Property investment is both a high risk, but potenitallyhigh profit venture if approached correctly. It can save you a lifetime of headaches and bring you high returns. The London housing market reports a 7% growth in house prices in 2016.For 2017, expectations remainhigh, and this percentage is predicted to grow even more. If you are considering getting a piece of the property investment pie, here are the basics.

Assess your Readiness

What represents your readiness to invest in property development UK? Check to see that you show these signs of readiness:

• Income – You have extra/disposable income. It could be from a promotion, a higher paying job, or due to a sudden decrease in living expenses. This could come from inheriting a house and not having to pay rent, or moving in with your significant other. The important thing is that for whatever reason you have extra income, you have extra to invest in property development.

Financial goals – You have financial goals that investing in property could help you meet such as saving up for your children’sschool fees, early retirement goals, or more.

• You want a retirement investment – Property investment is a long term investment that could serve as your retirement plan.

You have existing equity in your mortgage – If you already own a home and have equity stored in your mortgage, you can tap into existing equity to cover the cost of purchase.

Beware of Investment Fraud

Data from the financial fraud action UK shows that financial fraud is a critical problem, showing an increase of 2% from the previous year. One person in the UK is scammed every 15 minutes. You need to take these basic precautions to protect yourself from investment fraud:

• Avoid investments that promise unusually high returns in a short time.

Do not do business with cold callers. A high percentage of these could be fraud.

• Make sure you fully understand the investment model.

Use an investment company with a good reputation both online and offline.

• Ensure your investment company regulated by a government body.

Resist high pressure investment pitches.

Choose your Property and Invest Wisely

The road to becoming a property millionaire is a long one with many pitfalls. You need to make your decisions carefully and with a lot of advice from experts. Here are a few helpful tips for choosing property to invest in:

• Research the market; find out what’s profitable and what’s not. Make sure you understand the risks as well as the benefits before you choose your property.

Bargain like your life depended on it. Always keep in mind that for any property you like, the prices can always go lower. Aim to make it go as low as possible.

Don’t expect to get rich quick, be patient and before long, your investment will start to pay back.

Investment in property comes with risks as well as the possibility of rewards.

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