Property Investment Company

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S / AIb uNy tVo lEe tSp rTo p eIr Nt y foBr
sUaleY TO LET
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10 things to keep in mind before buying
property post- Brexit
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1) KEEP AN EYE OUT FOR BIG INFRASTRUCTURE
PROJECTS
Even in a weak market, areas undergoing
infrastructure investment will likely still see
steady growth both in yield and in capital
appreciation. Look at areas being transformed
along both the Night Tube and Crossrail line to
identify long-term investment prospects. For
example Forest Gate, Farringdon and Whitechapel
are areas geared up for regeneration and a rise
in property prices thanks to Crossrail. 2) LOOK
AT THE HIGH STREET AS AN INDICATOR OF AN
AREA The high street is a great indictor of the
demographic of an area, and whether the area is
in decline or has growth potential. Some of the
factors you should consider include have there
been many changes recently? Are shops closing
down with no sign of opening or are they closing
with new names moving in? Is money being spent
by the council to smarten it up?
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3) ARE THERE GOOD SCHOOLS IN THE AREA?
Another great barometer to judge prospects of an
area is the schools in the vicinity. You may not
be thinking of starting a family yet and if
youre an investor schools probably arent on
your list, but Londons population is growing
fast and good schools are becoming harder and
harder to come by. Therefore, having one in your
area is a big bonus. People both rent and buy in
these catchments to get their children into a
good school, getting you a good return on your
investment. 4) A HOUSE SHOULD BE A HOME If
buying a property to live in, remember its a
home first and foremost and an investment
second. If you plan to live in it long-term then
you should be shielded from bumps in the market.
As the market in London has shown time and time
again, its super resilient, so what may happen
in the next two years could be insignificant to
you if you are still there for 10.
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5) SHOP AROUND FOR MORTGAGE DEALS
To make a sound investment decision, you need a
broker who has access to the entire market. Some
brokers operate on a panel and hence may say they
are getting you the best deal but remember
that is only the best deal from their panel. With
lending criteria changing daily, its advisable
to shop around. That rings true even for
investors who have used the same lender or broker
for years!
6) CHOOSE A GOOD SOLICITOR This may sound obvious
but cheap solicitors will inevitably cost you
more. This is probably one of the single biggest
purchases of your life so paying for the right
advice is crucial. With a market thats changing
daily, avoiding delays with the right legal aid
could be the difference between concluding the
transaction or not.
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7) CHOOSE THE RIGHT ESTATE AGENT
In a tough market its more important than ever
to choose a local agent who knows their area
inside out, and who will get you the best result
both as a buyer or seller. An agent who just
instructs and advertises your property and waits
for the calls will struggle in tougher markets.
A proactive agent who knows their buyers can
match the right person to your home, and uses
past experience to price your house right. With a
no-sale, no-fee policy, high street agents now
have as much a vested interest in the transaction
as both the seller and buyer. Find out how much
your property is currently worth with Porticos
Instant Valuation tool. 8) CREATE A TWO-YEAR PLAN
AND A FIVE-YEAR PLAN Most investors would take a
two-year fix on mortgages but with the lending
criteria getting tighter for investors, some of
the better deals in terms of loan to value can be
found at a five-year fix. No one knows what will
happen to the property market in the next two
years, so plan for what will happen if
circumstances go out of your control. For example
if you plan to exit or re-mortgage at that
stage you also need to plan for what it will
mean if you cant do either of those.
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9) LOOK FOR WAYS TO ADD VALUE TO YOUR PROPERTY
From basic redecoration to new kitchens and even
structural work such as loft extensions, adding
value to your property will make your home a
better investment. If you see your family
growing or want a capital growth not
market-dependant then you need to look at
innovative ways to add value to your property.
10) BE CLEAR ON YOUR REQUIREMENTS We all want
a sprawling staircase in the house and a swimming
pool in the backyard, but you need to be
realistic with your actual needs. The big C
(compromise!) is a word most try and avoid but
is something we all need to make. The sooner you
are able to accept you will need to make a
compromise and understand what those compromises
are the easier your search will be.
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