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Property Development In A Recession

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Property development in a recession isn't all doom and gloom. In fact there are several reasons why property development doesn't have to hault just because of a recession. This is our brief guide to …

Property development in a recession isn't all doom and gloom. In fact there are several reasons why property development doesn't have to hault just because of a recession. This is our brief guide to why you can still make a mint.

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  • 1. The Recession and Property Development The silver lining in the cloud of economic downturn Call us on +44 (0) 1273 627900 Email us on talk@ready2invest.co.uk Look at our website www.ready2invest.co.uk
  • 2. The Recession and Property Development The silver lining in the cloud of economic downturn There seems to be general consent that the property development in times of recession is not an advisable investment choice for first time investors but what if the recession is the best thing that could’ve ever happened to aspiring property developers? Recession benefits Discount refurbishment Consider this: In times of recession businesses find themselves offering their services and products at huge discounts to beat the competition and sell their services to a decreasing number of people that can afford them. So, if you are looking at buying a property, doing it up and then reselling it, one gift the recession brings you is the fact you will be able to purchase supplies as well as professional services at huge discounts.
  • 3. Buying below market value The next and even bigger gift the recession comes bearing is the fact that with the right research, you will be able to buy properties at prices far below market value. This is due to the high number of distressed property sales, i.e. properties under foreclosure order due to the recession. Property experts agree that profits are made at the buying stage of a project, that is by buying at the lowest possible price so as to maximise profit margins. The recession allows for just this and auctions and ads by private sellers are a great place for bargains. Checklist Before handing over any money, make sure you have done your research: Area and market Research the area you are intending on buying in well, i.e. how many properties similar to yours are currently for sale in the area? How many properties similar to yours have recently been sold? How many similar properties are currently up for rent?
  • 4. Legal issues • Get the property independently valued • Use a solicitor to check the lease/freehold on your property, to check the land registry and planning status • Get an estimate on the cost of required refurbishment works Get the benefits without the headache If all this seems too daunting or time consuming, consider contacting a professional property development firm. They tend to know every little detail about the areas they develop in and generally have great networks consisting of local estate agents, high street banks and solicitors. Professional network benefits Because of their strong ties with local agents professional development firms tend to get discounts on property purchases far below those available to individual developers.
  • 5. Finance Furthermore with proven track records professional development firms can assist in getting non-status finance. Management Many professional services include full management of the entire process taking the headache out of the venture whilst giving you all the benefits .
  • 6. Contact the experts If you have any questions about off plan property investment, then you have come to the right place. Ready2Invest have the expertise and knowledge to help you to get your feet on the ladder of off plan property success. Talk to us We enjoy talking to our clients about what we do – helping them to understand the market, get involved and make a profit. So please feel free to talk to us in any of the following ways: Property Consultants Call us on +44 (0) 1273 627900 Email us on talk@ready2invest.co.uk Technical team Email web-master@ready2invest.co.uk if you have any questions relating to this website Address Ready2invest Ltd. Olivier House, 18 Marine Parade, Brighton, BN2 1TL

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