- Hits: 476
Are you thinking of investing in a buy to let property?
You’ll find that rental yield is the metric you need to know about the property, without a strong rental yield you just won’t make a profit and in return you will struggle to secure any mortgage finance.
In basic terms rental yield is the value that the property generates from annual rent. Yields are expressed as percentages.
- Gross yield, this is the overall figure you will make, the capital gain.
- Net yield, gross yield minus any expenses the property has occurred during the past 12 months.
- Hits: 422
We’ve all seen local newspapers reporting the discovering of residential cannabis farms, it appears to be a growing problem. It’s never great to find out as a landlord your property has been use in such a way, knowing you have now a vacant property and possibly tens of thousands of pounds of damage to repair.
90% of cannabis farms are found to be from residential rental properties.
Why are they perfect to criminals?
Rental properties are ideal as criminals know they will cause damage to the property in order to set up the cannabis farm. Absent landlords is something criminals will thrive on, as the can operate undetected for long periods of time.
- Hits: 1005
You’re buying your dream home, everything is going great. It’s the perfect location, great open views and close to transport links for work. The day has arrived and its time to collect the keys to your home, you move in and all is well, maybe even too well….. But then you are hit with two words, ground rent!
When you looked over the property and you studied the lease there was no mention of your £150 annual ground rent and that it would double every 10 years. You just can’t afford to pay the doubling ground rent, so you try to sell the property.
It very well maybe the case that you can’t sell the property because of the doubling ground rent, you’re now stuck with a property you can’t sell and bills you may no longer be able to pay.
Speaking to the owner of the freehold about buying the freehold maybe the only solution. But some investors may want a considerable amount of money for the freehold, which isn’t an ideal resolution either. This is a problem for around 100,000 people in the UK named the ‘ground rent scandal’.
- Hits: 427
Now a common type of investment for individuals, there are a number of different avenues you can take when investing in property. Options available are buying a property to flip and sell quickly, buying a property to rent out or indeed investing in a commercial property.
We’d recommend that you do your research before going ahead, research efficiently, this will help plan ongoing finances long term.
Why are investors attracted to property?
Investors are drawn to the advantages investing in property brings, one of which it can provide long term financial security. If you select the right property for rental purposes it can create a sense of security because of the property’s appreciation in value over several years.
Other benefits include the steady income a rental property generates. Generally, this is the main rationale for people investing in property. Location dependent, you can receive a significant amount of profit over the cost of expenses.
When you invest in property, you become the boss of the “project” you will determine the success or failure of the investment.
What are the risks in investing property?
Investment in property does have its own risks, nothing is set in stone. Pricing and demands for buying and renting can fluctuate, something that you can’t control.
Here at Peregrine Property we recommended you find out everything about the property, advantages and disadvantages of the property are vital in any decision making. Consider the schools in the area, transport links, crimes rates and employment rates.
If you have any questions or looking for general advice when it comes to investing in property then make sure to contact us, we have a wealth of knowledge and expertise when it comes to property investment.
You can contact via our online forms or by calling our office.
- Hits: 433
Wakefield Property Market – Is it booming?
We decided to take a look at the current Wakefield property market, since we’re now midway into lock-down 2.0, just to see if the market is indeed booming or if the property market has slowed down.
Wakefield – Estate Agents!
It’s a sure bet to say that the property market in Wakefield is booming! There is still a large number of viewings taking place all over the WF postcode, in fact in some areas they have reportedly doubled year-on-year, offers being submitted on properties are being made left, right and centre, in some case's estate agents have stated some offers have considerably above the asking price.
This will of no doubt of been caused due to the initial lock-down when viewings could not take place as once could, the cut in interest rates and stamp duty holiday has also played a part in restarting the property market moving again.
After all Wakefield is a place to purchase an affordable property, offering excellent transport links up and down the country. It’s the ideal place for investors, professionals, and families.
New Build Developments
A number of new build developments have sprung up across Wakefield this year mainly in Durkar and around Holmecroft. These properties along with with properties up to the value of £400,000 have seen the sharpest rise in popularity in Wakefield, more than those of £400,000+.
Wakefield – Rental Market
Wakefield doesn’t differ from most of the UK in that demand outshines property available, so great rental prices in Wakefield can be achieved, if marketed correctly – Something here at Peregrine Property we pride ourselves in doing.
Peregrine Property – Wakefield
Whatever your reason for looking into the Wakefield property market, buyer, seller, landlord or indeed looking to rent, we’re the professional, friendly, local estate agents for you.
If you have any questions you can contact us via our online forms or by calling us direct, we’re more than happy to answer any questions you may have on the Wakefield property market.