Ideal Properties want to make sure you make the right investment, so we have put together an investment guide just for you!
If you are new to buy-to-let then it’s always advisable that you do your research about the current state of the local market. You should know the risks as well as the benefits. Make sure you are committed and that buy-to-let and is definitely the kind of investment you want.
Before you think about looking around properties, work out the amount of rent you are likely to get for the houses you are looking at. Buy-to-let lenders typically want rent to cover 125% of the mortgage repayments.
Location, location, location. A promising area is a place people want to live. An area like this should have good transport, low crime rates and be within range of several good schools and shopping areas. The best advice is to first find your price and then find a location that is desirable enough for people to be interested in renting from you.
Think about whether you would like to live in your investment property. Put yourself in the shoes of your target tenant; consider who they are and what they will be using the property for. For example, if your target demographic is students the property would probably benefit from being easy to clean and comfortable but not luxurious; if they are young professionals it should be modern and stylish but not overbearing.
We are one of the most successful Estate Agencies in Newcastle upon Tyne, working in areas such as Heaton, High Heaton, Sandyford, Benwell, Jesmond and Elswick.