Conveyancing North Wales

As the owner of a rented house in North Wales for almost four years I have a thorough understanding of the pros and cons and my purpose is to inform the decision of anyone considering investing in the same way. The first point is the decision to invest. If you inherit cash from your parents as I did you will want to do something meaningful with it. There is no value in just putting it in savings as in the long term the value of that cash will drop. I did what many people do which is invest in bricks. I suppose I could have put the money in art or wine or seek out a high interest account but my thinking was based on long considered evidence that over a long period , that in excess of 20 years, houses is one of the soundest investments. Like anything , there are always the flip side. You will not be able to get at your money short term. The value of your property may go down as well as up which was indeed what has took place during the recession of the past few years. You will have to find a reliable tenant who will look after your investment. In fact you will have to find a whole collection of tenants over a 20 plus year period as the average tenant will only stay one year. You will be in demand to your tenants over maintenance and other problems . You will have to shell out for repairs etc. You will have to insure the property. Interest rates may sky rocket and cut into your profit. Your profit is taxable although on an interest only deal you can currently offset all the interest against tax. You may not be able to dispose of the property when you wish to. If you sell you will be liable to capital gains tax if it's your 2nd property. And finally you will have to pay for conveyancing in north wales plus other legal and professional fees .

Not as simple as you first thought? So why do investors like me do it at all? Well long sight I believe the capital value of my property will rise well. When the time comes I aim to take out amounts of equity from the property and re mortgage it. The equity is currently non taxable. With low interest rates I currently get a monthly small income from the property. I happen to like DIY so maintenance is not a problem.