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Showing results for tags 'add value'.
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Hi, I am about to complete on my first BTL property which i have managed to purchase around BMV (around £26k under). I will be looking to refinance after 6months to release my deposit, but, my qu is: should i try and add value to the property before refinancing, or as i have bought BMV, is that enough to pull out all of my deposit money after a refinance? The property is already tenanted, and is in reasonable condition. Plus, i don't really want to disturb the tenants too much as they are reliable and have even signed for a 2yr AST. Thanks! I look forward to the replies! Lee
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Hello everyone, I'm getting closer to buying my first BTL property. I have done lots of research and read thepropertyhub blog, listened to podcasts. There is a lot of advice to buy a property with potential to add value (renovating, adding extensions), so that you can remortgage and get your deposit back. My question is, if I'm buying away from where I live and I don't have a lot of experience with refurbishing properties, is this still a good strategy? I would have to find a construction company, trust that they do the right job, won't charge me a fortune, the refurb will not take too long so I can let the property. Or should I buy a property that perhaps requires only cosmetic changes (new paint, new carpet etc) But then I would not be able to get my deposit back with remortgaging. Thank you for any advice! Ewa
