How to Invest in Property with a Low Budget

real estate investment

Property investment is no longer just for the very wealthy. It can be a great way to save up for the future and it can be more affordable than you might have assumed. By being savvy and thinking outside the box, property investment can be an option even on a low budget.

Choose an Area on the Rise

Properties in areas which are yet to experience the benefits of extensive investment can be a great way to get value for money in property investment. Plans for regeneration and investment can easily be found, allowing investors to buy properties that are going to increase in capital appreciation. It may seem odd to buy a property in an area that currently has a less than perfect reputation, however these are often the chosen location for developers, due to the amount of available space and the lower cost of land. As the number of pristine high rises and new business spaces increases, so does the value of residential property. The future Wirral Waters development in Liverpool will completely rejuvenate the region, and affordable property investment there should increase in value exponentially. This kind of ambitious project is transformative for a region, attracting both new residents and new opportunities. Property investors on a low budget would be wise to consider areas earmarked for future investment and take advantage of the current lower price points.

Look Slightly Further Out

By looking slightly outside the city centre, investors can get far more for their money which is essential when investing with a lower budget. UK cities are rapidly expanding and areas on the outskirts are increasingly becoming city centre locations. Manchester is a perfect example of this, with areas like Salford Quays and Ancoats being totally transformed by new developments and increased investment. Not far out of the city centre, improved transport links make these locations perfect for young professionals. The demand for buy to let property in city centre locations is incredibly high, so looking at a map and moving your target area can pay off in the future.

Look at Student Accommodation

Purpose Built Student Accommodation can be a great investment for lower budgets. This lucrative sector offers great return on investment, with yields up to 8%. Investors can purchase a student apartment for as little as £45,450 from expert property investment firms like RW Invest. The student sector is booming, with the demand for accommodation far outweighing supply. In 2017 there were 2.32 million students living in the UK, making up a significant percentage of the population. International students are also coming to the UK in greater numbers, and are often looking for high quality, modern accommodation. With this record volume of students, the demand for purpose-built student accommodation has never been higher, providing investors with valuable opportunities for profit.

Think Small

Property investment doesn’t have to be an entire house. There has been an increasing rise in demand for rental property everywhere in the UK, with a fifth of households now leasing from a private landlord. With such a large increase in the number of renters, smaller spaces like one-bedroom apartments and studios are becoming highly sought after. Studio apartments are a far more affordable investment property. Many young professionals are happy to sacrifice space for a great city centre location and studio living has become increasingly popular. The quality of studio apartments is also far higher than it has ever been. New developments now commonly incorporate studio flats into their plans, with features like on-site gyms, parking spaces and high-speed internet as standard. The increasing demand for studio apartments will see their value rise, making them a great investment for capital appreciation.

5 Ways You Can Rebuild Credit When You Reach the Twenties

Debt repayment

Credit scores aren’t even considered as important by many of you till the time you decide on making some form of investment. You may realize your dream of being a businessman or homeowner when you’ve settled down in your thirties or forties. Very few of you tend to maintain a good credit when you’re in your thirties. The damages caused to your credit score when you’re young can actually be repaired if you maintain a few good habits.

Keep an Eye on Your Credit Report

In order to lower your credit more efficiently, you must be aware of the true extent of damage caused to it. TransUnion, Equifax, and Experian are the three leading credit monitoring services that help in generating the credit score of a person. Your credit score is bound to take a hit when these reports depict errors. Errors may reflect anything ranging from careless payment mix-ups to fraudulent accounts that can leave a negative impact on your history. You’ll often need to submit some verifiable documents in order to get these errors rectified.

Reconsider Your Credit Approach

Until you’re able to pay off your credit card balance within the same month, you must avoid using your card. Refrain from applying for new cards. All credit card applications that you make are tracked by credit reporting agencies. Your credit score is bound to be underlined when you consider applying for an excessive amount of credit. Once you pay off your older cards, you must keep a record of them. Lenders prefer issuing a credit to applicants that have a long credit history. You must attempt to keep your account active even if you need to use the account for once every month.

 Meet Bills on a Timely Basis

All of your bills ought to be paid off in a timely manner if you really wish to main a strong credit under all circumstances. Your credit score is bound to reflect a negative impact once you get past the due date of your car and mortgage loans by over 30 days. Your debt repayment track record holds about 30% of your liability to the lender. By intending to pay off your monthly bills on a timely basis, you may initiate the process of credit repair.  In order to make your payments on time, you may choose to use text reminder messages or set up your financial calendar.

Pay off Debt

It often becomes tough for many of you to practice healthy credit habits till the time you work out of a heavy debt burden. You’ll stand the risk of falling back on certain ill-habits after your finances get restricted by debt; you may have acquired some of these habits when you were in your twenties. Prioritizing debt repayment with whatever extra you earn will help in repairing your credit. Credit scores are bound to rise when your debt balance lowers as an outcome of the reduced credit-utilization ratio, which reflects your outstanding debt against that of your credit line.

Secure a Fresh Credit Line

You may easily achieve a usable line of credit when you achieve a retail card or any secured credit line. You’ll find it much easier to qualify for retail credit cards as they come with credit lines that are relatively low. If you choose to use any traditional credit card, you may consider being an authorized user on the account of a friend or a loved one. However, by doing this, you can make them liable for your own financial mistakes. When it comes to improving your financial history, you must work towards repairing your credit.  Repairing your credit gets easier when you achieve any loanable opportunity with an eminent lender or get a secured credit card.

The tips mentioned above are likely to help you in repairing your credit score and curb your damage by a large extent. You must have taken a number of bad decisions in the past if you need to repair your credit score right now. So, it’s high time you be careful about your finances!

We Buy Any House, No Matter How Much Work Is Needed

Buy house

If you purchased a property that needed a lot of work and now you’re trying to sell, it may be a little more difficult. While it’s challenging to sell a work in progress, it may be easier than you think. You’ve got to focus on finding the right buyer who is not afraid to tackle a big project that has a lot of potential. Here are some ways you can help attract this type of buyer to your project property and sell it quickly.

Advertise It as a Fixer Upper

Start your property sale process by advertising your home as a fixer upper. There is a market for buyers looking for older properties that need some work. Investors, such as those who tout, “We buy any home,” are constantly on the search for properties with amazing potential. When you list your home, make sure you indicate you’re selling it “as is” and that it needs work.

Focus on Unique Details

Another way you can move your fixer upper off the sale market is to spread the hype about your home’s unique details. If your fixer upper home is a historic property, advertise the history behind your home. Find old photographs or illustrations of your home to help buyers see the property in a more positive light. For a newer home, make a list of all of the parts of your home that don’t need work. If you have a new roof, a new HVAC system, or something else that doesn’t need to be updated, mention this in your listing.

Play It Up as a Bargain

The biggest draw of a fixer upper for many buyers is the bargain price. So, if you’re trying to sell a property that needs work, you’ll need to knock down the price a bit to make it seem like a bargain to the average buyer. Do some research on similar properties in your neighborhood that have sold to come up with an appropriate price point. This way, you can give your buyers room in their budget for fixing it up.

Use Nontraditional Home Buyers

Your future buyer for your fixer uppermost likely will be a nontraditional home buyer. In many of these situations, you won’t need to deal with real estate agents or traditional home contracts. To get it sold quickly, consider going with a home buying business that specializes in purchasing fixer upper homes with cash. They may advertise themselves saying, “We buy houses,” and can turn around a fixer upper property quickly.

Provide Information About Remodeling Options

A buyer without a lot of experience with a project property may be overwhelmed at the thought of all of the work required to get the home looking great. You can help show the possibilities by providing information to buyers about remodeling options, such as renovation loans, pictures of similarly remodeled homes, and tax credit details. If you disclose this information to all buyers and present your property as something with hidden potential, you may have more success with fast offers.

Fix Anything Minor

Finally, even if your home needs a lot of work, you can help move the buying process along by fixing a few minor things. Don’t invest thousands of dollars in any of these updates; instead, focus on small projects that take a few minutes or little cash. Work on fixing broken windows, holes in the walls, or other unsightly blemishes on your fixer upper home. Leave the big projects and pricey remodeling transformations to your buyers.

A fixer upper is not always going to sit on the market for months at a time. Many of these properties can sell quickly if you position your home in the right way and price it accordingly.

5 Ways You Can Save On A Budget

Saving extra cash on a small budget can seem impossible when you’ve never done it before. But like any new skill, all you need is time, patience, and dedication to learn how it’s done. Think of budgeting like riding a bike. At first, you’ll need the support of some training wheels, but once you have some experience behind the handlebars of your budget, saving will become second nature to you.

Start your saving journey with this guide. It outlines five easy ways to save— no matter how small your budget is.

Save on budget

1. Take a second look at your budget

A budget should never be a thing you let rot somewhere in a hidden folder on your desktop. You should check in with it often, and update it as changes to your income or expenses happen.

When you take the time to review your budget often, you’ll become familiar with your spending habits. Regular expenses on things you don’t need drain your bank account of money. Once you eliminate them from your routine, you can put this cash into a savings account.

If you’re having trouble finding these patterns in your spending on your own, you can use a money management app like Mint to help. It keeps track of your cash for you and sends notifications when you’re overspending. After a couple of weeks, it’s able to analyze your spending habits, and it uses its findings to send personalized savings tips.

2. Automate your finances

From the posts you see on your Facebook feed to the Starbucks chatbot that lets you pre-order your latte, so many of the services you use in your daily life are already automated. You might as well embrace what automation can do for your savings.

It can be hard to commit to a regular savings schedule. All that cash sitting in your account calls your name, begging for you to spend it. If you can’t resist the urge to spend money you’ve devoted to savings, automating these contributions can take it out of your hands.

You should try setting up an automatic transfer between your checking to your savings on your payday, or see if your employer’s payroll department can split your paycheck deposit between different accounts. It’s hard to spend cash that was never there to begin with, so this helps prevent overspending.

3. Be goal-minded

Saving without direction is risky. It’s hard to commit to anything if you don’t understand how you stand to benefit, so make sure you attach a goal to any savings. You should choose something that will remind you of why you’re cutting out those fun but ultimately unnecessary purchases from step one above. Whether it’s an emergency fund or new shoes fund, this label can help you keep your focus and avoid spending money on other things.

4. Choose financial services wisely

Traditional banking rarely benefits people on a small budget. Conventional bank accounts come with terms and conditions that include expensive monthly fees, overdraft charges, and minimum balances. A lot of the times, these charges are hidden in complex financial legalese that only serves to confuse the average customer. While the biggest retail banks like Citibank and Bank of America are the most popular ways to save your money, they aren’t the only ways. There are alternatives companies that offer no-fee checking accounts and simple personal loans online.

Mobile banks like Chime don’t have any physical storefront, and the money they’ve saved in overhead means they can offer free accounts with no minimum balance. Likewise, a lender like MoneyKey does their lending online. They offer fast payday loans online that are uncomplicated and easy to understand. Clarity is essential when you’re searching for a personal loan. When you know the full extent of your agreement, you can avoid taking a payday loan that isn’t in your ability to repay.

5. Shop better

Spending your money is a part of being an adult with responsibilities. But just because you need to pay for things like shelter, food, and clothing doesn’t mean you have to pay full price for each item on your list. You can find a deal on almost anything if you’re willing to put a bit of time into it. Here are some ways you can cut down the final price on essential purchases:

  • Comparison shop: Most groceries stores will match the price of their competitors if you can prove they’re selling an item for less. This will take time, as you’ll need to find flyers or print outs as proof.
  • Couponing: You don’t have to spend your Sunday afternoon clipping coupons to find deals. You can find coupons and rebates using the apps on this top 7 list of shopping apps.
  • Timing your purchases: If it’s not a “need right now” item, then waiting to purchase something until it goes on sale can help you save. Keep track of popular sales, like Black Friday, Cyber Monday, or Amazon Prime Day to maximize your dollars.
  • Buy in bulk: Going to Costco could save you some cash if you need a lot of one item. Non-perishable household items like toothpaste and laundry detergent are great to pick up in bulk. Just keep an eye on its price per unit to make it’s cheaper than at the regular grocery store.

You aren’t destined to live without savings just because you have a small budget. You can find ways to set aside cash no matter how tight your finances are, as long as you’re willing to put in the time. Once you get used to these strategies, start looking for more ways to save. You can transform yourself into a saver faster than you think.

Some Rules to Know about Retirement

Retirement planning

Retirement is one of the most uncertain periods of your life. There is just so much suspense. You have no idea about what you going to do. Though you already know the time of your retirement, you are just clueless about the easy you are going to spend your time or actually earn. this is why it is a very tricky period and people have been known to just go into depression because of the sudden change in lifestyle. This is why you must read ahead to find about some of the golden rules about retirement. This will not make you go any younger but it will definitely help you to plan from now and also better.

  1. Invest till you are able to earn: This is one of the best things that you can do. You must always invest. There are a number of investment options that are available for you in the market. It is true that most of these investment options come with the factor of risk. However, this is why it is recommended that you invest little by little. This way, you do not lose much in case of a loss and actually get profit when the time for you is good and your choice is wise.
  2. Start something from home: Next, you must plan for working from home. There are a number of jobs such as writing and other tasks that you can do form home. This is not as well-paying as a full-time job but it is definitely great for you. in fact, you can also start another business by following a fashion such as cooking or gardening. There is immense demand for it. One of the most recent things that people are taking up extensively in organic farming. This can help you earn for yourself and you will not have to depend on anyone else.
  3. Save when nearing retirement: When you are young, you tend to spend a lot. However, this needs to be controlled faster a certain time. Spending excess at any given point of time can be detrimental for you because you do not know when misfortune may strike. But, that does not imply that you start living in fear and actually give up your enjoyment at the present. This is why, when you cross 40, you must start saving for retirement. This is a good time to calm down and enjoy life as well as think about the future that is to come.
  4. Do not touch your emergency funds until needed: Last but not the least, it is one of the personal financial goals for people to save funds for emergency. These are situations that can just pop up any time without any warning in advance. This is why you must always save your emergency for such a situation only. As you grow older, you tend to fall sick more often and your immune system weakens. This is why you should not use your emergency funds for anything else.