Here are some things to consider when looking to invest in a post-Brexit property market.
Improvements in Infrastructure
Those areas where many changes are underway to the infrastructure are areas to keep an eye on. This is because properties in these areas will experience good capital growth and rental yields. Good rail links between big cities and the suburbs will appeal to young professionals.
The High Street
Is the high street in decline in the areas you are considering or are they flourishing? Closed shops indicates that an area is struggling whereas new shops and money spent on big changes by the local council could indicate that the area offers great potential.
If there is a school located near to the property you are looking to invest in then you could be on to a winner. The population in many big cities is on the increase, good schools are rare, and so, people look to rent or purchase in these areas so their children can attend good schools. This will result in a great return on investment.
A long-term home
If you have plans to live in the property then you need to think about it long-term. It is a home and if you are also classing it as an investment then any problems in the market in the short term should cause you no problems if you plan to live there for some time.
Compare mortgage deals
When it comes to investment, you need to have access to the very best deals. Brokers may offer you their best deals but that does not mean it is the best deal out there and that means you should shop around. Criteria changes on a daily basis so look around.
A reliable solicitor
You will need a good solicitor and it is important that you have one that you can trust. Paying for advice that you can use is important and so, a cheap solicitor will cost you more and they could be difference between completing on a purchase or not.
Estate agents have a role to play
The estate agent you choose should know the market like the back of their hand. This will enable them to get you results when you purchase and when you sell. You need your agent to be out there, looking for buyers who are genuinely interested in your property and you need them to have experience.
Have a plan
Some investors lock themselves into a mortgage for two years but as things become more difficult it is worth locking in for five years, as there are some excellent deals out there. The property market can change quickly and planning ahead will enable you to handle any downturns in the market.
Enhance the value of your property
Spending time and money on your property can enhance its value. This can range from a lick of paint to an extension. If you can add value it will make it a more worthwhile investment. Seek ways in which you can add value to your property.
Understand what you need
We all want that big home with impressive features but unfortunately that is not the reality for many of us. You need to compromise because once you do make compromises you will know exactly what it is that you are looking for.