Could Brexit lead to UK property investment opportunities?
Some people focus on problems while others focus on solutions. Some situations are complicated though and it can be hard to tell what's right and what’s wrong.
Brexit is a good example of this dilemma, with some condemning the move and others advocating it.
Whatever you think about Brexit, pay attention to opportunities that might arise. These could be of benefit to astute property investors with the diligence and patience to ride out whatever turbulence Brexit might bring.
By being determined, strategic and patient, you could hold on to the promise of a comfortable retirement.
Keep your eye on the market
Frantic investors might insist that Brexit brings nothing but risk and threats to the property and construction industry, as well as numerous problems for other UK businesses. A large amount of development in the UK is funded by overseas capital, and people are paying attention during this period of Brexit uncertainty. The possibility of unstable markets means that there might be a decrease in the number of corporation owners who’d want to set up in the UK.
While some predict that UK's property sector including architecture and construction will receive less inward investment, others are confident that there will always be opportunities for people who are willing to do business. Amidst all this chaos, calm and calculating individuals could see hidden opportunities. Keep your eyes open for property investment after Brexit. While property can often be greatly affected by the markets, investors that are filled with fear could miss an abundance of opportunities beyond the horizon.
Don’t ignore customer service
Property investors are now looking at lettings agencies as a solution for better customer service. This can be a good move, particularly in times of uncertainty. Happy tenants can translate to better retention and stable revenue. By working to ensure that any reasonable requests are actioned in a timely manner, you could stand out from the competition, building a reputation for being a good option for tenants. You might even want to give them a way to contact you directly if they aren't satisfied with the treatment received from your agency.
Make full use of yield instead of capital appreciation
While capital appreciation might be a nice incentive for property investment, you're probably going to have to sell a property before you even realise the benefits and by then you might have to donate a large chunk of that in tax. Instead, think about yield which pays your bills from month to month. This means that the right property can lead to a decent profit even if you end up selling it for less than what you paid for it.
Try and cover all bases with an escape plan
There are many ways in which you can potentially survive the turbulence brought on by Brexit, as long as you know where to look. The UK's exit from the EU is still being negotiated, and will likely not be resolved until at least 31st October 2019. The future of the UK property market seems unpredictable at the moment, so have an exit strategy in place in case anything untoward happens. Not sure how to go about preparing an exit strategy? Contact me for some guidance through the different steps and scenarios.