Below market value property is a valued commodity within in the UK property market and buying houses in the West Country is also becoming more popular. Whether you fancy a cottage in Cornwall with a quay to launch a row boat from or an interesting manor house with acres of garden complete with a pantry and an arga; the magical lure of the West Country seems to have strengthened its grip on property hunters and there has arguably never been a better time to buy.
BMV property is all about making wise purchases on properties that will yield you a large return but as we all know, finding such properties is another story. The same applies to finding your ideal property in Cornwall, Devon or Somerset as there are more people hunting for a life close to the beckoning calls of the surf and fish and chip supper than there are available.
The areas in the West Country that have welcomed a recent increase in property sales are the following:
1. Penwith, Cornwall: 208%
2. Carrick, Cornwall: 190%
3. Restormel, Cornwall: 181%
4. Exeter, Devon: 170%
5. North Cornwall: 170%
6. Kerrier, Cornwall: 169%
7. East Devon: 168%
8. Caradon, Cornwall: 164%
9. South Hams, Devon: 163%
10. Plymouth, Devon: 162%
If you are searching for the seemingly illusive below market value house or want to up sticks and move to where you can see the moors from your bedroom window then you may wish to use 2010 to find it. Just as with a legitimate bmv property, purchasing in the West Country will always pay off as people never grow tired of cottages by the sea or Edwardian manor houses on the moors.
If you are a below market value property investor you are probably financially aware had an interest in property before you started to invest and sourced and bought your first home as soon as you could, probably in the 80’s or 90’s, when property was still affordable for first time buyers.
But what of the new generation of potential bmv property investors, will they even be in a position to buy in their 20’s and 30’s? I was thinking if you are in your late 30’s or 40’s nowadays and don’t own your own home you would no doubt be looked down upon by your peers, indeed it is unusual to find someone considered to be middle classed not to own their own property. We are considered a nation of owner occupiers after all.
If you own a property and have a reasonable sum to invest as well as a clean credit history you can pick up a below market value property for as little as £5,000 down, provided you are a homeowner. This brings me onto the 20 something’s of today, I am hearing more so than ever of children living at home and depending on parents for longer. Not only this grad jobs are harder to come by and credit availability is at an all time low. It’s becoming the norm for the young to put off investing in property and buying their first home.
However, with the next general election fast approaching we could be in for another property price dip as the new government attempts to rectify our dire economic situation. This means some very good bmv property deals could be available and property in general could become more affordable to first time buyers, assuming they can get a mortgage.
I’m sure many of you out there are wondering whether you should invest in property this year. Below market value property is very popular at the moment because there are solid investments available if you have the cash. Property prices are creeping up ever so slightly. You will no doubt have seen that mortgage approvals and property sales are up compared to January 2009 as well. Are we back to summer 2007 levels, well no, but is that necessarily a bad thing?
The best time to invest is when prices are at there lowest, this way you ensure that you are buying at the right time and can maximise your potential for a good return. If we were back to the highest levels why would that make it a better investment decision? Lots of demand and large rises in property values provide people with confidence. And with this confidence comes a gold rush, which means everyone is jumping on the band wagon creating a bubble. This leads to a sellers market and too much competition, and this is when everyone feels comfortable in investing?
I say buy when the market is down, you have less competition, which means more time to make a good decision. You also have more opportunity to buy a bmv property in recessions which means even lower prices. You can often pick up below market value property 20-30% below the open market price.
Also at the moment the mortgage lenders are being very picky. You can be sure that if you manage to get approved that you are being well vetted and it is more likely that your investment is solid. The financial markets are volatile at the moment and it makes more sense to me to invest in something physical. In my opinion, bricks and mortar offer greater security than stocks and shares, at the moment. If you want to invest in bmv property get in touch with Poperty Banker today!
If you were called one day by a below market value salesman and he asked if you would like to buy a property which is 30% below the open market value, what you think? You would probably think it was some sort of scam. But the reality is below market value property is a real investment opportunity, which not many property investors actually know about.
Whether you are just getting into sourcing property as a supplemental income because your money isn’t doing anything for you in the bank, or are a seasoned vet with a large portfolio of buy-to-let properties under your belt, below market value property provides financially rewarding benefits.
For one you can obtain a great bargain, which means you reduce your exposure and hopefully don’t have to over leverage yourself. Provided you have enough cash to invest, by getting a 30% bmv property you can start to make decent rental returns straight away. Also you can potentially spread your investment over more properties and build a promising portfolio quicker.
If you decide to buy a property, I suggest you use a specialist company. Property Banker use national marketing to source the best bmv deals in the UK. We carefully screen all properties so they meet our strict criteria. Our properties are perfect property investment opportunities. We can help with every part of the sale process or you can use your own surveyors and solicitors it’s entirely up to you.
It’s 2010 and this is the year that many people are going to pick up rock bottom properties that in years to come will keep rising in price. By picking up a below market value property you get ahead of the game and make a profit sooner.
If you have been contemplating buying a below market value property for some time, below are 10 reasons why you should invest in property.
Property prices are currently lower than they were at their peak in 2007
Prices are lower at the moment. If you buy a bmv property you could get it up to 30% below the open market price. Even if the property market is stagnant over the next 12 months you have still go a great deal.
Property prices are creeping back up, which could suggest that demand is increasing and confidence is returning. Although, I do have to caveat this by saying that a full recovery is still sometime away.
If you are a cash buyer and are tired of low interest rates on your savings account, property does offer a good investment alternative. I have no doubt that property prices will surpass those seen in the summer of 2007, by investing now you put yourself in a good position to take advantage when that time comes. In the meantime you can enjoy the rental returns.
Demand for rental property is high at the moment because a lot of people are either waiting to buy or cannot obtain a mortgage. You can take advantage of this opportunity and purchase a buy to let property at below market value.
Property Banker specialise in sourcing property which is below market value. We have an extensive list of properties from all over the UK. If you would like to see our list properties, please fill in the form on our homepage.
