When you a looking for a buy-to-let property there are 4 things to consider.
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What is your market? Whether it’s retired couples, bachelors, young professionals or university students, the type of people that you want to live in your property will make a significant difference to the type of property you should purchase as well as the area and the price you can charge.
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The area. Do you want somewhere that is close to the centre of the city, in an area with schools nearby or quiet and close to the countryside?
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The condition. To get the best rental price you need to have a property that is nicely decorated and has all the basic amenities. Although many tenants will have no problems with furnishing properties themselves, and in fact sometimes prefer it, having basic appliances like fridges, freezers and washing machines will add to the desirability.
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Budget. Most people who rent their properties will ultimately look to sell them and it’s important that there is potential for a return on your investment – so it is critical to find a balance between making your property desirable and protecting your potential profit.
For more tips and advice on refurbishing properties, take a look at our full guide on improving your home to sell it.
