Buy-to-let property advice and checklist
For investors with surplus funds, buy to let property can be an attractive investment, especially with rent prices increasing due to the lack of people getting mortgages. Buy-to-Let property checklist:
- Money: Ensure you have sufficient funds to keep re-paying the mortgage even if the property is empty, also remember that lending rates change, and if they go up, your monthly repayments will follow.
- Research, research, and guess what, more research. If you are new to the business, you should be going the extra mile to know everything you possible can about the area you are investing in. That includes the neighbourhood, local town, transport links, schools, employment opportunities, crime statistics the list goes on, lucky you can find all types of neighbourhood statistics using HoodPoints.
- Risk: Buy-to-let can make you money, but it can also lose you money. Know your risks and know your limits!
- Location: Make sure you invest in the right location. Take advantage of HoodPoints, and find the best streets, roads and avenues in the area you are looking to invest in.
- Maths: Do your figures, not once, not twice, but thrice. If you have a handy family member, or friend who is good with numbers, run all your figures by them. Two heads are better than one!
- Compare: Shop around for the best mortgage deal. Do not just ask one bank! Read our useful blog post on mortgage advice.
- Remember: This property is not for you. Don’t buy a property just because you like it, you may think a bachelor pad is pretty awesome, but would a young family? Consider the type of people you are trying to “sell” this to.
- Insurance:Get renters insurance. This covers you if your tenant fails to pay rent, or damages your property.
- Negotiate: You are in a good position as you are not in a chain, buyers that are ready to move quick are the type of buyers sellers want.
- Repeat: Again, go through the pro’s and con’s to buying a property to rent out. If its empty for five months of the year, could you handle that?
- Letting your property: Find a fixed fee letting agent, do not pay more than one months rent for their services.
Ways to devalue your home
Nobody likes to lose money, especially on their home! So we decided to put together a list of the most commons ways to devalue your home. Obviously you should avoid doing any of the below.
- Original is good: Removing original features such as period fireplaces, sash windows, ceiling art. Majority of buyers will considered these are “pros” so removing them would be a big mistake.
- Plastic windows: PVC windows can be a turn off for many buyers.
- Losing a bedroom: Most buyers consider the number of bedrooms important, even if they are small.
- Neutral colours: Always use neutral colours of wallpaper and paint. When selling, your buyers might view this as an extra cost involved.
- Household/Garden clutter, try and keep your garden as clean and tidy as possible for the viewings, you do not want to give the impression they will be left with a load of your stuff, if they buy your house.
- Satellite dish: Big, visible satellite dishes, will almost certainly devalue your home.
- Family friendly: Spiral staircases can look awesome! However, they are not child friendly, if you are considering having one fitted you should bear this in mind, as it could exclude young families for purchasing your home. This is just one example, another could be a swimming pool etc.
Make sure you are taking advantage of our main website which gives you all kinds of neighbourhood statistics and crime statistics for where you live.
We found all the neighbourhood statistics for the UK
Here are all the relevant and useful neighbourhood statistics websites we found doing some Googling today.
UK National Statistics, a neighbourhood statistics publication hub for the UK, in which you can find statistics for local areas or regions.
Scottish Neighbourhood Statistics, find statistics, information and local government news for Scotland on this website.
Northern Ireland Neighbourhood Information Service or for short the NINIS, is pretty much what it says in the title. Don’t be put off by the outdated website, it does hold a lot of data.
NHS Information Centre provides population statistics for the UK. Also gives you news on what the NHS is up to.
Department for Education is a new neighbourhood statistics and research website to provide info to thousands of small neighbourhoods through-out the country. Its brand new and does offer some great information on schools, and nurseries.
Office for National Statistics provides a range of social statistics and publications. This website is good for local business information, and has a useful link directory which is very resourceful.
Department of Health provides public health records, and adult social care records.
The street reviews are flooding in, quite a mixture
Well what a mix, since launch there has been a wide variety of street reviews that have been posted, approximately 2,500, and over 60,000 streets visited. Any user generated website takes time to populate so bear with us if your neighbourhood seems a little empty. In time with help from people like you reviewing your street, we can have a ideal tool for any home owner, renter, buyer or mover!
Most people would think that not many of us would post anything bad about the street we live on, but to tell you the truth we have seen a great deal of honesty.
Tom B | Weymouth
“I have lived in this area for a long time. It is a very convenient place to live with road connections running out of Weymouth or just minutes away from the town center. It is close the police station and football stadium and parking is easy. The only cons I would say is a lack of decent local shops that open late and the lack of entertainment but the area is nice and quiet. There is lots of employment available at the near by granby industrial estate. Overall a nice place to live!” See the full review here
James A | Oulton Ave, Trafford
“Sale is a great place to live, near transport links (metro), and the town centre is 5 minutes down the road. The parking can be a bit of a pain on the road, some people do have vans”. See the full review here
Liam H | Flatsand Rd, Wilmslow
“Lovely street to live on! Only downside is there are a few footballers on this street, so expect some building work at least twice a year.” See the full review here
Don’t forget you can find all types of neighbourhood statistics using HoodPoints
Find the best places to live using neighbourhood reviews
Whilst many of us are guided by the what the street looks like on the outside, we fail to take into account factors that really matter. There is a lot you don’t know when you buy a new home, noise levels, parking access, friendliness, quality of life, broadband speed, the list goes on & on! The aim of HoodPoints is to help bridge this gap between you and your next home.
It’s our mission to give people access to all this information along with useful neighbourhood statistics. If you are using HoodPoints to find street reviews, consider leaving you own review for the street you live on and share your thoughts.
Buying a new home is big deal
Buying a new home is probably the most important decision financially that most people will make. That’s why its vital to do your research! Always make sure you are looking in the right neighbourhood for you. HoodPoints can help you search for the best neighbourhood and ultimately the perfect street for you to live on.
Search for a street, and find neighbourhood reviews!
During the creation of HoodPoints we came across home owners who previously had bad experiences when moving to a new neighbourhood, which could have been avoided if a little research had been done. Using HoodPoints you can find out all types of neighbourhood statistics such as crime statistics, friendliness, transport, quality of life and more. You can also voice your own opinion on what you really think your street is like to live on.
Property owners can find neighbourhood statistics for any street, road or avenue
Neighbourhood statistics have always been important, HoodPoints gives property owners, renters and buyers direct access to learn about what its like living on specific streets. You can easily learn about quality of life on any street you choose and find out neighbourhood statistics for any region in the UK.
Find the best streets to live on, learn about new neighbourhoods, find out what the noise levels are like, friendliness, traffic, broadband speed, parking access, and much more.
UpMyStreet acquired by second largest UK property website
Zoopla, has announced its acquisition of the neighbourhood statistics site UpMyStreet. The website was started in 1998 and according to reports was attracting around 570,000+ monthly visitors. Boasting the title of the longest standing neighbourhood information website, and providing average house prices, UpMyStreet quickly became popular with home owners and property searchers thru-out the UK.
Founder of Zoopla Alex Chesterman said the following: “Zoopla has had a commercial relationship with UpMyStreet for some time and this acquisition is a natural fit. Allowing us to further extend our audience and reach for the benefit of our members.”
The amount paid has not been released, and the Zoopla team have now re-directed all UpMyStreet’s traffic to Zoopla.
Find the best places to live using a new neighbourhood statistics website
Finding thebest places to live is not hard, the first thing to do is become a member of HoodPoints. Joining HoodPoints is free and easy, you can join our community by email, or by using your facebook or twitter account. Once joined you can give any street, road or avenue Hoodpoints, which as you probably already know is what we call a street score.
Finding the best places to live is made easy when you know what the local people think of the neighbourhood. The nicest home can be made not nice if its located in a bad neighbourhood.
Don’t forget home owners you can find all types of neighbourhood statistics
Please note, we are still in beta, which means we are new and still in the testing phase. As with any new user generated website, it takes time to populate, so please bear with us. Some regions may seems a little empty, if your street has not yet been reviewed, then take the opportunity to add the first review.
We launched Neighbourhood statistics and sharing portal
It’s been a long time in development and after a lot of hard work, we are please to announce the launch of HoodPoints, a new and excitingneighbourhood statistics website.
HoodPoints is about helping share their opinion how how good or bad their street is to live on.
Here is a quick snap shot of what you can use HoodPoints for
- Finding the best places to live
- Telling people how good or bad your street is to live on
- Finding the best streets and worst streets
- Crime reports, view and share your own crime report.
- Reporting a lost pet
A neighbourhood statistics website with a difference