Q. I have some money that I have decided to invest in property but am very confused as after speaking to friends about which type of property is best for investment I have had so many different opinions I no longer know what to think. Can you help?
A. When you are buying for investment it’s crucial that you get it right at the onset. Although friends are often good to speak to at the start to get the ball rolling, I would highly recommend that you speak to the professionals as their knowledge would be invaluable in helping you make an informed decision. Once you have decided on an area make an appointment to see a reputable Estate Agent in the area – a recommendation is always useful at this point. Sit down with the agent and discuss your requirements honestly as well as give him an idea of your budget and preference. He will then advise you on the type of property that will make a good investment, with a good rental return, ask to speak to a lettings negotiator in the office too and ask him what type of property is in most demand right now; this will help you to make an informed decision. Overall good rental property needs to be in close proximity to transport connections, be in good condition throughout with good quality furniture that lends itself to the style of the property, in general the nicer a property is presented the easier it is to rent as long as the location is right. Ground floors are best avoided for investment. Of course if your budget can stretch to it properties that offer water views and facilities such as 24 hour concierge and leisure facilities are always in huge demand.