Buying an investment

Despite the current economic climate, property is still regarded as a highly popular long term investment. 

Increased demand for private rented accommodation and the availability of buy-to-let funding has resulted in a dramatic increase in the number of private landlords in the UK over the past few years. 

Careful consideration of a number of key issues is extremely important when investing in a buy-to-let property and can help landlords avoid expensive mistakes.

Landlords looking to purchase a buy-to-let property should consider:

What do I actually want to achieve?
Whilst this may sound obvious, landlords regularly fail to set themselves clear goals and separate business issues from personal issues. At its best, a buy-to-let property will operate along the lines of a small business and have a clear understanding of what it is trying to achieve and where it is placed in the market.

How can I achieve a strong yield, capital growth and ensure that the property will re-sell when the time comes?
These factors can often compete. Property that is likely to increase in value and re-sell fairly easily may be more expensive to buy in the first place and offer a smaller yield (return on investment) than a less expensive property with similar accommodation.

What sector of the rental market should I be aiming at?
Landlords need to understand the sector of the market that they are aiming at and the key priorities within this sector.

How much time and effort will be required on my part?
Good properties are much harder to find than poor or average properties and most properties need some form of work and preparation before they can be let. This can take considerable time and effort.

What physical factors should I be aware of?
Factors such as the location, the size of the rooms and the age of the accommodation are particularly important factors and need to be fully considered.

What about property condition?
There are endless property condition factors to consider when buying an investment property and even experts can get this wrong. The challenge is to reduce potential costs, risk and unknown factors as much as possible.

The role of 1LET:

If you are thinking about buying an investment property why not speak to us first. A large number of the properties that we currently manage were sourced by 1LET for clients in line with their requirements and budget.

Initial advice and help from 1LET with your investment property purchase is free of charge and without obligation.

 

Contact us today on 0131 476 5500

After you buy

Becoming a 1LET landlord

Becoming a 1LET landlord is very straightforward. In the initial stages, and while you are deciding whether to choose 1LET as your letting agent, it’s more than likely you’ll want to discuss your options and gather information. Your first point of contact will therefore be an ARLA qualified member of our property management team. They will chat with you to find out more about your needs as a landlord and what you hope to get out of your letting experience.

View the guide

Landlord Information

Find out about:

  • Legal Obligations
  • Taxation
  • Lettings Paperwork
  • Deposit Protection Schemes
  • Insurance
  • Property Upkeep

View landlord information

“1Let have been excellent to deal with they made moving in very stress free any small problems or queries were dealt with quickly and efficiently without us feeling as if were a nuisance. Small repair was carried out quickly and they are always easy to contact and communicate with. We feel very safe with them and wouldn't hesitate to use them in the future and to recommend them to anyone thinking of renting in Edinburgh. Overall they provided a friendly hassle free experience for us especially as this was our first experience of renting. Thank you 1Let.”

Adam & Lewis Mack - Tenant (09/10/2015), source: allAgents

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