Picking the first property for Buy to Let is easy but actually signing on the dotted line and committing yourself is the hard bit. At the back of your mind no matter how much research you've done, is the thought "What the *&)% am I doing!"
We reviewed a number of properties and deal structures from Serliana and picked this one at a place called Park Central in Birmingham.
Its a one bedroom apartment in a new development near the city centre. There were a number of reasons that persuaded us to buy this property first:
Its not that far away from where we live. I know that everyone says look on it as an investment and it doesn’t matter where it is but there is just something reassuring about being able to jump into the car and quickly be on site if there are any issues.
It is in a redevelopment area where millions of pounds are being spent demolishing an old rundown council estate and creating a brand new housing development.
It is 5-10 minutes walking distance to Broad Street, a main City centre entertainment area with restaurants, bars, nightclubs and shops.
It is 10 minutes walk to Birmingham New Street main line train station (also being considered for massive redevelopment) and regional rail hub for the midlands. It is also 3 minutes walk to Five ways train station station giving quick access to Birmingham University, Queen Elizabeth Hospital, Selly Oak Hospital, and Cadburys factory at Bournville.
Its on the first floor and it has an entry phone which should hopefully provide reassurement about safety.
The price from Serliana was considerably discounted from the price the developer was publicly quoting.
We went on site to view it (hard hats, the works), was really impressed its not complete until Jan 07 but it was 80-90% done. So looks like its green on!
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