A local business man came into the office to discuss investing in buy to let property. He was thinking about buying off plan and wanted to discuss the investment.
Tenants love new build property and will pay a premium for them in the right location but a flood of new property onto the market can dampen the expected rents in the short term, although it would have to be a lot of property. Locations close to Uxbridge such as St Andrews are always going to be popular with tenants.
House developers build for a profit and charge a premium for their product, so after buying the prices may fall or hover around their sell price for a year or two and then start to rise in line with the rest of the market. However for new owners there are advantages to new build property they come with guarantees and when minor problems crop up much work can be done under warranty (such as problems with the newly installed cooker, extractor fan or the odd leak which appears as a snagging issue. However pay attention to service charges, which can dent rents.
If you want to discuss finding a great Buy To Let investment talking to a Lettings Specialist is a good place to start we, don’t sell houses but we can give you ideas on what to look for in a property investment.
