Wednesday, November 17, 2010
Find a bargain property before Christmas
With Christmas fast approaching, and sizeable government cuts looming around the corner, most landlords wouldn’t consider buying a new investment property at this time of year. However, buy a new rental property this side of Christmas, and you could save yourself thousands on asking prices.
The effects of recession are still being felt throughout the industry, and everyone is looking for a bargain. In order to facilitate a quick sale, hundreds of vendors are reducing asking prices in the run up to Christmas, so it is a great time for you to expand your rental portfolio and save money on your next buy let property. Most estate agents will have some stock that will be price reduced, so it’s worth making contact, especially if you are actively looking.
Most of the properties that take part in these sales may have been on the market for some time, or the vendor simply needs to sell quickly. In these circumstances, you could always attempt to strike a deal if you are restricted by your next buy to let mortgage, and potentially could save yourself even more money on a wise investment. With the seasonal trend for new properties to appear on the market in the early New Year, vendors and agents will be keen to clear this remaining stock.
Speak to your local estate agent who should be able to provide you with a complete list of their price reduced properties, and find your next buy to let investment at a bargain price.