You are lucky enough to have landed yourself on the property ladder before it became impossible. You defied all of the odds, got your head down and worked incredibly hard to save enough money to buy your property. Financing the purchase of your new home wasn’t easy, but you are in the position to move into a larger house and make a little money from your initial investment. There are many ways that you can bring in a good amount of cash when you move house, so make sure you maximise on these elements and make the most out of your move.
Firstly, you could look into investing in a second property whilst keeping your current one. If you’re in the financial position to do so, this is a sure fire way to make cash with minimal effort. When you are looking at buying a new home think about what kind of property would benefit you in terms of an income. Investing in a property in a student area or a larger house, which could act as a house share is a great way to bring in some money each month. Becoming a landlord and renting out a house in order to gain a profit is an extremely popular way of maximising on your property investments. Not everybody has the capital to make this dream a reality, but you might want to think about saving up for a venture like this. The gains you could make would be well worth the effort of saving up for years.
Uplift and Overhaul
Before you put your property on the market, make sure that you have done everything you can to increase its value. It is very likely that you could make a health sum of money when you sell your property. If you bought it several years ago when the housing market looked a little brighter you might be able to implement some tactics to make your home more attractive to potential buyers. Get your property surveyed professionally and receive an accurate valuation of your home in its current state. Look at ways you could increase this amount and you will be able to make a solid profit from a successful sale. Elements such as renovated gardens, modern kitchens and well-kept paint work will all make your property more valuable and set it apart from others on the market. Tackle one room at a time and make small tweaks to build its worth before you sell it.
You are already shrewd and in the know when it comes to the world of property, so why not take the leap and start to make some money from it? By buying a new house you could not only be setting yourself up for financial freedom, but you could also be creating a new career for yourself without even realising. Get into the art of house flipping or rent out a room for an extra income. Make the move today and use the property market as your catapult to success.