When determining what type of property to invest in, it’s essential to consider several factors. First of all, you should consider the size of your deposit. Typically, you’ll need at least 20% of the total property price to purchase the property, although some lenders will accept less.
What is the Best Type of Property to Invest in?
Secondly, you’ll need to factor in additional costs, including stamp duty. Finally, you should have some safety net if things don’t work out. You should have enough cash to cover at least six months’ rent if the property goes terrible. It is also best to invest in properties with a long-term perspective.
One of the top buy-to-let locations in the UK is Edinburgh. The city’s high standard of living and culture make it a great place to invest in uk property investment. At the same time, property prices are affordable in this area. Another great location is Newcastle. This city is the eighth most populous in the UK, and it has a growing population and a high graduate retention rate.
Another popular type of property to invest in is a shared housing option called an HMO. This investment offers specific benefits to landlords, including three times more rental yields and lower arrears. In addition, HMOs also comes with certain tax advantages. With most of the UK population continuing to rent, flexible housing options are highly desirable.