Setting up a smarter property portfolio
Property – especially rental investment – is hot property in Manchester at the moment. If you’re new to the market and considering making your first investment or enlarging your property portfolio, you’re in the right place. Knight Knox are the trusted experts in the off-plan buy-to-let market; let them guide you through the process.
It’s no surprise to the people who live here, that Manchester is always near the top of best-places-to-live lists
Is a buy-to-let investment right for me?
Before deciding whether buy-to-let is for you, it’s important to understand what exactly it is. To put it simply, buy-to-let investment is the purchase of a property with the intention of renting it out to the Private Rented Sector (PRS) instead of living there as an owner-occupier.
Nobody can tell you if buy-to-let investment is right for you but be assured that property investors are not all billionaires. Many of them are just normal people like you, who want to take steps to invest their money wisely to help increase their savings or provide for a more comfortable retirement.
First things first, set a budget for your investment. Take a look at your finances and determine how much money you can afford to spend on your investment property. The budget you set will determine both the type of property and the locations in which you can invest. One of the key factors is deciding on whether you purchase with cash or if you need finance.
Most off-plan property investment requires you to make a cash purchase in stages over the course of the build. Buy-to-let mortgages are available, but the terms depend on the situation of the individual and you will not know if you can get one until the development has completed, which is why you should only pursue this route if you have the cash to fall back on.
However, Manchester is a good place to begin building an investment portfolio as it has lower entry-level property prices than other cities like London. In fact, Knight Knox has buy-to-let properties available from just £85,000. Buying off-plan means you can benefit from prices like these and consequently from capital appreciation when you come to sell.
Perhaps most importantly, if you’re just starting out in property investment, Knight Knox have been in business for almost 20 years and are respected professionals in the industry who will guide you through every stage of your investment and help you find the ideal property investment for your budget.
What is the process for property investment?
First of all, chat to one of Knight Knox’s property consultants. They know everything about the local property market so once you’ve discussed your requirements, your property consultant will be able to help you find the right investment to suit your needs.
Once you’ve chosen your investment property, simply pay Knight Knox a reservation fee of £5000 and it’s yours – almost, It’s off the market at least.
You can appoint a solicitor to carry out the necessary legal work or you can use one of Knight Knox’s recommended panel of solicitors who know the intricacies of buy-to-let investment inside out. Give your dedicated aftersales consultant the details of your solicitor and the ball will start rolling – and quickly too. Exchange of contracts is required within 21 days of reservation.
Is now the right time to invest in property?
We’ve had a turbulent few years, but despite the economic uncertainty, property investment is thriving. Over the past year, property prices have risen by an average of £27,000. Rental prices paid by tenants have also increased over the past year and higher house prices will continue to mean a greater demand for rental properties.
Both Savills and JLL predict this growth to continue, with the North West and Yorkshire being the biggest benefactors of house price growth between now and 2026.
Why invest in Manchester?
Everyone knows Manchester is the UK’s second city. It may not be official, but it has the cultural clout and economic growth to back up the claims.
Manchester is a popular place to study with world-class universities that attract students to the city and a lifestyle that encourages them to stay after graduation.
It’s no surprise to the people who live here, that Manchester is always near the top of best-places-to-live lists. Third best in the world in 2021 according to Time Out, beating everywhere from Paris, to New York, to Berlin. Naturally. This is Manchester, after all.
The lifestyle, education and career opportunities that Manchester offers goes some way to explaining its rapidly increasing population. The current rental market is inundated with young professionals looking for a place to call home and this demand continues to push rental prices up.
Urban Bubble’s December 2021 Manchester Monthly Snapshot reported that rents across Manchester had increased by £254pcm on the previous year. JLL believe that rents in Manchester could continue to rise with a 15.9% increase expected between now and 2026.
Why choose Knight Knox?
Knight Knox has 20 years of experience in the sale of buy-to-let properties in Manchester and across the UK. The team have made a name for themselves as market-leaders in the industry.
How about this for a track record? Knight Knox has launched over 120 developments with a total value of over £1.2 billion, more than 100 of which are now fully completed and tenanted.
What’s more, our recommended lettings agents will handle the management of your property so you can benefit from a hassle-free, passive income.
Whether you are a first-time investor or looking to build on an established portfolio, Knight Knox is certain to have the perfect property for you.