Welcome To PropertyForBeginners.Co.Uk

PropertyforBeginners.co.uk is a new website for those of you interested in developing properties. My name is Sarah and I am a property developer myself. I am particularly interested in going green in my properties, but without breaking the bank - after all we want to make a profit as well as saving the planet! As I come across new technologies I will add them to this site so that you can all take a look.

My hope is that this website will prove to be a useful resource in all things 'property', because, lets face it, in these uncertain times we need all the help we can get.
We hope you enjoy your visit to PropertyForBeginners.Co.Uk

So you have decided to take the plunge and become a property developer. Now all you need to do is get started! So where to begin? Here are a few ideas:
  • Research an area and decide on your price range. Be realistic - your chosen area may not support your budget so be prepared to look around.
  • View suitable properties and make an offer. It is a good idea to take a camera and a notebook because after the first few viewings it is easy to loose track.
  • If the vendor rejects a reasonable offer do not be tempted to offer more than you can afford. There will be other properties so don’t be tempted to blow you budget - remember that you are buying with your head and not your heart!
 
  • Arrange the finance (shop around for the best mortgage deals).
  • Get a survey (invest in a full building survey if you are planning a renovation projection).
  • Find professionals and get quotes (always make sure you check references and if possible view examples of their work - this will save you trauma in the long run).
  • Get the work started (keeping control of the budget). This can be one of the toughtest tasks involved in the whole project!Keep records of costs for tax and profit purposes.Finish the property and clean it throughout. You may have to do this a couple of times because dust gets EVERYWHERE and it may take as long as a week for it to settle.
  • Dress the property and put it on the market. Try to be reasonable when setting the sale price. If you overprice the property you may put off potential buyers from even viewing your property. It may be tempting to hold out for a better offer but in these uncertain times it might be better to take a reasonable offer.
  • Once the sale has completed THEN start thinking how you will spend your cash! Doing this before the sale has gone through can lead to disappointment if for some reason it doesn't complete.
 
 

Interesting Diversions...

Amateur Property Developer - A regularly updated blog charting one man's experience of property developing