenance and all the other things that, previously, were the responsibility of your landlords. These tips are only a few of the many things that will be on your to-do list for the big day, so it’s a good idea to keep a physical checklist of things to accomplish so that you can stay organised. Remember to enjoy this experience, and don’t let the stress of the move make you forget what an exciting time this is!

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Why investing in a fixer-upper isn’t a terrible idea

Why investing in a fixer-upper isn't a terrible ideacredit

If you’re in the process of buying a new house then you may be wondering which type of home is best for you to purchase. Sure, you can buy a brand new home that you can put your own personal stamp on but it won’t have the character of an older building. If you like to feel the personality of a home then you may be better off buying a home with a bit of history.

Fixer-uppers may have crossed your mind during your house hunt. A fixer-upper is a home that hasn’t had much love in the recent past and you can get your hands on these for less money than a new house. It’s worth taking a look to see if this is something into which you can put your time, money and energy.

Affordability

One of the most appealing perks of owning a fixer-upper is that they’re usually a lot cheaper than other homes in the same neighbourhood. This is simply due to the amount of work that may need to be carried out before they become liveable again. If, for example, a new home is going to cost you £400,000, a fixer-upper in the same area could cost you half of that amount. They can be picked up at house auctions pretty regularly.

Just remember, you’ll be going in blind a lot of the time with a fixer-upper as a lot of them can’t be viewed beforehand. A fixer-upper may also be classed as a home that has been repossessed, so you could get a pretty good bargain if you look around.

Potential

A fixer-upper has so much potential to become the house you’ve always wanted. If you like the idea of a blank canvas that you can do anything to, then a fixer-upper is definitely for you. When you first look around the home you’ve just purchased you may have a brief idea of what you want particular rooms to look like. When you do a walk through, make notes of the type of layout and decoration you want and what the rooms will become.

You may want to make a note of everything that needs fixing in your new fixer-upper as well. This will give you a rough idea of the costs you’re looking at for repairs. One thing that fixer-uppers can have problems with is the drainage system. If you need to repair or replace this, then take a look at your local pump suppliers.

No other interest

Another great perk of buying a fixer-upper is that you won’t necessarily have ten or twenty other people fighting for the same property. The housing marking can be a crazy place at times and with people all wanting the same house, it can become frustrating. A high percentage of new home buyers will want a house that is ready to move into. This is due to busy lifestyles and not wanting to do much DIY before they can relax and enjoy their new place.

We hope you found this post helpful and that it gave you lots of inspiration as to why a fixer-upper isn’t the most terrible idea in the world. If you have the time to dedicate to this, then it’s definitely worth watching your new house become a home.

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How to make your house safer

How to make your house safer

Research from RoSPA has found that the home is the most common place for an accident to happen, with a cost of £45.63 billion to the British economy annually. Home is the place where we expect to be safest, so these statistics may be surprising and unsettling.

However, there are ways we can take safety into our own hands and reduce the risk of these incidents occurring. Here are a few proactive steps you can take to optimise your home for safety.

Make sure walls and doors are fire-resistant

Did you know that it’s possible to make the doors in your home less of a fire hazard by varnishing them and coating them in a special fire-resistant paint?

If you have a timber door that you want to preserve, simply varnishing it will increase its fire resistance without compromising on aesthetics.

For a solution that offers the greatest protection against fire, of course, opt for a fire door.

You can make your walls more fire-resistant too, using fire-resistant plasterboard. GTEC fireboards are a good product to look for. They’re available in different thicknesses; there’s a standard 12.5mm thickness or a 15mm tapered-edge plasterboard that works well for stud partitions, wall linings and ceilings.

Keep alarms in working condition

The official guidance is that you test your smoke detectors once a week by pressing the test button until the alarm sounds. The battery will probably need changing once a year, unless you have a ten-year alarm.

It’s recommended that you have at least one smoke detector on each level of your home, as the kitchen isn’t the only place where a fire can start.

Heat alarms are better suited to rooms that get steamy or smoky so that you won’t have to jump out of your skin just because you’ve burnt the toast. These are triggered when the room reaches a certain temperature. Ideally, these need to be tested every week.

Get a gas safety certificate

Landlords and small businesses are accustomed to acquiring gas safety certificates, but did you know that as a home-owner, you can get one, too?

It may not be compulsory for you, but getting a thorough gas safety check will help pinpoint any problems before they become more serious or even, heaven forbid, deadly.

It may not be compulsory for you, but getting a thorough gas safety check will help pinpoint any problems before they become more serious or even, heaven forbid, deadly.

It’ll also come in handy if you sell your house, as potential buyers often want to see such documentation.

Keep the floor dry

Of course, fires aren’t the only cause of home accidents. Slips & trips can result in visits to A&E that you’d rather not have had, so it’s important to maintain a clear, tidy floor which can prevent these occurrences.

Wet floors are a major factor in causing accidents like this. If you can, clean the house when people are out and take measures to dry the floor thoroughly after mopping. Don’t use an excessive amount of detergent as this can make the surface slippery.

Install a smart remote controller

Installing a Remootio 3 to your garage doors and gates can dramatically decrease accidents and improve your home safety. This smart device enables you to remotely monitor them using your smartphone for an effortless experience, with notifications providing real-time updates about whether your doors or gates are open or closed. A smart remote controller system reduces chances of manually mishandling heavy gates or doors and thus the risk of injury. Its encrypted connection keeps unauthorized entry out, providing you with peace of mind and creating a safer living environment.

By taking a few simple steps and thinking about everyone’s welfare, you can make your house safer for yourself and others around you.

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