With the credit crunch affecting the economy worldwide it’s hard to think that people are still buying houses. Sure the prices are low, but it seems such a crazy time to be doing it unless you have the funds to buy home outright, or secure the expensive mortgages available. However it is exactly that point that has made buying to let such a lucrative prospect at the moment.
How? Well as people cannot afford to buy, then the only option is to rent – thus those who can buy can pick up a bargain and make a tidy sum letting homes. The thing is to not out-price yourself and make sure you can attract tenants and keep them happy; after all an empty house no one will rent from you is just a bottomless money pit.
So how do you achieve this?
Well first impressions count and thus make sure the place looks good, that means good décor and in a good condition. But more importantly take into account that the credit crunch is in effect. What does this mean? It means people are looking to save money where they can, and that means not having to furnish a house they are renting. The piece of mind knowing that you can just move in and the rest is pretty much done is a big comforting factor to many people.
Of course furnishing a house is quite a daunting thought, especially when you know it’s not you that will be living there, but you can take comfort in the fact that most people will be willing to pay more for a house they can simple move into with all the work done. It also means when old tenants leave and new ones arrive it is a much less drawn out scenario with no beds, sofas and other large items of furniture to be remove (this also saves on accidental damage during a removal).
The good thing is that buy to let is such a big business these days that there are many places that specialise in buy to let furniture, or furniture packs.
The premise of furniture packs (or furniture packages as they are often known) it to provide a complete solution to a room in a home, or to provide the basics for a few rooms (these are often known as starter packs.
A few examples could be a full bedroom furniture set comprising of bed, wardrobe, bedside tables and a chest of drawers, or something along the lines of just a few bedroom furniture pieces, allowing the bed to be provided by the tenant.
Dining furniture would normally include a table and chair set, though some also have sideboards.
Starter packs are normally a more budget version of room specific sets (such as dining furniture or bedroom furniture) or a combination such as a dining table and chairs, a bed and maybe a sofa.
Most furniture packs come in a variety of styles and materials to help you make your home more appealing to prospective tenants. The cost is normally a considerable saving than buying the items separately, and of course they are all delivered at the same time, and from the same place, making life easier if you have any problems or need replacement or extra items.
So furniture packs can be a great money saver and money maker in for those looking for a buy to let investment.
Thursday, 16 April 2009
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