Oxford landlords recommend investing in new builds
Those planing on buying-to-let in Oxford and elsewhere may want to consider opting for new build properties.
Such properties usually require much less work to be carried out on them before they can be let in comparison to older properties, while it is also less likely that any repairs will need to be undertaken during the tenancy.
Therefore, new builds could be particularly attractive to those inexperienced in buying-to-let or becoming a landlord for the first time.
Oxford couple Marc Curtlin and Angela Wooding recently invested in a three-bedroom house to place on the lettings market located in a new development near Banbury and highly recommend this route to other landlords.
"It meant we have had no work to do on the house and it could be let straight away," Ms Wooding told the Oxford Mail.
"Light fittings and carpets were included, so we didn't have additional expense for those."
The house was the couple's second buy-to-let investment after first purchasing an older two-bedroom house in Bishops Itchington, near Leamington Spa.
"It was 20 years old and needed a lot of work done to it before we were able to rent it out, but we found tenants immediately," said Ms Wooding.
"We both work full-time so the thought of buying a brand new home for our second investment was appealing."
The couple recommended investing in buy-to-let in general as a way to make money at a time when low interest rates means traditional investment and saving products are offering meagre returns.
"The financial markets are not offering the rates they used to, so that is the best place to invest," said Ms Wooding.
"People have got to live somewhere and by putting our money into property, we are speculating to accumulate."
It follows recent figures from buy-to-let mortgage lender Paragon which showed that 44 per cent landlords reported a rise in tenant demand during the the third quarter of the year, compared to just four per cent who thought it declined.
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