5 Mar

Property investors advised to do research

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.
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