5
Mar
Property investors advised to do research
Potential property investors should make sure they do thorough
research before purchasing, according to the winner of the Bradford
& Bingley Property Woman of the Year award.
Sylvana Young advised would-be investors to look into factors such
as what tenants would be attracted to certain locations, whether
there are transport links nearby and whether properties will have
furnishings and white goods included in the prices.
Buyers should not "ignore the basics of supply and demand", she
commented, as the need for different sizes of property, from
one-bedroom flats to terraced houses, may differ in various
areas.
She also recommended that landlords consider all costs involved in
a property - such as stamp duty, legal fees and contingency for
void periods - when thinking about how their investment will
grow.
Ms Young concluded that a good mortgage adviser is "imperative" for
getting the best deals that are in line with an investor's
strategy.
Research conducted by the Association of Residential Letting Agents
in January revealed that four out of ten landlords intend to expand
their portfolios in 2008.
