Have you ever dreamed of winning the Irish Lottery, having a considerable gain in business, or otherwise coming into a lot of money? Most of us have. Among the most common things people buy when they find themselves with a lot of cash are:
- Homes
- Investment Properties
- Automobiles
- Holidays and vacations
- Luxury items
- Jewelry
- Clothing
- Home Decor
Most people in this situation want to make their money grow. This is the only way to make a lasting change in your life. Below, we will explain why more people are using their financial windfalls to invest in Surrey, England.
Why Invest in Surrey?
Surrey is an excellent choice if you’re looking to invest in property. The county in southeast England is known for its strong economy, high quality of life, and excellent transport links. The area has a diverse range of industries, including technology, biotech, and aerospace, which have helped to drive economic growth in recent years.
Surrey is also home to some of the UK’s top-performing schools, making it a popular destination for families. The county has a rich cultural heritage, with historic towns and villages, stunning countryside, and world-class attractions such as Hampton Court Palace and Kew Gardens.
Investing in property in Surrey can be an intelligent financial decision, as property prices in the area have risen steadily over the past decade. According to data from Zoopla, the average property price in Surrey is currently around £600,000, with costs varying depending on the location and type of property.
Factors to Consider Before Investing
Before investing in property in Surrey, there are several factors to consider. Firstly, you’ll need to decide what property type you want to invest in. Surrey has various properties available, from traditional-period homes to modern apartments.
You’ll also need to consider your budget, as property prices in Surrey can be high. However, there are still opportunities to find good value for money, particularly in up-and-coming areas.
Another vital factor to consider is the location of the property. Surrey has a wide range of towns and villages, each with unique character and amenities. Choosing an area that will appeal to potential tenants or buyers and has good transport links and amenities such as shops, schools, and leisure facilities is essential.
Finally, you’ll need to consider the potential return on your investment. This will depend on a range of factors, including the location, condition, and type of property, as well as the rental yield and potential for capital growth.
Types of Investment Properties in Surrey
Surrey has various investment properties, from traditional family homes to modern apartments and new-build developments. Some of the most popular types of investment properties in Surrey include:
- Family homes are popular for investors looking to attract families or professionals who require more space. Surrey has a range of period and modern family homes available, with prices ranging from around £400,000 to over £2 million depending on the location and size of the property.
- Apartments: Apartments are popular for investors looking to attract young professionals or students. Surrey has a range of modern apartment developments, particularly in urban areas such as Guildford and Woking. Prices for apartments in Surrey range from around £200,000 to over £1 million.
- New-build developments: New-build developments are popular for investors looking for low-maintenance and energy-efficient properties. Surrey has a range of new-build developments available, particularly in urban areas such as Woking and Farnborough. Prices for new-build properties in Surrey range from around £200,000 to over £1 million.
Real Estate Market Trends in Surrey
The real estate market in Surrey has been performing strongly in recent years, with property prices rising steadily. Property prices in Surrey have increased by around 3% over the past year and by approximately 17% over the past five years.
Demand for property in Surrey remains high, particularly in popular areas such as Guildford, Woking, and Farnham. Properties in these areas tend to sell quickly and often receive multiple offers.
However, opportunities exist to find good value for money in up-and-coming areas such as Camberley and Redhill, where property prices remain relatively affordable.
Finding the Right Investment Property
Finding the right investment property in Surrey can take time and effort, particularly if you’re unfamiliar. Some of the best ways to find investment properties in Surrey include:
- Online property portals: Websites such as Rightmove and Zoopla are a great way to search for properties in Surrey. You can filter your search by location, price, and property type to find properties that match your criteria.
- Local estate agents: Local estate agents can provide valuable insight into the property market in Surrey and may have access to properties that still need to be added.
- Property auctions: Property auctions can be an excellent way to find investment properties in Surrey, particularly if you’re looking for a bargain. However, doing your research and setting a budget before bidding at an auction is essential.
Maximizing Your Return on Investment
To maximize your return on investment in Surrey, it’s important to consider rental income and potential capital growth. Some tips for maximizing your return on investment include:
- Choose the right location: Choosing an area in high demand can help attract tenants or buyers and increase your rental income and potential capital growth.
- Make improvements to the property: Making improvements to the property can help to increase its value and attract higher-paying tenants or buyers.
- Regularly review your rental income: Regularly reviewing your rental income can help ensure you’re charging market rates and not missing out on potential revenue.
Conclusion
No matter how you come into your financial gain, investing in property in Surrey can be a smart financial decision, thanks to the area’s strong economy, high quality of life, and excellent transport links. By taking the time to research your options and manage your investment effectively, you can maximize your financial windfall and enjoy the benefits of property ownership in one of the UK’s most desirable areas.
