How to Buy Cheap Property: Top Tops for Investors

WAKEFIELD, ENGLAND, November 24, 2012 (Press-News.org) As interest rates are currently low and the stock market is rather volatile, now could be the perfect time for you to buy cheap houses. Yorkshire based investment property service provider, Yorkshire Property Deals, has the following advice for investors:

1. Do Your Research
If you are looking for the cheapest house Yorkshire has to offer, you need to really do your research. There are many risks as well as benefits, so it is important to really understand both the market, and the structural perils that can befall many properties that have been vacant or not well maintained.

2. Check the Rates
If you are looking to buy cheap houses, Yorkshire property can be a great investment. But do make sure it's the right investment for you. In previous years, the highest interest rates on long-term savings accounts have beaten the property market for returns. Now mortgage rates are lower so property can give better returns, but you would need to consider that if you choose buy-to-let, your investment is then tied up in the property and susceptible to property market pricing fluctuations.

3. Location, Location, Location
Choosing the right location for your investment property is extremely important. Whether you opt for buy-to-let or a refurbishment and resale, it is important to go for somewhere that people want to live, whatever the price bracket. The area you choose may differ depending on whether you want to sell or rent it out. Look at things like commute times, transport links, locations of good schools or universities. The best houses to buy aren't always the cheapest houses, Yorkshire Property Deals advises.

4. Number Crunching
Before embarking on any investment, make sure you do the maths. If you are doing the property up to sell on, make sure you've accounted for all renovations and selling fees in your sums. If you opt for buy-to-let, your deposit will need to be higher, and you'll need to accommodate future potential rates rises. Also add in the costs of management and redecoration, and allow for periods where the property may be empty.

If you are short on time and don't have the background knowledge but still want to buy cheap houses, Yorkshire Property Deals can help. Visit the website for more information about the service on offer: YPD website.

Contact:

For more information on below market value properties and how to invest, please contact Kala Rajeswaran at Yorkshire Property Deals on Wakefield: (01924) 377 776 or Leeds: (0113) 350 4426 or visit the website at: www.yorkshirepropertydeals.com