The key to a successful property purchase!
Updated: Apr 30
Well, so far we’ve had a great Summer haven’t we and far be it from me to put a dampener on the weather but Autumn is approaching and in my earlier newsletters I have said that Autumn is the time when enthusiasm for buying houses generally increases as people return from their Summer holidays and get back to their usual routines. Though you might have made a property purchase before, this is still likely to be the biggest financial commitment that you make in your lifetime, so it is wise to obtain some financial and legal advice before embarking on that purchase. Likewise, if you’re thinking of renting a property, you might want to think about the commitment that you are going to make when signing a tenancy agreement, always consider affordability and know your rights as a tenant.
Whether you are looking to purchase a property to live in or to let you need to make sure that you receive the correct financial advice and the financial advice you receive needs to be at the right time in the purchasing or letting process.
It might be useful if you sought financial advice before even considering a property purchase or agreeing to your first tenancy so that you understand what your options are. I would always recommend that you choose a Financial Advisor, Accountant or Mortgage Advisor, to help you to understand the process of property purchasing or renting and there are many professionals in your local area who have the relevant experience and qualifications and they are just waiting to advise and assist you. These professionals can help you to navigate your way around some of the complexities of property purchase that you’ve probably heard of but aren’t familiar with. When you have taken the right financial advice you will then be armed with the correct information regarding affordability, and any legal obligations that you might have before you start committing yourself to that dream home or major investment. When you are purchasing a property as a Buy To Let becoming a landlord does carry several legal obligations that you need to aware of. It would certainly be worthwhile discussing your obligations as a landlord with a local letting agent , they can guide you through the process, give you an informed opinion of the local market place, advise you on the rent that you’re likely to receive for your property and even manage the advertising and letting of that property for you.
When seeking any type of financial or legal advice ALWAYS make sure that you
organisation. You could ask friends and colleagues for their recommendations; check websites for reviews and feedback and use your own judgement on whether the person that you’re taking advice from knows what your requirements are, and offers sound advice.