What is a buy to let property?
Buy-to-let is referring to the purchase of a property specifically to rent it out. A buy-to-let mortgage is a mortgage loan specifically designed for this purpose. Buy-to-let properties are usually residential but the term also encompasses student property investments and hotel room investments.
Why invest in buy-to-let?
There are many advantages to buying off-plan property, all of which contributes to the overall aim of capital growth and a secure investment. With a rapidly growing housing market, many investors are taking advantage of purchasing the property at a lower price before completion.
Another attraction to off-plan property is the freedom of selecting your preferred unit. If you’re happy with the location and developer, you usually have the choice of specific location, features, rooms and much more. Furniture packages are also available for those looking to quickly kit out their home hassle free.
Of course, off-plan properties are new or refurbished builds. This guarantees a contemporary build which benefits from modern features such as energy efficiency, environmentally-friendly specifications and other requirements that new builds have to apply to. This generally leads to cheaper bills for tenants and potentially higher rental prices.