Kings & Co Lettings have made a focused comittment to support new investors considering the residential property market. Offering a focus on simple, jargon free and transparent explanation of the dos and don’ts in letting your first property.
For those considering investing in the Norwich property market for the first time, there are often more variables then anticipated to consider than on first assumption and the order of events and fact finding can often be vital to making the process succesful.
The decision to invest money into property in the first place is one which should be thought about carefully and professional advice is freely available for all aspects from financial planning through to mortgage advice. (Kings & Co does not provide financial advice).
However running alongside that decision making process should also be an element of fact finding outside of the process of loan approval and property searching….
Many would be surprised to hear that often a new would-be landlord arranges a mortgage, incurrs fiscal comittment and in some cases even buys a property without having calculated or saught out whether the rental return from the property / properties will cover the costs. Achievable rental can vary greatly based upon type of property and the area it’s in, often a degree of supply and demand can influence.
Often new landlords don’t appreciate the full costs involved in renting a property out. Some costs are directly associated with the property such as maintenance and ground rent fees on leasehold or apartments. Other costs are related to the legislation required to let a property legally, such as insurances, deposit protection schemes and safety certifications.
In order to fully understand a potential return in a property investment it’s vital to understand market rental return and the full suite of costs upfront before making any purchase. Usually property investment is a long term comittment so the right due diligence needs to be in place beforehand.
In order to fully understand a potential return in a property investment it’s vital to understand market rental return and the full suite of costs upfront before making any purchase. Usually property investment is a long term comittment so the right due diligence needs to be in place beforehand.
Kings & Co specialises in making life simple for new property investors in Norwich and helping them make profitable decisions whilst covering all the necessary aspects of residential letting in Norwich.
