Buy to let properties are one of the most fruitful avenues of investment in the Greater Manchester. Buying a house to let, and particularly buy to let in Greater Manchester, is a market that is growing into an especially high-returning business. Thinking of venturing into the world of buy to let investment? Here are a few reasons why:
- Monthly rental prices continue to rise every month, so your return on investment will too.
- Capital growth means you will make money simply from buying a house to let and selling it on further down the line.
- Take advantage of our fully-managed services to create a hands-free second stream of income.
- Instant equity means you can take home the difference between the price you buy your buy to let investment for and its actual market price.
Although the cost of living increases have caused many landlords to sell their buy to let properties, the rental market has seen average prices rise by over 10 percent in the last twelve months. Additionally, the recent increase in mortgage rates across the country has caused many people who were looking to become first-time buyers to stay in the rental market. Demand is therefore as high as ever.
Interested in purchasing a buy to let in Greater Manchester?
Already a buy to let landlord? We offer a range of services, including: partial and full property management services, rent and legal protection, no deposit options, and houses of multiple occupation (HMO) buy to let properties.
Want to invest in buy-to-let property? Not sure where to start? Worry not - our expert teams have all the buy-to-let advice you could wish for. Here are some pointers to guide you when buying a buy-to-let property.
Choose your location
Before you start looking for a buy-to-let investment, is it very important to pick the right location. Half the trick to buying a buy-to-let property is to make sure your chosen property can attract the appropriate type of tenant, which is down to the area just as much as the property itself. Once you’ve nailed this, you can start looking at putting bids in for ideal properties.
Buying a buy-to-let property
You’ve chosen the area, now it’s time to choose your buy-to-let property investment. There are a number of factors to consider:
How many bedrooms does the property have? A property with two or more bedrooms could make a brilliant HMO (house of multiple occupation) property - meaning you could see your return on investment rise greatly.
Does the property need renovating? Lots of buy-to-let property investments only need a new lick of paint to get them ready for tenants to move in, but some need extra elbow grease before being put on the market. Take this into consideration when putting in offers on properties.
Research similar recently-sold properties in the area. You want to make sure you buy for the right price, and that’s not always easy. Researching what price other homes have gone for is a great way to get an accurate picture of what you should be paying. Want an instant ball-park figure? Search the properties you’re interested in with our free online valuation service today!
Finding the right tenants at the right price
The property is yours, now the last thing to do is get it on the market and sign your tenants’ contracts. At Thornley Groves, our experienced teams use our state-of-the-art marketing strategies to advertise your buy-to-let property investment to thousands of potential tenants every day.
Offering a no-deposit option is very attractive to tenants because they will be able to save money on the initial move-in process, and will then be able to put this money to better use. We have at-length discussions to highlight all the benefits about the local area to ensure your potential tenants know all about where they’ll be moving to so it instantly feels like home, and offer 24/7 maintenance services to put their minds at ease if anything goes wrong. Interested in listing with us and using our property management services? Contact us today!
We have served the communities in Greater Manchester with letting and sales services for three decades, meaning we can not only find you the perfect property, but also the perfect tenants from our pool of thousands of live applicants.
Want to get started with buy-to-let investment? You can browse all of our available buy-to-let properties for sale in Manchester and the surrounding areas right here.