What can you do to plan and protect your property investment?

It has been reported, according to the latest data from Halifax, that house prices have declined over recent months. Although the property market remains buoyant, changes to mortgage rates have created some uncertainty, particularly for new buyers.

When buying a property, what can you do to plan and protect your investment?

1. Finances – consider your budget and speak with a financial advisor early. A financial advisor can provide invaluable advice on future saving opportunities or goals, likely mortgage expenses, rental return and, overall, the financial viability of your investment.
2. Dream home – want to buy your dream home? A perfectly presented property will likely attract a higher price. A little refurbishment and decoration may suit your resources better. Try to visualise your dream and be creative.
3. Renovation – if you are planning a renovation project, consider your contingency and consult an architect early to discuss your plans. Building costs can escalate and your contingency fund should be healthy enough to buffer any unexpected costs and ensure that your investment will see a good return.
4. Survey – invest in the best quality survey possible. A property in need of structural repair can result in considerable expense and stress. You should investigate the property as much as possible to ensure that the purchase is a viable
   financial investment.
5. Location – a more discreet house in a prime location may help to futureproof your investment. Research the locality of the properties that you are viewing and choose wisely.
6. Your legal advisor – when choosing a property lawyer, it is worth selecting someone who is not only experienced but has knowledge of the local property market. A local lawyer is more likely to be aware of conservation areas, land that might be prone to flooding, new estates and other practical matters. They can advise you accordingly and protect you from future issues.

If you’re looking to buy a property, please get in touch with our specialist property experts today.

Lucy Spollin, Head of Residential Property in Bournemouth, specialising in the Bournemouth and New Forest region.
T. 01202 339 006
E. lucy.spollin@trethowans.com

Mark Daniels, Head of Residential Property in Poole, specialising in the Poole and West Dorset region.
T. 01202 339 007
E. mark.daniels@trethowans.com

www.trethowans.com