Welcome to EvenFall
Providing property advice to the consumer
Most people have been in the situation at some point in their life where they need to turn someone or somewhere for advice. This is particularly so when needing to make a decision for a large financial purchase or which direction to take at a transition in your life.
Whether it be your first home or you are looking for an additional rental income, the purchase of a property is likely to be one of the most important decisions that you will need to make.
This one decision on it’s own creates many other questions that need to be answered before you take the big plunge and purchase a property. The types of questions you are likely to ask yourself are:
- Which locations should I consider?
- How will I find a mortgage?
- With so many Estate Agents, how do I choose?
Our aim is to provide answers to these questions, and many more as when it comes to purchasing a property you need to be correctly informed so you are able to make the correct decisions. A good example is Estate Agents. With so many to choose from how do you know which one to approach when looking to buy a property?
In order to choose a good Estate Agent there are number of things you need to consider. To try and provide an answer on this we asked a Bournemouth based Estate Agent to be a candidate for a short case study. We wanted to use an Estate Agent that was fairly new to the scene as this should provide us with an up-to-date view on the property market.
Are ‘Buy To Let’ Properties still a Good Investment
September 18, 2015 by John
There is always a lot of hot debate over the rental market, with calls to curb landlord powers and lower soaring rents. However at the current time, it is still a great time to invest in a buy to let property.
Currently, it is a landlord’s market. Reports have shown that Britain needs at least 250,000 new homes to be built annually to meet demand and to keep spiralling prices in check. That is unlikely to happen any time soon. In fact in the last year, less than half of the required amount of new housing was constructed, meaning only 118,760 properties actually reached completion.
That clearly falls far short of the required number, which is all good news for landlords. Lack of availability of property to purchase means that families are looking for private rentals to meet their housing needs. The housing shortage also means that landlords can demand higher rental prices, increasing their profits.
For anyone with enough money to put down as a deposit, buying a property now makes sense. Property prices are on the rise, with increases of 6% this year in the Dorset region, and this represents a good time to buy a home with a view to selling it in the future for a profit. In the meantime, renting that property to prospective tenants is a great way to make some extra cash while waiting for house prices to rise high enough to warrant a sale.
Currently, mortgage rates are low, which is making it easier to make a success of the buy to let business. However, buyers need to bear in mind that these are tipped to rise at the start of next year, and if mortgages have not yet been fixed, investments may not be worth quite as much as expected. Anyone thinking of entering the buy to let market this year would be well advised to take expert advice about the best mortgage deals for landlords in order to make sure they are investing wisely.
Luckily, Dorset has always been a great bet for buy to let purchasers. The twin attractions of countryside and coast have long made the area popular for short term holiday rentals. With larger properties proving unaffordable for many local families, finding a rental property in Bournemouth or one of the other popular Dorset towns is proving to be the only option for those who want to stay in the county.
Bournemouth is still in the top 10 hot spots for prospective landlords this year, so it’s easy to see that there is still life in the rental property market in the south west. All in all, if care is taken to make sure that prospective landlords are getting the best deal, 2015 is still a great time to invest in buy to let property in Dorset.