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I've been thinking with all that's going on at the moment, 2019 could be THE year to buy if you've got the means/credit rating/desire to etc.
It reminds me of back in 2009-2010 when I was buying. There weren't many buyers around, and anyone that had their property on the market was keen on a deal.An experienced buyer that knows what they're buying into property-wise could fill their boots next year, as I think the months around Brexit (whenever that might be!) will see transactions nose-dive.
So is anyone waiting for that momentous occasion, or any other particular occasion to buy?
I will be buying in 2019. I have received a good offer on my only rental property and should complete before the end of the year.
As a cash buyer I anticipate a yield between 8 and 10%. That's enough for me. I could wait until 2020, maybe prices will drop and rents will increase.
If I buy now I can achieve a yield that I am satisfied with and I am confident I can achieve. If I wait, the outcome is less certain. I may be able to invest less or achieve a greater yield, but it becomes a gamble.
As long as the rental income from my investment is satisfactory, I am not particularly concerned with its capital value. It may drop, but it may not. Over time it is guaranteed to increase.
Thats my reasoning if you can make it work today dont delay.
Next year could be cheaper but if all this brexit worry turns out to be hot air then the rush back in to the market is certain in my opinion which will only have one effect on prices. If you can get a good yield today stick it on a 5 year fixed and enjoy the cashflow .
Yes, we're stashing cash in anticipation of there being some bargains around next year.
Faint heart never won fair holiday let...
Today you will need to be more bussinss like then ever before
You overheads and costs will need to be managed
Your Customers will have more rights
The key in my opinion is yield If you get the right property with the right yield you can buy at anytime
The year you buy is unimportant Your Bottom line is far more important
If you are into BTL the first thing you need to do is plan for the long term
so again the year you buy in not important
If you see prices fall in your chosen area your yields will be there so that's when you buy
Its all speculation about what's going to happen so just look at your own strategy and if it works go for it
For me personally I cant commit funds to BTL for two main reasons prices in my area to high (low Yeild) and I want to see a what happens in the next election
That's the biggest gamble we face who will be PM and what will there policy be for BTL
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
if you tell everybody that next year is the year to buy then everyone else will buy too, keep it quiet will you!
I have always maintained that now is the only time any of us have to buy.We cannot buy property in the past and we cannot buy property in the future - unless you have a Tardis or time machine.We can only buy with our current circumstances in the now. In 2019, your circumstances might have changed and you will no longer be able to purchase. That mortgage product that made your deal stack up might be withdrawn, or interest rates rise, or stamp duty increased, or stress tests are put up further meaning you have to put in more deposits ... anything could happen in the future that changes your options. I suspect there will be some stingers in the Budget on Monday.Taking intelligent and sustained action on a daily basis is the the true way to success in any endeavour.That is why now is the only time any of us have to invest. If you base your investment decisions on intense research and due diligence and get professional advice, and buy at a discount from the market rate, then you should be able to make profitable investments at any time.As the old cliche goes, don't wait to buy, buy and wait!
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
2019 may not be the year to invest in short term lets. Proposed changes to legislation may restrict this market to the point it is no longer viable or even possible.
Interesting thought Adam_, I agree that 2019 could be the year to buy. I was wondering why you think that transactions will take a nose-dive after Brexit? As there has been uncertainty for the last couple of years around Brexit, but nothing has taken a nose-dive yet.