If you're thinking of buying investment property in Manchester, there are a few things you need to consider before making your purchase.
From doing your research to getting a mortgage pre-approval, these tips will help you find the right investment property for your needs and make sure you get a good return on your investment.
1. Do your research
Before you start looking for investment property in Manchester, it's important to do your research and have a clear idea of what you're looking for. Consider the location, type of property and price range that you're interested in. This will help you narrow down your search and make the process of finding the right investment property much easier.
2. Work with a reputable estate agent
When you're ready to start looking for your investment property, make sure you work with reputable estate agents in Manchester who know the city well. They will be able to show you a range of properties that meet your investment criteria and can help you find the perfect investment property for your needs. The team at Bergins have years of experience in helping investors source and make a success of their investment – we currently look after property worth more than £20million for our clients!
3. Consider the future potential of the property
When you're considering Manchester’s investment properties, it's important to think about their future potential. For example, what are the plans for development in the area? Is the property located in a desirable neighbourhood? These are all factors that can affect the future value of your investment property. You might also be keen on investing close to Manchester Airport where lots of redevelopment has taken place – and in the surrounding area. That means places like Wythenshawe are worth a closer look.
4. Get a mortgage pre-approval
Before you start looking at properties for sale in Manchester, it's a good idea to get a mortgage pre-approval - if you aren't a cash buyer. This will give you an indication of how much you can borrow and will make the process of buying an investment property much easier.
5. Have realistic expectations
Investment properties can be a great investment, but it's important to have realistic expectations about the potential return on investment. Don't expect to make a fortune overnight - investment properties take time to appreciate in value. This will be the capital gain that you enjoy. However, if you are patient and choose the right property, you can make a healthy return on your investment.
Looking for investment property in Manchester
If you're looking for investment property in Manchester, make sure to contact Bergins estate agents. We can help you find the perfect property for your needs and investment criteria. Call us today on 0161 945 6937 to get started!
