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Top Signs You’re Ready to Invest in Property

Investing in property, such as a buy-to-let, feels like a big step. But there are new investors diving in every year. Are you ready to be one of them?

Faye deGavre

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Oct 14, 2021

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4 min read

Top Signs You’re Ready to Invest in Property

If you’ve been tempted to invest in property and take steps to become a landlord, you may have been put off by the pandemic. However, now that things are looking up, it’s even easier to be swayed into wondering how to invest in property and whether a rental property investment is right for you. The big question is how does a budding property investor know if they’re ready to start a property portfolio? Here are a few signs that you’re ready for a buy-to-let investment property.

Signs you’re ready for a buy-to-let investment

1. You’re thinking about your financial future

If you’ve found yourself thinking about your financial future, it’s an indication that it’s time to act. Many people sit on it for years, waiting too long to get started. Look at your long-term financial goals as this will help to underpin the locations you buy in, the type of property you purchase and how you want to manage it. Whether you want to build a portfolio, generate investment while working or live off the rental income to support your lifestyle, find out what makes sense for your financial future to look brighter.

2. You’re open to taking the next step

If you’re feeling well-established and ready to take on a challenge, you may consider investing in property. A wonderful element about becoming a landlord is that you can be as involved as you want. Whether you sit back and let a Lettings Agent handle the marketing, viewings, checks, rent collection and paperwork, or you choose to take an active role in seeking out tenants, it’s all in your control.

3. You’re willing to do property research

To have a successful buy-to-let investment, you need to buy a property in an area where tenant demand is rich. The property should be easy to maintain and easy to let. Your tenants also must have their documents checked to ensure they have the Right to Rent. That means doing your research into areas and the types of properties available. If you purchase a flat or house outside of your location, you may need a Letting Agent to handle the property. To set up, a rental property investment requires a bit of research, so you must be willing to put some time aside.

4. You have your financial ducks in a row

From buy-to-let mortgages to deposits and agency fees, a buy-to-let investment isn’t as straightforward as you may hope. Smart landlords will carefully consider their investment and weigh out the financial demands, which is easier if you have your finances in order to begin. If you’re financially savvy and like to stay on top of the latest tax changes and can learn how to make your pounds work for you, then buying a rental property investment might be right for you.

Should I invest in property?

In this post-pandemic climate, landlords are becoming increasingly confident about expanding their portfolios as rents rise and mortgage rates fall, according to recent research. After a tough 18 months, there are signs that confidence is returning to the buy-to-let market.

Of course, that all depends on the landlord’s property. Thanks to hybrid working and a desire for outside space, the pandemic has shifted what the public wants from a home. A recent report surveying landlords looking to buy an investment property found that gardens, decent-sized living space and off-street parking were in high demand.

How to invest in a buy-to-let property

To hope you get started on your lucrative investment, take a look at our tips for beginners purchasing a buy-to-let property.

Let your property

Ready to rent out your property? Boomin makes it easy. Get in front of your target tenants before your listing is even live on the market to drive up demand. With Letting Agents who put you first and unique features to market your house or flat, it’s easier to fill your rental property. Book a rental valuation today.

Faye deGavre

Content Writer