posted by admin on May 19
Should You Be Spending Your Money, Rather Then Paying Your Bank To Look After It!
In this terrible housing market we are having at the moment in the UK, it’s no wonder there is a rise in buy-to-let ownerships.
Basically, no-one can afford to ask for much for their property if they are having to sell, so people with ready cash - i.e. all those people whose bank accounts are now getting zilch interest in their savings are out there spending it instead.
I know several people who are taking their savings out of their banks and investing it in bigger projects for the long-term. A friend of mine has just has her dad put up around 25% of her property price so that she could buy-out her ex-partner as she couldn’t sell the thing in the current market.
Others are buying up properties in their local area, knowing that the house prices will eventually go back up - but anyway - they will be getting around £600-£1000 a month ‘interest’ (rental payments) a month rather than zero interest at all!
What Should You Do?
If you are interested in investing your money in property to let out then the 2 most important considerations are a new kitchen and bathroom. These 2 rooms are the rooms that will get you the best rent - and you want to get them done asap - and get potential clients in to view.
My friend has been doing this and found a great little company - the Kitchen Shack - to help out with the main room of the house - the kitchen. They do all styles and sizes including modern cabinets, bespoke fittings, butler sinks and right through to hard wearing ‘landlord’ styles that can take a hard life - but still look great! And all of a guaranteed high quality that will last the pressures of rented accommodation!
She ordered everything online as easy as pie and it was all delivered promptly and by courier - so nothing was lost or broken! She also saved herself an extra day of so of work by having them deliver the kitchen units already made up instead of the usual flat-pack arrangement. That way - she didn’t waste a day off work gluing everything together and trying to match up the parts.
She’s not an expert - so didn’t want to add more stress to the job by dealing with all that hassle or paying around £140 a day for someone else to either! She just wanted the units in the kitchen, all joined together - and ready to go!
She couldn’t find fault with the kitchen suppliers - which is more than could be said for the people she tried to get the bathroom furniture from!!
Rather her than me……
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