The advantages in self build, over going and buying a new estate house is cost, and knowing the quality of the build is high and you will not have problems in the future. Any newer house should require less maintenance and be far easier to keep let all the time than older properties. Build to let can also allow people to get involved who have less capital and those with the same amount of capital to get a number of builds started at the same time. Build to let is efficient is because: - You spend less on each property saving 25-60% - You can get a 95% loan/mortgage on a self build (land and construction costs) which can be remortgaged to 85% when completed as a buy to let, using the equity that is already in the property means you need no further deposit, and most likely will get a large sum back to go into the next step. - Although some do build far larger, and more highly specified houses by self build than are available conventionally, this does not need to be the case, and you can, by the same methods and means, build properties of any style, size or for any market. You can maximize the growth rate by: - clever buying, buying under the current value self build, making a 25 to 60% saving on purchase costs; - spotting properties that can be increased in value with minimal work, and cost selecting areas where prices will increase rapidly; - selecting areas where the demand will increase rents, and keep your properties full; - making things happen fast getting started as soon as possible.
About the Author:
Damien Thiery is a managing director
Sat, 02 Aug 2008 11:18:26
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