Prosperous Properties: Making Money With Bricks and Mortar

by - 7/26/2017 11:17:00 PM

While everything in life has its risks, putting your money into bricks and mortar is always going to be a pretty good investment. The housing market can fluctuate, but in general, houses increase in price year on year, and there are excellent opportunities to make plenty of money. Here are a few things to bear in mind when you’re making a career out of a property.

Get The Right Tenants
If you’re going to be renting your property out, finding the right tenants is crucial. Nightmare tenants could end up damaging the property, refuse to pay rent and mean you end up in lengthy and expensive court battles. The right tenants, on the other hand, will pay on time every month, and may even add value to the home with things like redecorating and fixing up the gardens. If you go through an estate agent, they will ensure that potential tenants are properly vetted, and make sure that things like guarantors are in place for certain tenants. Make it clear whether you will permit smoking in the home, pets or children. Since the demand for private housing is always high, you can afford to be a little picky with your tenants in some instances. Doing so, and getting the right people in will make life easier for you and allow everything to run more smoothly.

Get The Best Price When Selling
Maybe you have been renting for a while and want to sell up, or perhaps you’re in the business of flipping houses. Either way, it’s so important that you’re getting the best price you possibly can. There are a few things that buyers will always be looking out for and spending a little extra money could mean a much greater reward. Lay down new, neutral carpets throughout and paint the walls in a light, neutral shade. Creating a blank canvas maximizes the space, and allows buyers to picture themselves in the home without any distracting colors or patterns. Making sure the property looks good from the outside will prevent you from putting people off before they’ve even walked through the door. Making sure windows are clean and gardens are tidy are examples of things that make all the difference. When it comes to selling, it could be worth chatting to an investment property advisor who will be able to help you through each stage of your portfolio. When you come to sell, they can ensure you’re getting the right price.

Find The Best Properties

If you’re going to be renting, properties in busy towns and cities do well. If you’re looking to rent to students, then aim to find something that’s within walking distance of a college or university. If you’re looking to do luxurious makeovers and sell for a profit, make sure you’re buying in an area that people purchasing luxury homes will want to live. It’s not as simple as finding a property that you like the look of, it depends on the type of project you’re going to be working on.

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