Can anyone help i thinking of buying a new build flat 2 make fast profit but with the way things are going ?

Question

Can anyone help i thinking of buying a new build flat 2 make fast profit but with the way things are going ?

Answer 1

Hi there, I'm Will and I'm fifteen years old. I take an interest in property and are currently saving for my first house. Buying a property to develop and improve is almost always a great way of making a fast profit when the right routes are taken, the first, buying a cheap property with plenty of potential to be attractive to your target user, either a family or students etc. The second; being doing any improvements to the house as well but as cheaply as possible in order to make a reasonable profit. Yes i agree it is a bit "hmm" when thinking about buying a property during the recession we have just entered. My best advice to you is wait until we get slightly further into recession when properties decrease in value. Then would be the time to buy, as obviously you will get more property for your money and also make a larger long term profit as houses will always regain there original value before the decrease, and increase further in value.

I hope this advice has been of some use to you and look forward to you replying to me telling me whether or not my advice has been of use to you. PS I did hear on the news and read in the Financial Times that by 2012, properties in England will increase by fifty percent of there current value, so you cant really go far wrong with property. x

Answer 2

If the recession kicks in, it will be a great time to buy up a cheap property, as long s it is a first time buyer property. It might be worth waiting a little bit and seeing how the economy goes. You can always talk to an independent financial advisor, as long as there isn't anything in it for them, they should advise.

Answer 3

Prices are down, so it's a good time to buy.

Prices are down, so it's a bad time to sell.

How do you intend  "2 make fast profit" in this market buying  newly built property?