Property sales comparables (comps) are sold prices of similar size properties in the same location. When researching property sales comparables you should focus on recent completed sales rather than on properties still for sale or the sale is pending, and ignore properties sold over 12 months ago.
The best advantage of being a cash buyer is you can often buy property for less, as it gives you the power to put in cheeky offers. Buying property for less than a chain-locked buyer means you’ll have more equity in your house, you save on buying costs, and you save huge sums on mortgage interest.
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You can only rent out a retirement flat if the lease allows you to do so, but you may need to obtain permission from the freeholder and pay a consent to let fee. But there may be restrictions on who the property can be rented to, which will include the same age restrictions set for buying the flat.
Property lease options are contracts that give you control over property, and as a general rule to generate an income from it, but could equally be control over a property for you to live in. The option contract gives you the right, but not the obligation, to buy the property in the future.
HMO Property Pros and Cons: The number one pro or advantage of an HMO property is the higher yield they provide when compared to a standard buy to let investment. Whereas the top con or disadvantage of HMO properties is the red tape and legislation you have to comply with.