When searching for buy-to-let property for sale, it’s important to look for a house or apartment that will yield the best possible profit – both from rental income and capital growth. Experienced UK property investors know exactly what key aspects a house needs to be a buy-to-let success – and purchase accordingly.
If you’re new to UK property investment, and you’re looking for guidance about what sort of house to buy, here are some tips to help you.
The Best Buy-to-Let Properties – What to Look for
- Local schools. If you’re targeting families, you need to be aware of the local schools in the area; and in particular, which ones are most desirable. Check the most recent Ofsted results, as this will give you a clue about which schools are performing well (the ones with an ‘Outstanding’ grading tend to be the popular ones!).
- Transport links. This is particularly vital if you’re thinking of investing in a city or commuter belt. Busy city workers prize houses that are conveniently close to train stations or bus stops – but make sure to check commuting times before you start looking. Stations that offer short commutes are naturally the most popular.
- Avoid ‘problem’ properties. Properties requiring renovation can be a great option- particularly if they’re on the market at a great price (house auctions are the place to look). However, it’s important to know your limits. If a property requires too much hard work, or simply doesn’t offer the profit potential, then it’s not worth taking on.
- Watch out for hidden issues. Sometimes, the problems aren’t always so easy to spot. For example, a fresh coat of paint can easily hide a damp patch, and leaking pipes are often concealed under sinks and baths. As a property investor, it’s important to know what to look for – as you view the house, check the flush on the toilet (which gives an idea about the water pressure), touch the walls to feel for dampness, and check in the cupboards under the sink.
- Spot profit-making potential. One of the most effective ways to make profit is to convert the attic, garage, or even build an extension out the back. When you’re being shown around the house, ask to see these areas, to see if there’s any potential there.
- Search for upcoming areas. ‘Trendy’ streets and village idylls are always popular with renters, but they come at a cost. If you want to maximise your profit, search for an area that’s on the up. There are various tell-tale signs that a location is about to improve – for example, if new restaurants and bars are opening close by, or if a significant regeneration project is underway.
The Buy2Let Shop
If you’re looking for the perfect buy-to-let property for sale, but you’re not sure where to start looking, talk to The Buy2Let shop team. Our specialist property investment agents are here to help with all aspects of your UK property investment, from finding the right house or apartment, to buying a house at auction.
For more information about our services, simply visit The Buy2Let Shop website today.