Category Archives: Willenhall Landlords

Make buying your first home a reality in 2017

Is 2017 going to be the year you buy your first home? Whether it feels impossible or achievable, here are some simple, practical steps you can take to get that bit closer to becoming a home owner:

Investigate monthly outgoings – When saving for a deposit, every pound counts! Getting into good habits now will lead to increased levels of monthly savings, taking you closer and closer to your first home. Think about areas where you could be saving money, whether the amounts are small or large. Perhaps you’re not fully utilising that monthly magazine subscription or gym membership?

Keeping a record of your spending may help with this. Investigate regular costs and see if savings can be made on items such as food, clothing or entertainment.

Improve your credit rating – Consider setting up direct debits on any regular expenses such as credit cards and utility bills to improve your credit rating. Also, ensure you’re on the electoral roll too, as lenders may conduct these types of checks.

Set up a savings account – Putting away a fixed amount of money each month into a savings account where access to the account is restricted is a great, disciplined approach to saving that will help you build up the deposit you need more quickly.

Get the mortgage that suits you best – There are so many mortgage products and deals on the market that it’s worth thinking very carefully about what will suit you best. Think about how long you may want to live in your property and whether a fixed or variable rate mortgage will work for you. With interest rates being low, it may be worth considering a remortgage in a few years’ time. If mortgages leave you feeling confused, it’s well worth speaking to a mortgage advisor and family, friends and relatives about their own experiences.

At Redstones, we appreciate that this is a lot for you to consider and plan for. We’re therefore always keen to advise first-time buyers any way we can. Whether you’re looking to buy or rent right now, find out what Redstones can offer.

Redstones West Midlands House Head Office

Centre of Operations

This new office will be the centre of operations for the companies expanding lettings and estate agency franchise, as well as serving landlords, tenants and property sellers and buyers in the Willenhall and Walsall areas.

Manjit Virdi, founder and Managing Director of Redstones, said, “It is an exciting time for our company. As well as moving to our new Willenhall base, we will be revamping our website and online presence. We feel we can utilise our online platform to spread the reach of our service, and give an even more cost-effective service to our customers.”

“We have continually sought to be innovators in the UK property letting and management industry. Our Platinum Total Care Service, which guarantees rental income to landlords, and our Easy Switch Agents Scheme are two examples of that innovative spirit. 2017 promises to be our best year, and I am excited at what we will be delivering for our customers.”

Redstones services include residential sales, lettings, and property management. The nature of the property market is developing, with over 80% of all property searches now carried out online. Redstones utilises this to present property in the best manner, including 3D floor plans, providing a  “walk through” experience.

Whilst fully embracing the internet, and the latest technology, Manjit Virdi feels Redstones have a particular advantage in the property industry. “We never forget that this business is about people,” he says. “Although we may be dealing with bricks and mortar, at the end of the day we are helping people. That may be taking the pressure off a property owner by managing their property and tenants, or getting the best possible price for someone selling their property.”

“Our people make the difference too. We call ourselves the ‘local’ property experts, and the knowledge we have of our communities and the local property markets, means we can add extra value for our customers, that some of the big box agents struggle with.”

Redstones Lettings

Maximising your property portfolio

For landlords, we always advise that a diverse investment portfolio that takes into account your lifestyle requirements, age and risk profile, as well as contrasting which investments are likely to yield the highest returns are central to an effective investment strategy.

Property is a great option for investment, especially when you consider that interest rates are currently far below 1%. The time is now to consider adding property, or further property, to your portfolio.

Diversifying is so important because when it comes to property investment, it makes sense to avoid putting all your eggs in one basket should something unpredictable occur in regards to a particular investment.

There are many factors that will determine what sort of investment is right for you, such as whether you require income or capital growth, long or short term investment or how hands on you want to be. Also, do you want your money back quickly?

Diversifying by location is another way to diversify your property portfolio, although some argue that specialising in certain areas provides greater expertise and better results. Always conduct extensive research and target areas where property prices will grow due to their good location or through new businesses opening in the area.

Of course, risk and affordability is key. If you feel that your investment will become less profitable, always get out when you can.

Another consideration is how hands on you want to be when it comes to property management. At Redstones, your time is precious to us and we take all the hassle out of property management for landlords, whilst helping to advise on your next property investment.

In conclusion, diversifying your property portfolio is certainly an attractive course of action and Redstones are here to help you make your property investment ambitions a reality.