Buying an investment property is an important long-term financial decision.
Before buying, you should seek independent advice as to the merits of the purchase. You should also talk to people who have been landlords and have had investment properties, and know first-hand what the pros and cons are.
Things to look out for
- Understanding your duties as a landlord
- Knowing the rights of tenants, especially in light of evolving tenancy rights
- Understanding the tax implications of rental income
- Considering alternative strategies for investing your money