UK real estate developer Barratt has released a property investment for dummies guide after completing its latest development. In the latest effort by a developer to ensure stock shifts amid wobbling UK prices, the company put together five top tips.
Saying property investment was still a sound long-term strategy, bosses said only 11 units are left at its West Midlands Woodlands View development.
Barratt sales director David Child said:
“Compared with other forms of investment, property remains to be a sound long-term investment solution and it is no surprise that people are increasingly turning to bricks and mortar as a way to secure a good future for them and their children.”
The firm says researching the market should be the main starting point. Local newspapers, the local council, employers and estate agents should all be contacted, Barratt says.
Potential property investors should then decide who their target market is, and consider location factors. Good places to look are properties close to town centres, local amenities, good schools, transport networks, universities and large employers where there is always likely to be a good supply of potential tenants.
Before securing a deal, buyers should get a second opinion and take an impartial look at the strengths and weakness of the property investment, the firm says.
Founded in 1958, Barratt has sold around 300,000 homes around the UK throughout its history to date.
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As a former purchaser of a Barratts Home I could suggest a sixth investment tip – don’t buy a Barratts Home as an investment!
(Or perhaps more usefully look at build quality, factor in the cost of service charge, level of maintenance required on properties, visit other sites, speak to former residents, look at recent Barratt properties and compare current sales price to purchase price etc etc).