UK Property – Can I Build to Let?

Many an accountant, marketing manager, shop assistant or graphic designer is actually a wannabe property developer. The idea of creating a "forever home" that suits the most individual needs will always have a certain charm.

But sometimes, the drive to construct is not with the intention of personal use. There are potential investors who are looking to increase monthly incomings by building a property that can subsequently be rented out. Here, Return on Investment is key. 

UK Television programs such as "Homes under the Hammer" often see inexperienced property developers who have spotted an opportunity. In many of these cases, the sensible longterm option is to rent the property. This eliminates the need for fancy furnishings and clever finishing touches – the key to profit here is practicality and functionality. But in the real world, are these "opportunities" really advisable?

Well, Dawson & Associates have a great deal of experience on this matter – and we know that, as with all things property related, sound advice and research is a must! 

Can I make a profit with Buy to Let?
It is true that the brave independent property investor has indeed been rewarded on many an occasion. Surprisingly few people can envisage the potential that a run-down townhouse has and so, with just small aesthetic changes, a poor rental marketplace can soon provide significant wealth.

BUT... (for there is always a "BUT" when it comes to property)...
there are many, many potential pitfalls.

Of course, the intended property MUST always have undergone a detailed survey from a RICS regulated chartered surveyor. Renting a property incurs many responsibilities so you must be extremely confident that your tenants will be safe and secure.
And the area of the UK in which you are planning to invest plays a huge part in the level of profit that you are likely to make.

Rental prices vary greatly in the UK from North to South and East to West. And, as always, London is an independent economy playing to its own unique rules. It was recently reported that "big-money overseas private landlords" have monopolised the market within our capital, making things extremely difficult for institutional investors looking for Buy to Let ROI.

Property development is often an issue of timing. Those who bought, built and commenced a rental plan 10 years ago are now likely to be reaping the rewards of their investment.

For more information on how to make a sound property investment in London or other areas of the UK, contact Dawson Surveyors. Initial advice is provided free of charge. 01424 882263



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My Property Survey Detected Faults...

What do I do next?

This week's Telegraph raised an interesting question. The article, 'I'm selling my home. Do I have to tell buyers about a failed survey?', discusses the undesirable situation where one potential buyer identifies structural issues with a property. This, of course, leaves the owner with a moral quandary as the house is released back to the market for other potential buyers. But whilst sympathies can be extended, there really are only two options: fix it or own up!

Any non-disclosures of essential property information could leave you in hot legal waters as it is viewed as "unfair trading". Basically, as the seller you are under the same strict ethic code as anybody selling any other product. And so, if the product is faulty, you will be held responsible.

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/11491506/Im-selling-my-home.-Do-I-have-to-tell-buyers-about-a-failed-survey.html

So, what do you do? Of course, the first step is to get expert advice from a professional. Dawson & Associates can quickly ascertain the severity of your situation and will be happy to discuss your options with you, free of charge. With over 40 years of experience, there isn't much that we haven't seen before and problems are often not as bad as they first appear. In fact, we say that "there are no problems, only solutions".

After a quick chat we can visit your property and we'll either provide a detailed report of what is required or, if you already have a copy of this from your previously interested buyer, we can put a plan-of-action into motion. Often, with some quick work and clever solutions, that original sale can be salvaged with little delay or inconvenience.

Over our years in the business, we have secured one of the best task forces in the UK. Therefore, not only can we provide the immediate survey requirements but also the construction team to fix or improve the property within budget. We will also be able to advise you if there is potential to make small changes that will increase the value of your home.

We can provide thorough and accurate Building Surveys, Party Wall Awards, Property Design, Construction Management & Legal Services for your property in the UK. Be assured that a team of professionals are providing the best possible results from your UK property investment/ portfolio.

For more information, visit www.dawsonsurveyors.com