
Understand the investment process
When purchasing a buy-to-let property, you are making an investment of both time and money, so be sure you are adequately prepared and don’t enter the market believing there are no potential pitfalls. Remember that you have legal responsibilities as a landlord, as breaking those obligations could result in criminal charges.
See if you can afford it
Before you start looking for a property, do your homework so you know exactly how much you can afford. In order to make sure you comprehend and take advantage of any available tax or savings benefits, it’s also a good idea to think about getting some financial advice. Recall that upkeep of your property and ensuring that it is secure for a tenant to occupy are additional duties you will have. For instance, you will likely be responsible for the cost of replacing the sink and not your tenant.…
