Buy to live or buy to let?
Think about your short and long-term financial goals when buying property Before you buy property, you often think whether you want to buy to live or buy to let. Do you want a home or do you want an investment? Would you rather swap your monthly rent to pay towards a mortgage or would you rather rent out for potential additional revenue? Here are a few tips that will help you decide. Investment A buy-to-let strategy is an attractive investment option offering regular rental income, long-term capital growth and security, even for those with a mortgage to pay. When you are buying to live, your major initial investment will be monthly payment towards mortgage in addition to insurance, property taxes and ongoing maintenance of the house. Once the house is paid off, remember you need to keep investing in maintenance of the house so that your property value does not fall, even if you decide to rent it out in the future. If you are buying to live, ensure that the resale value of the p...