Wealth Management News
Things You Need To Know Before Buying To Let
Investing in property is a great option for many people, and as property is a valuable asset with staying power, it is hardly surprising that it is present on most investors´ portfolios.
As demand for housing keeps rising, many investors turn their attention to buy-to-let property. While such investment is typically not risky, there are certain pitfalls to consider. With this in mind, investment experts advise that each property item is researched in terms of potential returns and possible risks, before determining what you can realistically expect from your investment.
According to the Daily Telegraph, in order to make sure you see any capital growth, you should analyse market returns and predict how rent is going to change over the next few years. When making your first purchase, it is useful to have some sort of professional help from a property investment specialist, a letting agent, or a financial advisor. Professional help may also be necessary with surveys and tax, the news source pointed out.
Another important aspect you should be prepared for is the legal responsibilities that a landlord has to undertake. These range from how to let your property legally, to what amount of tax you will have to pay.
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