Research into market ''key'' for BTL investors
Wed 26th Sep, 17:00:35 BST
Buy-to-let investors should conduct careful research into an area before they buy a property there, one expert has advised.
With a recent survey conducted by the Association of Residential Letting Agents (ARLA) claiming that more than half of all buy-to-let investors are keen add to their property portfolio in the next 12 months, it appears confidence in the sector is high.
However, Ray Boulger, a spokesperson for independent mortgage adviser John Charcol, said investors should take a cautious approach to buying.
"I wouldn''t rush in. I''d make sure I understood what the market was doing in the area I was looking to buy, so when I saw a bargain I''d recognise it," he said.
Mr Boulger also urged people to be aware that buy-to-let property did not always offer a quick return.
"From the point of view of buy-to-let investors, I would not recommend anyone enter that market with a short-term view," he advised, adding that buyers should accept it is a long-term investment.
According to ARLA, the majority of investors do see their portfolio as a long-term prospect, with the average length of time they expect to own their investment properties standing at 16.5 years.
With a recent survey conducted by the Association of Residential Letting Agents (ARLA) claiming that more than half of all buy-to-let investors are keen add to their property portfolio in the next 12 months, it appears confidence in the sector is high.
However, Ray Boulger, a spokesperson for independent mortgage adviser John Charcol, said investors should take a cautious approach to buying.
"I wouldn''t rush in. I''d make sure I understood what the market was doing in the area I was looking to buy, so when I saw a bargain I''d recognise it," he said.
Mr Boulger also urged people to be aware that buy-to-let property did not always offer a quick return.
"From the point of view of buy-to-let investors, I would not recommend anyone enter that market with a short-term view," he advised, adding that buyers should accept it is a long-term investment.
According to ARLA, the majority of investors do see their portfolio as a long-term prospect, with the average length of time they expect to own their investment properties standing at 16.5 years.
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