Scotland is the Top Location to Recoup Your Buy to Let Investment
A recent study carried out by a London estate agents has revealed the top locations where buy to let investors can recoup their investment costs (Stamp Duty or LBTT charges and property price) based solely on annual returns.
Scotland was revealed to be the fastest location in which investors can recoup their buy-to-let investment costs, followed by Northern Ireland, England and Wales.
Glasgow comes out top
In Scotland the annual rent repays the costs in 17.7 years and Glasgow came out top at an incredible 13.3 years (the Wales average is 26.4 years). The second fastest was Belfast at 15.8y and Aberdeen at 17.8y.
Buy-to-let investment requires many additional concerns including capital growth, contingency funds, mortgage arrangement fees, solicitor fees etc. which investors need to take into account when purchasing a property. However, this report highlights the figures on a simple level highlighting the best areas in which to recouping the cost of your investment via the rental income.
Despite recent tax changes, buy-to-let can still be a lucrative investment option and should be part of a long-term investment strategy rather than seeing a quick return on investment. Whether you are a professional or amateur (or even an accidental) landlord, it’s important to understand the commitment before jumping in if you want to see a profit.