When it comes to investing money, everyone on the South Coast seems to have a different opinion as to the most profitable option. Some choose to store their money away in a high-interest savings account; others like to invest in long-term bonds whilst those who fancy a bit of a risk enjoy playing the stock market.
However, one choice which is often overlooked is investing in property. In the current market, those buying additional properties in the south of the UK can certainly get a significant return on their investment either by renting it out or improving it and selling at a higher price.
This article looks at the benefits of doing both.
Home improvements
Home improvements involve some significant investment and can take some time to complete but, with the right moves, investors can make a profit of thousands in just a few months.
When it comes to finding a quality builder, electrician or plasterer, Hampshire has plenty of quality tradesmen who can do a great job. Other places boast many qualified professionals too, so those in other areas need not worry.
This investment is relatively risk-free as well. The majority of houses in a street will have similar value depending on its area per square metre. As long as extending it costs less than this value and the house are in an area with reasonable demand then making a profit is pretty much assured.
Renting
There has never been a more profitable time to have a property to let. The current economic climate means many would-be home-owners are being forced to continue renting, so demand for rental properties has sky-rocketed to new highs.
This has allowed raising rents to record highs in order to get impressive yields on each of their properties. Renting out a home might involve a bit of effort with regards to maintenance or finding tenants, but it is a great option for those who aren’t ready to improve or sell a second home.
With interest rates low at the moment, more and more people Brits on the south coast are choosing to invest in local property instead. Whether planning on improving or renting the property, there is a lot of profit to be made on a second home.