When moving home, you would typically sell your old home to release capital. However, sometimes this isn't always the case. Sometimes it actually makes more sense to rent out your old home to create a long-term investment. In this short video, Mike shares his advice when it comes to renting out your old home.
Below is a summary of what Mike discusses in the video:
Stamp Duty Implications: Be aware of the additional 3% Stamp Duty on the property you're buying for rental purposes. Discuss refund possibilities with your conveyancer.
Why Choose Let-to-By?: Homeowners often opt for let-to-buy investments due to lifestyle changes or financial opportunities.
Emotional Detachment: Transitioning your family home into an investment requires emotional detachment. Treat it as part of your portfolio rather than a sentimental attachment.
Bulletproofing Your Property: Ensure your property is tenant-ready by addressing maintenance issues before tenants move in. This includes rectifying small issues and ensuring a hassle-free rental experience.
Informed Decision-Making: Consider the property's potential for capital appreciation, maintenance requirements, and suitability as a long-term investment. Make informed decisions aligned with your investment goals.
If you have any questions, get in contact on the details below:
Call us on 01344 249 500 or email us at hello@avocadopropertyagents.co.uk
Or fill out this form, and we'll get in touch with you https://avocadopropertyagents.co.uk/contact-us
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