Flats and Apartments
Flats and Apartments are usually the easiest to manage and most straight forward to buy. City Centre flats are always extremely popular with young professionals and usually rent very well.
The main downside with Flats and Apartments is on-going running costs. There are usually service charges and ground rents to pay.
Why buy Flats for Buy to Let?
More people now rent than have done for years. Additionally, more of us buy-to-let as a means of topping up pension pots.
The property market is starting to move again. Individual buyers will find they are in a much larger pond than they might have imagined. Furthermore, investment in key hot spots has increased substantially. This is due to a combination of first time buyers, downsizers and investors.
Should I Buy Leasehold?
Many people would urge caution when buying leasehold property. But providing there’s a well-written lease and the building is properly managed, there’s no reason why a leasehold flat shouldn’t provide the basis of a good home and a secure long-term investment.
The important thing is to ensure that the lease protects your own interests. No two leases are ever the same so it’s important that you seek legal advice to clarify your rights and responsibilities as the leaseholder.