14th December 2007
Grimsby Telegraph – Five New Year property tips
If your New Year's resolution is to get your foot on the UK buy to let property ladder or to increase your buy to let property portfolio in 2008, it is essential that you listen to the experts.
Grant Bovey, CEO of Imagine Homes - the UK property investment specialist - reveals his top five New Years property resolutions. So keep these in mind to ensure that your first investment for 2008 is as hassle-free and successful as possible:
• Invest in London's commuter belt
Ideally located for commuters, the home counties have excellent transport links to and from London. This commuters' hotspot is perfect for buyers looking to let out a property to professionals working in the capital. Currently demand far outweighs supply which ensures this area is a top investment opportunity.
• Buy-off plan
In line with rising house prices, you could benefit from capital growth while your investment property is being built. In addition, research shows that a new build property will rent out much quicker.
• Keep it simple
Durability and simplicity is the key when it comes to furnishing investment properties. Go back-to-basics, this way tenants are able to add their own personal touches. Imagine Homes offer a simple solution for investors so they are spared the hassle of shopping, delivery, assembly and installation of their exclusive furniture.
• Look further afield
Although you are familiar with the area, your home town may not offer the best investment opportunities. Therefore you should always do your research and look at property in the surrounding areas - don't be afraid to branch out. Look for good commuting links, business parks or areas undergoing regeneration.
• Ask a specialist
To help ensure investment security, talk to a buy to let or property expert and seek professional independent financial advice for complete peace of mind.
Since 2003, Imagine Homes has been alleviating the uncertainty associated with buy to let and offering hassle-free access to property ownership.
This is how it works. Imagine Homes source quality new build opportunities in prime locations throughout the UK with long-term capital growth and rental potential. Imagine Homes will also furnish the apartment with high quality, bespoke furniture which offers a five year guarantee. They will then find a professional tenant and manage the property for the first two years. During this time the investors will receive an above average rental income at 7.5 per cent of the purchase price for each of the first two years from completion, irrespective of void periods.
For the investor, this proposition certainly looks attractive as you need not have any involvement with the property for two years after completion. At the end of the two-year rental period the investor can either; inherit the tenant, rent it out with a new tenant, move in or sell.