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New landlords urged to avoid "costly mistakes"
New landlords urged to avoid "costly mistakes"
The UK's buy-to-let market is continuing to receive significant interest from investors, with 47 per cent of existing landlords planning to increase the size of their portfolio this year.
In addition, the market is experiencing large numbers of newcomers who have never invested in buy-to-let properties before, and Sarah Speight, editor of whathouse.co.uk, urges potential landlords to do their homework before jumping in.
The website has launched a new guide which is designed to help those who are new to buy-to-let, as Ms Speight points out that there are "a number of crucial factors to look out for to avoid costly mistakes".
"For example, we would urge people not to adopt a 'get rich quick' mind-set; buy-to-let is much more a medium to long-term strategy," she claims.
In addition, Ms Speight insists that research is "essential" when selecting an area in which to invest as it is important to be aware of local economic factors and infrastructure, such as transport, schools and healthcare provision.
"The better the amenities, the healthier the property market is likely to be," she notes.
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