Entering the world of property investing can feel overwhelming, but it doesn’t have to be. Like anything new, nobody starts out knowing it all. With the right approach, you can set yourself up for success in 2025 and beyond.
There will always be mixed views on the road ahead. Although mortgage rates are slowly reducing, rates remain fairly high and landlords were handed a high stamp duty land tax bill when purchasing additional property.
Yet rents have continued to rise, increasing by 9.1% on average in the 12 months to November 2024 (ONS).
Ready?
Before diving into spreadsheets and property listings, take some time to talk with a few companies or advisors who align with your aspirations. These conversations might not always feel productive, but they’re valuable. Sometimes, figuring out what doesn’t work for you is just as important as identifying what does.
Ask yourself some key questions:
– Why are you investing in property?
– What are your goals beyond financial freedom?
– How does property investment fit into your larger life plan?
Remember, what works for someone else might not be the best path for you. Taking the time to clarify your “why” will guide you to a strategy that feels right.
Steady…
Once you’ve refined your goals and developed a clear, realistic strategy, it’s time to lay the groundwork. Here are a few foundational questions to consider:
– Will you invest as an individual or with a partner?
– Should you purchase privately or through a limited company?
– What’s your budget, and how much risk are you willing to take?
– Which types of properties align best with your investment profile?
Keep in mind, that property investing isn’t just about buying property—it’s about buying the right property in the best way for your unique goals.
Go!
It’s easy to feel held back when you compare yourself to others. Maybe you’re looking at someone further along in their journey or lamenting missed opportunities. Don’t let that stop you.
The truth is, the best times for wealth-building often don’t feel exciting—they can even seem dull. But looking back, investors often wish they’d taken more action during those quieter times.
The strongest opportunities rarely announce themselves with flashing lights and sirens. While some people wait for “perfect” conditions, savvy investors stay focused, recognising that solid returns are still out there, even in challenging markets.
Take the First Step
2025 could be your year to start building a robust property portfolio.
Begin by clarifying your goals, strategizing your approach, and moving forward with confidence.
Remember, every successful investor started somewhere.
