So you have decided you want to enter the property investment world? Wohooooo. This is an exciting time, and we have the perfect guide for you. Numerous clients have come to us for help finding an investment property in and around Walthamstow, so we know exactly what to pay attention to. Here are some top tips from our in-house Property Expert Adnan Karim!
All about the area
Location is key when it comes to investing in property. Look into the popularity of the area. Has it recently been allocated government funding? Are new and improved transport links on their way? Are there plans for the construction of shopping precincts, supermarkets, or schools nearby? To get the best value, you should aim to invest in an up-and-coming part of town.
These are all important points when considering how much money your property might make in the future. Just look at Walthamstow. New businesses and local initiatives have made this one of London’s most popular investment areas for people across East London.
Be aware of the general property market trend
While it is important to keep an eye on specific areas, you should also monitor the general property market. As we have seen over the years, there are always peaks and troughs. If you happen to be searching for the property when there is a country-wide downswing in prices, then this could be an opportune time to make an investment. When the market rebounds, there is a good chance of making the profit.
Quick turnaround? Or in it for the long-term?
Property is a great investment, regardless of whether you are buying somewhere to renovate and sell on, or looking to rent the property out for years. It is a good idea to know exactly what you plan to do with the property. Having a clear idea in your mind can increase the chances of making money from your investment.
Be aware of the planning permission situation
“Sorry, there is no planning permission for that”.
These are eight words that no property investor EVER wants to hear; after all, one of the ways you can make money on property is by adding extensions in order to appeal more to your target market.
You can avoid any surprises by ensuring that there is planning permission for the kinds of renovations you have in mind.
Have a team in place
If you are wanting to renovate a property and then sell it on at a profit, then budget and time are the two biggest concerns. We advise that you conduct your own research and ask any contacts you might have. Working with competitively-priced and efficient construction teams can result in more profit.
The final word
Having helped numerous clients find an investment property to suit their needs, we know how rewarding it can be. By bearing in mind the tips we’ve set out in this quick guide, you can be sure that your property investment adventure will be a joyous and profitable one.
Waltham Estates are established estate agents in Walthamstow having been in the area for over 10 years. We have seen the Walthamstow property market change dramatically during this time and have helped our clients make the most of their investment. So, whether you are starting out or have a portfolio of properties we are in a prime position to assess your circumstances and create tailored advice.
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