There's no denying the increased interest rates and rising cost of living, or the reduced tax advantages of being a landlord (or owner as we say). So what makes now an ideal time to expand your portfolio?
In simple terms - it makes financial sense.
Cory Devayya, our newest superstar consultant at Paramount, comments:
"Over the past 18 – 24 months we’ve seen one of the largest property value rises in years, coupled with rents bouncing back with a bang. Equity has risen substantially, so even though we have experienced some higher costs to rent a home and less tax advantages, the capital growth far outweighs these expenses. Mortgage interest rates are still relatively low and rental levels have surpassed pre-pandemic levels, making rental property still a very strong overall investment.
With so many lifestyle changes these last few years, more and more still wish to invest in their home. Whether it be buyers or renters, inflation and the shift in mindset towards travel mean more people are spending time in their home. They're happy to invest accordingly to make their ideal space work for the needs of their new lifestyle."
This recent event of property value rising means a lot of people don't have an up-to-date picture of their current equity. Many people will have more opportunities available to them than they realise. Now could be the perfect time for those thinking about purchasing their first buy-to-let, or growing their portfolio to the next level.
To make the most of the current situation, it's important to have your portfolio reviewed and your options clearly presented to you. Even if you had a valuation last year, that's not going to be accurate today!
If you don't know how your property value has changed, it's time to get clarification. You might be surprised by what's possible for you and your own personal property empire!
Whether you're completely new to Paramount or one of our brilliant current owners, we want to help everyone seize this opportunity.
Call us today at 020 7644 2313 or send an email to Spencerl@paramount-properties.co.uk
And in the meantime, why not click here and check out some buy-to-let options available right now!