Great Britain is one of the most popular countries in terms of real estate investment. Foreign investors are attracted by the simplicity of doing business, the language that is common around the world, its location in the euro zone. And despite the fact that real estate tax in England is the largest (from 5% of the value of real estate), and that the acquisition of real estate does not give the right to a residence permit, people still acquire apartments, houses, and so on.
What needs to be done to successfully invest in real estate in this country?
First of all, prepare cash. Buying on credit is widespread in England. But this is not profitable for the seller, since the term “financial preparedness” means that the transaction for the provision of a loan has not yet been signed, but only stipulated which loan can provide. Therefore, if you pay in cash when calculating real estate, then you will have a huge advantage over other customers. And perhaps you will even get a 5% discount.
Secondly, you need to find the so-called “uncompromising” housing. What does it mean? There is no such thing in the country of preservatives as typical housing. Each house and apartment are individual. But, as elsewhere, their flaws happen (too high floor, that in the park you can see only the tops of the trees; the metro passes very close; a huge corridor; there are few bedrooms and so on). To choose what will be arranged one hundred percent, you need to get around about 50 options. And choosing such “uncompromising” pieces 4, you can fight competitors for the right to buy this real estate so that your investment is profitable for both housing and a possible subsequent sale. And there will be many competitors for “uncompromising” real estate, since there are not many such apartments in England.
Thirdly, in England you can profitably buy an apartment to sell. But in this case, you must abandon the principle, the repair should be one hundred percent. As a rule, apartments for sale are bought at auctions and not in perfect condition that requires repair. But, if you invest in repairs by the standards of the CIS, you will not win anything, since the cost of building materials will cost you like the cost of the apartment itself. Do as an Englishman “the cheaper, the better”. Do not chase a cool repair, make a typical simple English wall painting and forward for sale.
Conservative England is beneficial for investing in real estate, the main thing is not to make hasty purchases, but it is better to consult with professionals.
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