It’s a well known fact that property is an interesting investment commodity that has the capacity to return an investor both an income and a capital gain and for this reason an increasing number of people are investing in multiple properties as part of an investment portfolio.
One point that many people miss when investing in a second home is that the search for real estate to be purchased should be handled in a completely different way to the process to purchase a principal residence. And it is this fundamental fact that forms the basis for this excellent title from How to Books - namely ‘Investing in a Second Home.’
When buying a second home the purchaser is generally viewing the real estate asset as an income generating or capital appreciating commodity rather than a home for themselves, and this is why the entire purchase process should and does differ. The author of ‘Investing in a Second Home’ helps the reader to identify exactly what they have in mind for their additional property assets and then explains how the search for the right piece of real estate should differ according to their investment objectives rather than their own personal property preferences.
The book is sub-divided into buying to long let and buying to short term or holiday let – the author Wendy Pascoe begins by explaining to the reader how, why and when investment property can make a good asset, how to finance an investment property purchase to protect a principal residence and if possible leverage available funds to make them go far further, and how to find exactly the right property to fulfill investment objectives.
Having discussed which property types are most appropriate depending on the investor’s chosen method of profit the author goes on to highlight to the reader how best to market an available property – whether that be as a long term residential let or a short term holiday let at home or abroad. There are appendices detailing how best one furnishes different types of buy to let second home as well and all in all the author covers every single conceivable aspect of ‘Investing in a Second Home’ for maximum profitability.
For those considering buying a student property for their son or daughter at university there is a chapter dedicated to selecting the right home and managing it profitably. The book then goes on to cover in depth the legal and financial aspects of owning a second home which includes landlord responsibilities towards tenants and the upkeep of property as well as general taxation facts to be aware of.
Finally Wendy Pascoe looks at the major financial aspects of buying investment property such as when to get in and out of the market, how to go about deriving or extracting profit, what to do if it all goes wrong and how to lay the foundations for a property empire. This is a fantastic book that is both realistic and practical and which can seriously assist anyone about to embark on their first purchase of an investment property.
To read more about the book or the author or to buy ‘Investing in a Second Home’ from Amazon click here
