Whether you’ve recently come into some money or you’ve spent years working hard and feel like the time is right, deciding to buy a second property can be bittersweet. On the one hand, it’s a scary process to go in for another mortgage, yet on the other, it’s exciting to know that you’re making a step closer to living the life of your dreams.
Regardless of the reasons why you’re contemplating a second property, the killer question is – should you…
Buy To Let?
One of the most common options for investing in property is to buy a place and let it out. Not only are you likely to get a great return, but buy-to-let properties can also be a fun project to take on. If you’re thinking of getting somewhere that needs a little love, you can easily apply tips for decorating a home for less to attract potential tenants and keep your costs down to maximise your monthly profits.
Have A Holiday Home?
Maybe you’re not that interested in the idea of an investment? If you’re more inclined to find yourself a holiday home, why not think about finding somewhere out in the country? City life can be stressful, so knowing that you can escape to the peace and quiet of the country at a moment’s notice is modern day heaven. There are also plenty of financial professionals, like Enness International, that can make the process of purchasing a property easier.
Find A Bolthole?
Perhaps you live in the country, and you still need some kind of escape? A city bolthole could be an ideal option for you. Finding yourself a little pied-à-terre isn’t for everyone, but if you like to slip away from slow country life every once in awhile, a city escape in somewhere like London, Bristol or Manchester could be exactly what you need. It could also work as a handy investment and offer a little rental return if you’re only planning to use it periodically.
Or you may have always dreamt of purchasing a place in the sun? If you’ve love to save on frequent hotel room fares and have found a place abroad that feels like home, invest! Owning a second home across the pond doesn’t have to be a pipe dream, it can be a real possibility – especially if you’re in a position to buy a second home. Find an overseas estate agent you can trust and start to discuss options. Your dream could become a reality sooner than you think.
Invest In Their Future?
When you have children, it’s hard not to want to better their lives. So, sometimes you put your money into them more than yourself. If you’re happy in your home, you might consider investing in a home suitable for your little ones when they grow up. Not only could you get a great second income from the rental value, but selling is always an option is they decide to buy their own place later on in life.