What first time investors need to know from letting agents Edinburgh?

[Umega lettings]

Investing in property is an amazing prospect for many- with reports of a booming sales market and ever-increasing rent levels; it appears to be an easy way to earn money. However, buying an investment property can be complicated and time-consuming. With the help of the letting agents Edinburgh you can you understand the buying process and exactly what is involved in eventually letting a property.

Deposit and mortgage

Buying an investment property is different from buying a home that you are going to live in. The major difference is that you will require a larger deposit than you would buy your own home

Also, you have to make larger deposits for a specific buy to let mortgage. The rates to purchase to let mortgages are generally more than the residential mortgages.

Knowing what these costs are likely to be in advance can help you decide if your investment is viable.

Where (and what) to buy

Market research is crucial when buying investing in property, you have to be sure about the area and the property will appeal to tenants. The first step is to list the property to decide which type of tenants you would ideally like to rent to, this will help you finalize the area and property type. For instance, a city centre one or two-bedroom flat can be best for young professionals, whereas houses in the catchment area are good for the families. As a different type of tenants value looks for different features and that letting agents Edinburgh knows best.

When choosing a location for your property investment, you should consider the amenities nearby such as transport links, schools and universities, bars, restaurants and leisure options.

Who to approach for property investment advice?

If you’re looking letting agents Edinburgh that can search property for you then look no further than Umega lettings agents. We are here to help you with the right advice and assistance. We have double Scottish award winner that can assist you with for renting, leasing and other property management services to landlords, tenants; developers and investors.

What are you waiting for? Pick up your phone and give us a call. We would be happy to help you!!!