When investing in property, what are you looking for? Is it long-term gain ie buying property in lieu of a pension fund? Or are you after passive and stable rental income?

Whatever your aim, there are certain factors when purchasing property, you should always keep in mind.

At the moment mortgage rates are at an all-time low and property prices are reasonable too. If you're buying a reduced property you can make money quickly by making minor improvements and selling it on quickly. But always line up potential clients beforehand otherwise you'll be saddled with mortgage commitments.

Work out how much time you have to invest in your property commitments. Renting property can be time-consuming, especially initially, with plenty of paperwork and legwork in eg showing potential tenants round. At this point it makes sense to get a property agent such as Clear Lets involved.

Look out for regeneration areas. Local council's will have details of these. Buy while property prices in the area are still at a low then sell years later for major profit.

When it comes to tax, you can claim on your property, interest which has accrued on mortgages and closing expenses from your annual bill. Consult a tax specialist for expert advice.

Maybe you're lucky enough to be an expert when it comes to DIY and can work out quickly and precisely how much investment a property rquires in terms of repairs. The majority of us aren't that way inclined but should still arm ourselves with some reasonable knowledge beforehand ie do as much research as possible, including interviewing the previous owners if they're still around.

In the event of delays when it comes to repairs, it's a good idea to keep aside an emergency fund. Enough cash to pay the mortgage for three months should tide you over without too much worry.

When buying a property in a 'reasonable area' make up your mind never to pay more than the current market value. And never just stick to a location you know and are familiar with. Diversification is good! Look not just outwith your region, but your countrry. This not only gives you a bigger pool of property to choose from but doesn't limit you to one particular country's economic situation.

For further information on investing and the best way to approach it, contact any of our Clear Property Investment staff.

a reduced property you can make money quickly by making minor improvements and selling it on quickly. But always line up potential clients beforehand otherwise you'll be saddled with mortgage commitments.

Work out how much time you have to invest in your property commitments. Renting property can be time-consuming, especially initially, with plenty of paperwork and legwork in eg showing potential tenants round. At this point it makes sense to get a property agent such as Clear Lets involved.

Look out for regeneration areas. Local council's will have details of these. Buy while property prices in the area are still at a low then sell years later for major profit.

When it comes to tax, you can claim on your property, interest which has accrued on mortgages and closing expenses from your annual bill. Consult a tax specialist for expert advice.

Maybe you're lucky enough to be an expert when it comes to DIY and can work out quickly and precisely how much investment a property rquires in terms of repairs. The majority of us aren't that way inclined but should still arm ourselves with some reasonable knowledge beforehand ie do as much research as possible, including interviewing the previous owners if they're still around.

In the event of delays when it comes to repairs, it's a good idea to keep aside an emergency fund. Enough cash to pay the mortgage for three months should tide you over without too much worry.

When buying a property in a 'reasonable area' make up your mind never to pay more than the current market value. And never just stick to a location you know and are familiar with. Diversification is good! Look not just outwith your region, but your countrry. This not only gives you a bigger pool of property to choose from but doesn't limit you to one particular country's economic situation.

For further information on investing and the best way to approach it, contact any of our Clear Property Investment staff.

View other news from August 2010