House Buying

Boureoisie

I want to buy some Land or a Home and Lease or Rent it for some money, how much would you recommend I should start with price range?

I do not earn that much, but have money to invest.

Thanks.

arbrighton

Unless we know what you have to invest, how on earth could we tell you a price range ?
You need to be clear in your mind whether you want to buy a property to have a property or with a view to renting it out as landlords have a variety of obligations in law.

Boureoisie

I am just starting to save-up and will create a savings account to save up for my first home or land asset.

I have other savings accounts, but do not want to use them.

But how much do you think I should start with as an end goal to buy this chosen asset.

I want to buy a property in the UK or land, to start with and buy smaller properties with a higher price range over time and build up.

I earn around £14-£18 per hour.
Not too much.

Thanks.

arbrighton

Boureoisie wrote: »

I am just starting to save-up and will create a savings account to save up for my first home or land asset.

I have other savings accounts, but do not want to use them.

But how much do you think I should start with as an end goal to buy this chosen asset.

I earn around £14-£18 per hour.
Not too much.

Thanks.

Seriously, how long is a piece of string? What are the property prices like in your area? What sort of property would you want to buy? That might vary with whether you are intending to rent it out or not.

£14- 18 per hour is actually quite a lot. Many people work for half of that approximately on national minimum wage.

If you are going to get a mortgage, and buy to let, you will need 20% plus as a deposit. However, noone except you will know what that actually amounts to as we don't know where you are or what you actually want.

Boureoisie

arbrighton wrote: »

Seriously, how long is a piece of string? What are the property prices like in your area? What sort of property would you want to buy? That might vary with whether you are intending to rent it out or not.

£14- 18 per hour is actually quite a lot. Many people work for half of that approximately on national minimum wage.

If you are going to get a mortgage, and buy to let, you will need 20% plus as a deposit. However, noone except you will know what that actually amounts to as we don't know where you are or what you actually want.

No I am planning to buy land anywhere in England and I mean anywhere with good rental prospects, I do not mind if it is land or property as long as I can afford it.

I want a piece of land with high Rental income, that is all, or a property with not too much maintenance with high rental income, something at a price range you could possibly quote me.

Something in the city or countryside with high earning opportunity.

I am in England.

Property prices in my area are roughly 70 000 to 120 000 for a 1 bedroom flat.

I am thinking of land, a flat, a house {if possible}, semi-detached, detached, modern flats.

But not bungalows or anything across those lines.

However, I am not aiming high, just small for now.

arbrighton

right then, search this forum to find some of the threads abbout the obligations of landlords, how bad tenants can be (trashing place etc), how difficult it is to evict them if needed and decide if that's worth any return.

Boureoisie

arbrighton wrote: »

right then, search this forum to find some of the threads abbout the obligations of landlords, how bad tenants can be (trashing place etc), how difficult it is to evict them if needed and decide if that's worth any return.

Thanks for that, from the looks of it, I need property not land, as leasing it will be long term and I also need to have an A* tenant as I am a beginner.

Seems there are many difficulties with landlords, including landlords themselves.

R_P_W

So you want someone to tell you how much money you will need to invest for you to rent out....but you don't know whether you want land, a flat, a semi detached or a detached house. All we know is that you are in England. Either in the city or the countryside....

You want a high end small property that will give you a high rental income? What are you expecting people to tell you?????


Based on the info you have given I suggest you save about £4m and buy a flat somewhere along the Thames in central london

Boureoisie

R_P_W wrote: »

So you want someone to tell you how much money you will need to invest for you to rent out....but you don't know whether you want land, a flat, a semi detached or a detached house. All we know is that you are in England. Either in the city or the countryside....

You want a high end small property that will give you a high rental income? What are you expecting people to tell you?????


Based on the info you have given I suggest you save about £4m and buy a flat somewhere along the Thames in central london

There is no need to be rude or sarcastic.

I answered all the questions, however I did not receive an answer that is the difference.

I would like to know if someone could tell me of any opportunities with what I have said of any property, however, saving 4million, which I assume is sarcastic would take a lifetime for me unless I somehow get lucky.

If you do not wish to answer the question, I shall trouble you no more,

arbrighton

Boureoisie wrote: »

There is no need to be rude or sarcastic.

I answered all the questions, however I did not receive an answer that is the difference.

I would like to know if someone could tell me of any opportunities with what I have said of any property, however, saving 4million, which I assume is sarcastic would take a lifetime for me unless I somehow get lucky.

If you do not wish to answer the question, I shall trouble you no more,

No, the point is the 'questio'n is so vague that no-one can possibly answer. You don't seem to know what you want or how much you have to spend or can save. So how are we meant to be able to?
Yes, the answer may have been a little facetious, but your post doesn't give a lot of clues.

hazyjo

Are you expecting someone on here to link you to a property saying 'buy this'? I too am very confused as to what you're asking. Nobody on here will give you that sort of information.

Do you want advice as to areas?

We really need to know a budget and deposit - or at least whether you have the percentage of deposit needed for a BTL (see above).

You might not get a BTL mortgage anyway as a FTB.

Are you self employed? Again, that'll probably cause further issues.

It's all just TOO VAGUE. I'm with arbrighton. I really have no idea as to what you expect to hear...

Jx