Buying a development property
Experts in property management know which are the most profitable areas to look for your new property buy, depending on the type of let you have in mind. To explore your options realistically, it is important to start with a clear idea of what your budget is and how flexible you can be with it
Great transport links are always a plus, as it is staying away from busy and noisy traffic. But, depending on the letting market you are aiming for, an agent can point you to the areas that may have the right amenities, schools, entertainment, etc., for you to attract the clients that are willing to pay a higher rent in exchange for easy access to those services
By employing a Property Management Agency, you automatically raise yourself and your project to the level of many other hundreds of professional property hunters who are also looking for the same great opportunity in buy-to-develop properties you are wishing for.
2. Staying within budget and designing a profitable project
A property management expert is your best bet in order to stay real and balanced when making decisions about the renovation project the property will require for it to start generating income.
Timings and cost for the project need to be at the forefront of your decision making. A property agent can help you choose the right property, and design a feasible development that will be ready in time and will be sustainable over the long-term through the income it will generate
Because it is easy to be blinded by how much money the project will bring back, it is best to receive the necessary guidance to manage your budget in a realistic way while creating an attractive property-to-let that can compete with those of professional developers both because of its external assets and because of the features of its internal living spaces.
3. Financial Planning
A good Property Management Agency can help you navigate your way around Financial options and no-go areas. Making good decisions when trying to access the funding you need requires knowledge of the products in that market as well as good skills in negotiating the solution that will be most beneficial for you
It may seem a straightforward process, but property agents with their knowledge and expertise can help you strike a tailor-made funding deal that will save you many thousands in unnecessary rates imposed by bad initial financial decisions
4. Making the renovation a success
Property Management agents are in contact with all trades . It doesn’t matter what your project involves. The agency will make sure you get the best quality job done for the most reasonable amount, and in a timely way
Getting an overall planning, schedule and estimate for your renovation project is very important. Your agency can do this for you, keeping you away from those scary scenarios involving unpredictable builders we all dread getting trapped into. The support in this are can be invaluable
5. Materials, finishes, fixtures and fittings
A Property Management Agency will know the features present in the other properties that will compete with yours in your final letting price bracket. Since you are renovating to let out, it is important to get it right when making all these smaller decisions. It is as important not to save by choosing cheap but non-durable solutions, as it is not to overspend in unnecessary overstatements more suitable for other types of expensive developments
Your agent will help you make your choices so that your project is durable and up to the standards necessary for the price bracket you are aiming for, while always bearing in mind the need to secure the long-term profitability and sustainability of your investment
Please contact Pelin Martin to book your 30 minute free property consultation on