Downsizing Causing Housing Market to Stall
The increase in the number of baby-boomers that are looking to downsize to more affordable and more manageable properties have caused the housing market to stall according to property website Rightmove. This means that lower value homes are likely to be snapped up while a mass of higher value, large family homes will become available. For property investors with lower value homes this could mean very strong profit potential.
According to Rightmove, one of the Internet’s leading property websites, 40% of sellers questioned said that they were looking to move into a smaller property and only 25% of sellers said that they were looking to move to a larger property. Another option for those looking to cash in on real estate investments is to rent out their property and wait for further movements in the property market. If you are thinking of renting out your property and becoming a landlord, check that your mortgage lender approves of you renting your property out, and you will also need to ensure that you have the appropriate landlords insurance to protect your investment.
The Insurance Octopus provides access to a range of commercial insurance policies and bespoke landlords insurance options to ensure your property is covered. Call us today and speak to one of our professional, helpful specialists to receive accurate information and to request a quote for cheap landlord’s insurance.