One of Horsforth’s leading estate agents, we are delighted to now operate in the Sales division of the buy-to-let property market. We have always offered fully-managed property services to existing landlords but, since adding sales properties to our portfolios, we also find buy-to-let properties for customers who want to become landlords.
Buy-to-let properties are one of the most fruitful avenues of investment in Yorkshire. Buying a house to let, and particularly buy-to-let in Horsforth, is a market that is growing into an especially high-returning business. Thinking of venturing into the world of buy-to-let investment? Here are a few reasons why:
- Monthly rental prices continue to rise every month, so your return on investment will too.
- Capital growth means you will make money simply from buying a house to let and selling it on further down the line.
- Take advantage of fully-managed services to create a hands-free second stream of income.
- Instant equity means you can take home the difference between the price you buy your buy-to-let investment for and its actual market price.
Although the cost of living increases have caused many landlords to sell their buy-to-let properties, the rental market has seen average prices rise by over 10 percent in the last twelve months. Additionally, the recent increase in mortgage rates across the country has caused many people who were looking to become first-time buyers to stay in the rental market. Demand is therefore as high as ever.
Interested in purchasing a buy-to-let in Horsforth?
Already a buy-to-let landlord? There is a range of services available, including: partial and full property management services, rent and legal protection, no deposit options, and houses of multiple occupation (HMO) buy-to-let properties.
Want to invest in buy-to-let property? Not sure where to start? Worry not. Our expert teams have all the buy-to-let advice you could wish for. Here are some pointers to guide you when buying a buy-to-let property.
Choose your location
Before you start looking for a buy-to-let investment, it is very important to pick the right location. Half the trick to buying a buy-to-let property is to make sure your chosen property can attract the appropriate type of tenant, which is down to the area just as much as the property itself. Once you’ve nailed this, you can start looking at putting bids in for ideal properties.
Buying a buy-to-let property
You’ve chosen the area, now it’s time to choose your buy-to-let property investment. There are a number of factors to consider:
How many bedrooms does the property have? A property with two or more bedrooms could make a brilliant HMO (house of multiple occupation) property - meaning you could see your return on investment rise greatly.
Does the property need renovating? Lots of buy-to-let property investments only need a new lick of paint to get them ready for tenants to move in, but some need extra elbow grease before being put on the market. Take this into consideration when putting in offers on properties.
Research similar recently-sold properties in the area. You want to make sure you buy for the right price, and that’s not always easy. Researching what price other homes have gone for is a great way to get an accurate picture of what you should be paying. Want an instant ballpark figure? Search the properties you’re interested in with our free online valuation service today!
Finding the right tenants at the right price
The property is yours, now the last thing to do is get it on the market and sign your tenants’ contracts. At Stonehouse, our experienced teams use our state-of-the-art marketing strategies to advertise your buy-to-let property investment to thousands of potential tenants every day.
Offering a no-deposit option is very attractive to tenants because they will be able to save money on the initial move-in process, and will then be able to put this money to better use. We have at-length discussions to highlight all the benefits of the local area to ensure your potential tenants know all about where they’ll be moving to so it instantly feels like home, and offer 24/7 maintenance services to put their minds at ease if anything goes wrong. Interested in listing with us and using our property management services? Contact us today!
Having served the communities in Horsforth for over 30 years, we can not only find you the perfect property, but also the perfect tenants from our pool of thousands of live applicants.
Want to get started with buy-to-let investment? Browse all of our available buy-to-let properties for sale in Horsforth and the surrounding areas.