It’s the most common question I get asked: Is this property investment worth buying?
‘I’ve offered £x for the property and will get £x pcm for the rental income, is it worth the hassle?’
(If I had £1 for every time I got asked this, I wouldn’t need to invest in property anymore!)
Right, for starters… if you ask me that, I have no idea whether you are trying to save to buy a spaceship to mars or just need at extra £98.75 per month for that grande soy latte habit you’ve got on your daily work commute.
I have no idea of the relevance to your life or your goals, so you are going to have to do that leg work (unless you are my client, in which case… I will do that all for you).
Here’s what you need to do:
Identify what you are looking to achieve, financially.
You might not be able to do it all in one property purchase to map it out. How many properties do you need and how much does each need to be bringing in?
Next –
Does the property investment that I’m looking at hit that goal?
I think you know what I’m going to say next. If it’s a yes, then it’s probably right for you. If it’s a no then leave it and move onto the next.
Still undecided? I’ve put together this infographic to help you get a bit deeper with the questioning.
Mostly Yes’s – Great, go for it.
Mostly No’s – Park it and move on.
Decision made.
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Natasha
