Getting Your Money’s Worth: Advice For Investing In The Property Market
Are you an investor entering the property market?
Investing in property is exciting and very much still a popular and frequently rewarding type of financial investment. It can be a great source of predictable income, especially if you are self-employed or retired.
When the pandemic hit and Brexit was coming into effect, it left people and estate agents wondering how the property market was going to react. Looking back now, we can say that it was incredibly positive and the property market thrived and continues to do so.
Value of property has consistently increased over the years in many areas of the UK making it an attractive investment option. Whether you are entering the market for the first time or adding to your portfolio in Worcestershire, it’s a welcomed move.
What to consider when investing
Knowing your financial situation is the best place to start and will determine what you can achieve and how the purchase will be funded. You’ll need to consider all expenses including if the property you invest in requires any work.
You will also need to have an understanding of expected rental income and returns on your investment – a good letting agent should be able to advise you.
- Local area
Where you choose to invest in Worcestershire will impact the type of property you invest in. If you decide to be near a school do you intend to invest in a family home or if the area is quieter is it intended to be for retirees?
- Your time
Letting a property requires management, are you looking to deal with the day-to-day activities yourself or is time a restricted resource for you? Collecting rent is one task and dealing with unexpected maintenance issues is another. Are you able to dedicate that time or would you prefer to appoint an accredited letting agent to manage your property investment?
Making sure you are compliant and ensuring all your legalities are in order is a big part of investing and becoming a landlord. Not only at the purchasing stage but it is a continuous process while letting a property.
Hopefully, the above points give you something to think about when investing and will eventually help you make an informed decision.
Looking to get started?
Nicol & Co have an experienced and dedicated lettings team who can help you find the right investment in Worcestershire. We have the experience and knowledge to be able to advise you on current property rental yields and expected returns on your investment.
From talking you through suitable types of properties by finding out and learning where you want your investment to take you to taking you through the process, we’ll be there every step of the way.
We’re proud to say we’ve helped many investors with purchasing properties as well as look after their investment whether it is just the one or a whole portfolio of investment properties.
Our team are always on the ball with property market trends and on the lookout for new opportunities and ways to make the most of your investment. Our experience allows us to problem solve efficiently and professionally.
If you’re looking to invest in Worcestershire and want to learn more about how Nicol & Co can help, we‘re more than happy to have a chat and answer any questions you have.
We have three branches, in Droitwich Spa, Worcester and Malvern, drop into one of them or if you’d like to call or send a message – please get in touch here.