Property investment is a capital hungry business – the purchase of a property is just the beginning of a long line of costs.
Estate agents, glossy brochures and TV programmes deal in the “headlines” of buy to let; the sort of sums which make you think property is a short-cut to becoming an over-night millionaire.
Property can make you money – but it’s also going to cost you money. And there’s a lot of hidden expenses involved. These are the boring details that many don’t like to deal with – talking about solicitors fees and stamp duty takes some of the sexy sheen away from which kitchen worktop to opt for.
But the devil is in the detail. (more…)