Article by Surrinder Ahitan
You have probably heard the buzz words “buy-to-let” recently.
So many people are deciding to try their hand at renting property as an investment.
The problem is that most of them don’t know how to go about this the right way.
Times have changed and investors need to learn new strategies to experience success. The good news is that I’m going to let you in on an important secret.
You can use this information to turn your rental properties into a lucrative investment.
Are you curious yet?
Well, read on…
First, I’m going to discuss some of the current changes in the 2007 buy-to-let market.
I know you’re anxious to find out the secret, but I don’t want to make it too easy. Besides, it’s important to know about these changes; they play an important role in the world of buy-to-let investing.
The current high property demand has been influenced by the
High European Divorce RatesFragmentation Of FamiliesProperty ShortageIncreasing UK PopulationLess Council-owned PropertiesMobile Workforce ExpansionHuge Increase In Immigrants From EU CountriesVery Low Interest RatesMore Lenders Offering Buy-To-Let Mortgages
This has resulted in a huge increase in the price of UK property.
In fact, prices actually doubled from 1998 to 2002!
Renting property also involves many costs such as maintenance, service charges, furniture, property tax, tenant deposit schemes, property management and buy-to-let house insurance.
Every investor who chooses to play the buy-to-let game has to pay these costs.
So what is the main difference between successful investors and ones who fail?
Location! Location! Location!
I can’t emphasise this point enough. Many people purchase local property for convenience. Unfortunately, this isn’t usually the best choice.
This is where I’m going to let you in on that secret I promised you earlier…
Consider investing in Northern England and Scotland!
The reason is simple: prices in these areas are currently below the national average with yields of approximately 7-8%.
About the Author
Surrinder Ahitan offers free advice and tips on how to invest in residential and commercial property for maximum returns.
Visit his site here http://www.best-investment-property-tips.com