A UK property investment is considered to be a very wise decision considering that the country is known to be one of the world’s biggest and strongest economies. With a population and tourist number that’s pretty promising, demand for real estate assets is beneficial to investors. However, not all properties are the same. Some are more valuable, others can be expensive to maintain and there are also those that have very promising potential. Then there are the opposites.
With all that said, we decided to look into the details and list down the vital factors to consider when buying a UK investment property.
- PURPOSE – There are different types of properties and each one serve a unique purpose. Make sure that the asset one buys or looks into fits the bill. It has to cater to the needs otherwise it will be a useless purchase.
- LOCATION – As we all know, location is king. It speaks a lot about the value of an asset. Regardless of its purpose, location has to be convenient primarily in terms of transportation and proximity to significant establishments.
- FEATURES – Some features to a home or an office building shall bring a huge bearing in one’s decision. Just see to it that such features fall into the category of need rather than pure want. The latter can play a role but it should not drive the decision alone.
- SPACE – There has to be ample are for movement regardless if the property is for personal, commercial or industrial use. Cramped areas are a huge no-no.
- PARKING – It becomes a huge headache when parking space is limited or worse nil. A home may only need a few but a commercial space will demand more. Absence of it can drive customers away.
- NEIGHBORS – The structures and establishments adjacent to, beside or within the area of the property is crucial. For example, buying a house in an area near a school, one’s office, a hospital and a transportation hub is divine. Also, the properties near it shall either increase or decrease its value in the long run.
- SAFETY – This is a no brainer. Always make sure that the property is safe not only in structural matters but also in terms of the location’s crime rate and security levels.
- COSTS –A UK investment property is deemed expensive too should it have high repairs and maintenance expenses, also known as ongoing costs. Make sure to look into this matter before closing in on a purchase.
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