| As the number of people choosing to buy to rent is on the increase, we have a look at three of the most popular reasons for deciding to buy to rent.
1) A Long-term Investment - Recent studies conducted suggest that over half of all landlords are wisely choosing to view their buy to rent investment as a nest egg for the long-term future. In fact, the average landlord plans to hold onto their property for about 15 years, making money out of it as the time ticks by. This is mainly due to the fact that historically speaking property is a great investment in the long-term. As long as you can pick and chose when you decide to sell the property, buying a property to rent out is a great money-earning opportunity. Ensure that you fully research the market and the type of buy to rent mortgage you will take out and the property will rise in value and you will be able to sell it at a profit. Many people are so convinced by the significant benefits which buy to rent offers that they will free up equity in their own home for the deposit which will allow them to buy a property to be rented out. Others actually become property investors and in fact the recent surveys also suggest that the majority of landlords questioned were planning on adding new properties to their portfolios.
2) A Second Income - Many people who buy to rent are attracted to the market due to the fact that they can earn a second income with relatively little hassle. The rent charged on the buy to rent property will not only help pay off the mortgage that the investor had to take out in order to buy the property but should also entail an extra amount of monthly cash which the landlord will be free to do with as they please.
3) A Guaranteed Future Home - For many people buying a property to rent is simply a question of getting their foot on the property ladder. This is particularly the case for those in careers such as the armed forces, boarding school housemasters, clergymen etc who have accommodation provided for them but are wanting to ensure that they will have a home available to them in the future. They buy the property and rent it out in the intermittent time period and then have the opportunity to use the property as their own home at some point in the future. |
