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Buy-to-let is the new DIY |
| Friday, 25th August 2006 |
Buy to let is now seen by homeowners as the best way to invest for the future. |
But at the expense of improving their own property, reveals a recent survey commissioned by Property Investor Show (22 â 24 September, ExCel, London).
The survey, which polled 3,000 past visitors of the Property Investor Show, revealed that 39% of the respondents are relying on buy to let investment for their future wealth, whereas only 15% are banking on the equity in their home, to bolster their savings.
And the hope of getting a salary rise and bonus to improve finances has sunk to the bottom along with more frivolous thoughts like winning the lottery.
With more people relying on the returns from buy to let investment rather than the equity from their own property, home owners are choosing not to improve their home - traditionally the way to add to its price. The survey revealed that a clear majority of respondents (73%) would prefer to invest any spare cash into B2L property rather than spending the money on home improvements.
Nick Clark, managing director of Homebuyer Events said: âTypically, homeowners have opted to add to their nest egg by improving and extending their property. However, buy to let has become a lot more popular and feasible option. Buy to let investment is now far more accessible for novice investors, and as there remains high tenant demand alongside good rental yields in the UK and overseas, it is set to continue to be a favoured option.â
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