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Busting the myths around property investment – words Al Woods
There are many myths surrounding property investment, especially with uncertain times in the UK housing market.
However, many of these myths are easily busted – here are 4 property investment myths busted that prove that property investment is a viable and profitable investment strategy.
1) It’s only for rich people
This is one of the biggest myths around property investment, with many believing that it is only an option for people who have millions in the bank. But this myth is easily busted as property investment can be surprisingly affordable, you just have to be smart about it. For those with a smaller deposit or limited finances who want to get into property investment, there are a wealth of options available to you. You can apply for a buy to let mortgage, where the mortgage is given based on the rental income you will receive. You can also look for more affordable property investments, like student property or studio apartments in up and coming areas. You can even work with other people and invest in a property together. If you really want to invest in property, you don’t have to be a millionaire at all.
2) It’s loads of work
Property investment isn’t all knocking down walls with a sledgehammer and painstakingly restoring old houses, in fact, it can be relatively hands-off if you wish. Property investment specialists RW Invest offer a range of buy to let properties that are specifically designed for property investors. With the option of management services, tenants already sourced, and rental yields assured for a set period, you can invest in property without even seeing it. Of course, if you want to get your hands dirty you can, but there can be property investment strategies that require surprisingly little work.
3) It’s too late to make any money
There has been recent doom and gloom forecast for the buy to let property market with many people writing it off as an investment strategy. London’s property market has taken a real knock over current years, and this has made many people think that buy to let isn’t worth it any more. However, that simply isn’t true. The buy to let property market is still incredibly lucrative, it has just changed. Properties in places like Liverpool, Manchester and Edinburgh have gone up massively in value, rental yields of over 10% can still be found, and buy to let investors are making significant sums from their investments.
4) Property investments are very risky
As with any investment, there is always an element of risk when you invest your savings into something. However, many people believe that property investment is one of the lowest risk forms of investment. Thousands choose property investment every year as a viable and profitable investment strategy with a variety of unique benefits. Factors like assured rental yields, investing with a specialist company, and choosing a low risk type of property can allay these worries. Investing in new companies or stocks and shares also carry a significant amount of risk, and unfortunately, you aren’t earning any money from your investment until you sell your assets. With property investment, you receive a steady income source through rental yields which you can use to pay off your investment or invest in other sources.