I am a 21 year old in the UK , I have enough disposable income to comfortably afford a £220 a month mortgage. 5k deposit etc. In my area houses start at 25k for a 2/3bed terrace in need of modernising, (structurally sound).Renovated the same houses they don't fetch any more than 50k. But still rent out for a minimum of 375pcm (when not modernised).
IS THIS A WORTHWHILE INVESTMENT? I understand I will not gain anything (only very little in my lifetime) from inflation however 220 mortgage vs 400 renovated rental yield seems an excellent bet. I'm seeing a financial adviser soon however I want opinions. HIT ME OH AND THERE IS BIG RENTAL DEMAND IN THE AREA AS POOR AREA SO VERY FEW CAN PUT DOWN A HEAFTY ENOUGH DEPOSIT
UK is still governed by the east India trading company which means it does not play by the rules. Just look at the past and see how it did not play fair. The whole kingdom is collapsing because of this. It is not wise investing in the UK specially as the Brexit is about to kick in. property will devalue and the debt will only get bigger. eventually collapsing and taking all investments with it. Don't invest in the UK it is not just risky it is dangerous. You will lose ur money. Beware
Had you just finished eating?
They've priced out the under 35 first time buyers as well as a lot of the younger renters that would otherwise be entering the market. Many choose to just move back home and pay off their parent's mortgage rather than pay increasing costs just to rent a rabbit hutch. At some point it just gets too ridiculous and the benefit of having your own place is outweighed by the negative impact on everything else. It just isn't worth it any more. The age that this generation have children will keep rising too. That will affect the market in the future, although it's obviously a way off yet. When the older generation (who tend to own their homes) start to die or sell up, there will be an almighty bang regardless of additional changes to rules. All the wealth/resources in the UK has been collected into only a handful of places. China also has a huge national debt bubble that will likely have some effect on the UK market and I can see the USA putting up interests rates again (and the UK would follow). It's a combination of things waiting to happen. I'm staying mostly liquid for now.
A great video - thank you. :-)
I hope you won't mind me adding... Here's 7 reasons I feel we shouldn't invest in property...
It angers me that we let foreigners buy our houses.
Hi @maneco64 great videos! Do you think its a good time to invest in buying a property? I was reading an article suggesting that places in outskirts of London like Reading have good future and growth..
The population continues to increase, especially in London so prices will not reduce. Quality and quantity of private renting accommodation will reduce. Corporate rental accommodation will increase but be far more expensive via inter-corporate price-setting. There will be minimal benefits to first-time buyers who still need good jobs/income to obtain mortgages. Tax incomes will fall as buy-to-let landlords leave the market and transactions plummet. Rents will increase to compensate for landlord's squeezed margins and they will be less incentived to spend money on properties, to the tenant's detriment. The middle-classes will be further squeezed and the gap between the rich and the poor will become even larger. We will move closer to a neo-feudal economy of extremely rich business/land/property owners and the serfs.
What he's done has sold out the UK once a again, we have British steel dying and they did nothing to stop it, and now hitting private landlords hard is not the way to go, he should really be going after the foreign investors and larger corporations.
In HK they have a Foreign investors tax of 15%, they needs to bring the same in the UK, at least in London.