You The 21st Century is a century of innovations and advancements in technology. The evolution on the Internet has made life easier and more enjoyable than at any other time in the history of mankind. The virtual industry is poised for an exponential growth because of the ever growing internet bandwidth and connectivity. The property sector is also well placed and indeed, it is reaping more from the benefits associated with advanced IT technology. For instance, you really don’t have to take a plane to the UK to find the right property to invest in. This article sheds light on ideas that can help you invest in property in the UK while you are miles away.
Doing the legwork yourself
Rightmove is an extensive real estate portal in the UK. The company’s objective is to list all properties available in the UK for buying or renting. Almost 90% of UK Estate agents are members of Rightmove and advertise their property on the company’s website. An investor can do extensive research using Rightmove from their sofa anywhere in the world. There are extensions that can be added to browsers that will give extra information such as Property Tracker. Property Tracker allows you to track price changes on the properties you are interested in.
Use Google maps
Google Street view is a great way to get clarity on what you are buying. Do you have a deal that’s too good to be true? Why? Is it the deal of the century or have the estate agent neglected to note the property is next to a funeral home or car mechanics? Google Street View gives the user a 360-degree view of the property and its surroundings.
You do the research with the help of a Virtual Assistant
Put a wish list together, such as the minimum ROI (return on investment) you need to make from a deal, whether you are happy to do any renovations, the age of the property you will consider. The list is endless, you just need to know your strategy and put the list together. Give your list to a Virtual Assistant (VA) is and let them give you a short list of properties to consider.
Another way to use a VA is for viewing properties on your behalf. Give them your checklist so you can have peace of mind your purchase meets your strategy. For extra peace of mind you can go on the viewing with them via Skype or Facetime.
Getting some professional help
There are numerous companies in the UK which you can solicit information from especially if you are considering investing in the property market.
UK house buyers have relied on companies such as Hometrack for independent and accurate information on real estate. Hometrack can help you get answers to questions you may have regarding UK properties. Such companies carry out site appraisal and report on the same to help one assess the viability of any planned property investment undertaking. They have tools they use to evaluate metrics of key aspects in the UK housing market. They look at the house prices, the demand and the supply, and avail such information at the click of a button.
Hometrack has a housing intelligence unit that gathers information about UK real property, meaning that it can be relied on when making comparisons on various properties in the UK market.
If you are an astute investor, you can access property valuation report that gives detailed UK property market analysis. Hometrack use advanced tools and automated valuation models used by over 17 top UK mortgage lenders to update investors. This means that as a rational investor, you will stay on top of the local price trends including having unlimited access to vital information from mortgage lenders. This will put you in a good position to make good investment decisions. The information will not just help you decide where to invest, but also what to develop on your property to optimise on the existing assets.
Buying Below Market Value is a strategy many use. There is a popular saying; the profit on a property is made when buying not selling.
Buying BMV can be hard from a distance; the deals are likely to be snapped up by local investors who have close relationships with estate agents. The alternative is to use a company such as RPM. They are committed to helping you get the best investment opportunities in the UK market. You don’t have to board a plane to the UK if you want to invest in BMV property. Instead, PRM property will offer you deals that might be just what you are looking for. They’ll clearly lay out the deal, including the discount value (with supporting evidence) and your ROI; they do the legwork so you can invest with peace of mind.
Using a Souring Agent
There are many estate agents in the UK who can help you seal bids on lucrative property deals without setting your foot on the UK soil. However, you should only deal with agents who are registered to buy and sell property on behalf of clients. Once you find them, allow them to deal with paperwork, monitor homes, liaise with solicitors and evaluate the property. The agents will do all the donkey work for you including shopping around and negotiating fair deals and will in return ask you to pay them a commission.
Relying on Virtual Reality
The future is nearly here. As technology advances, it is anticipated that in the next five years, buyers will easily walk through properties situated on the other part of the globe and make quick investment decisions. It means that it will be easier for buyers to buy real estate’s thousands of miles away from where they are currently based.