10 things to consider when investing in Scottish property.
- Location: It’s important to choose a property in a great spot that is expected to increase in value over time.
- Property condition: Look at the current condition of the property and think about any updates or repairs that may need to be made.
- Rental income: Find properties with the potential to bring in rental income.
- Property type: What type of property are you interested in? e.g. single-family home, multi-unit building or commercial property.
- Market trends: Research current market trends and the overall strength of the real estate market in the area you’re considering investing in.
- Financing options: Investigate various financing options available to you, for example mortgage, bank loan or gift from friend or family member.
- Tax benefits/requirements: Learn about the tax benefits and deductions available for property investment and aware of the government regulations in relation to your accounts.
- Management and maintenance: Think about the ongoing management and maintenance costs associated with owning a property.
- Insurance: Ensure you have the correct insurance in place to protect your investment.
- Professional advice: Get advice from those in the know… like a real estate agents financial advisor, mortgage brokers and property investors already in the thick of it… use their advice to help make informed decision.
If you are considering investing in property in Scotland, we are always available to discuss your options, feel free to reach out.We look forward to hearing from you.