What to look for when getting a buy to let property in Royal Tunbridge Wells?
Buy to let properties are typically bought in sought after locations. Normally, this would be an area with students, areas of natural beauty or in built up cities with young professionals.
When looking around for your buy to let property try and stay away from high rise buildings with other investors as too many properties on the market at one time can mean rent prices will fall.
You need to ensure you read up on the advantages and disadvantages of becoming a landlord. It can be a lucrative investment but it can also be very stressful if you’re not fully prepared.
Our advice: do your homework before committing to this type of purchase.
If you are looking to buy property, there are various factors that you must consider before you can even think about instructing a solicitor.
Okay, so what do I need to think about before I buy property?
First and foremost – affordability. You need to get your finances in order so you can establish a realistic budget before you can start looking to buy property. We suggest searching for houses within your budget and don’t waste time looking at houses exceeding this.
The next thing that you need to consider is location – it must be practical and convenient. You must ask yourself – where do I want to buy property and why? Everyone will have their own personal reasons. Do you want to buy property to be close to family? Do you want to buy property locally? Is there a school nearby? Is it close to work? You must also consider your expectations – what are you looking for? Do you want to buy property with a big garden? How many bedrooms? Do you need a garage? As you can see, there is a lot to think about and that doesn’t even scratch the surface!
Right, I’m ready – how do I buy property?
If you have considered the above and are ready to buy property, great! The next stage is to make an offer to the seller. Go for a second viewing if necessary and don’t be scared to negotiate but don’t be unreasonable – the seller will not take you seriously and you run the risk of them rejecting your offer. If the seller accepts your offer, brilliant!
You can then instruct a firm of solicitors to guide you through the legal process. Just be sure to do your research before committing to instruct a solicitor, you don’t want the added stress of dealing with a bad solicitor on what is already a stressful process!
Does my solicitor need to be local?
Not at all. Modern day technology means that Royal Tunbridge Wells conveyancing services are often delivered electronically using email, telephone, online portals and post. This means throughout the transaction you do not need to visit your solicitor in person.
Any documents which require your signature will be sent via email and the same can be returned by post. The remaining correspondence is often dealt with via email, including correspondence between solicitors themselves.