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How to Make Money In The Current Property Market

Posted May 2, 2013 by Maria John to Real Estate 0 0
This post was written by a EasyFinance.com Community member. The views expressed below may not reflect the views of EasyFinance.com.

These days with the property market as it is, it's not easy to make money simply by buying and selling. Going up the property ladder is now a much more uncertain game and can take more time and effort than you might think. You've got to make a fairly major investment to see a decent return.

Refurbishing Houses

This can be done by taking on a property that needs major refurbishment  these are often available at auction, from repossession firms or local authorities and can yield solid profit. There are a few guidelines to bear in mind though.

Even if you're going to fully refurbish a property you still need to choose carefully  unseen problems like subsidence, nearby flood plains or historical covenants could mean selling the house once you've completed it will be very difficult. Local property experts such as architects can also advise on these matters - just search for your county online e.g. architects in Yorkshire

Image Source : www.archdaily.com

To minimize outlay ideally you should have connections in the building trade, so your materials and labour are as reasonably priced as possible. Also hopefully this will mean your building team will be trustworthy and hardworking and the project will run to timetable. Again, architects can help here - they be found by word of mouth or an internet search such as architects in Yorkshire

Don't go overboard on luxury fixtures & fittings or special architectural features if the market for your property is first time buyers on a strict budget, or the area is not a premium part of town. Plain, stylish but functional kitchens and bathrooms in neutral shades will also allow the occupiers to put their own stamp on the ddcor.

It is often the case that even more profit can be made by maximizing the efficiency of the space. If the renovations do include changing the layout of the house it is vital to employ a high quality architect who can project manage the whole process for you.

Building Houses

Or of course you could go the whole hog - invest in some land and build a house from scratch. This is not for the faint hearted and is a long term project, but is likely to yield greater returns in the long run (albeit from a larger initial investment of course).

As soon as the land is secured it's important to find a reliable experienced firm of architects in the local area. They will be familiar with the local council and environmental conditions and can give you invaluable advice that you would not get elsewhere. Architects can be found by word of mouth or an internet search such as architects in Yorkshire. After that the factors to bear in mind are similar to those related to undertaking a major property refurbishment. It is a lot of work and a major emotional as well as financial investment, but nothing compares to the satisfaction and achievement of building houses and the return can be significant and long-running.

About Maria John: Maria writes regularly on property for a range of websites and blogs. She has also renovated and built several properties herself. She recommends you click here to www.engagearchitects.co.uk research quality architects for your next project.

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