Join the small developers enjoying big success
More humble developers are conquering the property market one house at a time and with Viewber in your corner, you too can lessen risk by sending a local Viewber to compile a pre-purchase report on your behalf.
We’re all familiar with the idea of buying a ‘do-er upper’ on the cheap and transforming it into a dream home for the family, but there’s a growing army of small-scale developers and one-man bands who are in the market for property development projects. Are you one of them?
Whether you have been inspired watching Homes Under The Hammer, where the auction rooms always teem with investors and developers – or have been searching on social media for ideas and advice, it appears everyone wants a property as a business project. But is it a good time, or market, to be dipping your toes into development?
Confidence in property investment
Despite unusual circumstances, 10% of landlords plan to purchase more properties now (November 2020) to expand their portfolio, compared to just 3% at the end of 2019, according to Simply Business. The stamp duty holiday – which makes buying an additional property thousands of pounds cheaper – is partly behind the confidence surge and there’s obviously a push to purchase before the SDLT completion deadline on 31st March 2021.
HMO, BtL, flip or holiday let?
Your time available, budget, local market and attitude to risk will determine what developer activity you take on. A HMO – a house in multiple occupation, such as student digs or a professional house share – is often a developer’s nirvana as they can buy a big property and carve it up into more rooms to maximize their yield. A HMO is, however, the most involved project, with extra compliance and maintenance.
A straight-forward buy-to-let is often quicker and simpler to get off the ground, with only some simple modernisaton works or even just light DIY required to get a property ready. Holiday lets are also gaining ground thanks to prevailing uncertainty over international travel. They are a feasible development option even if you don’t live in the location, thanks to remote service suppliers, such as Viewber.
Flipping a property – when you buy a wreck, add value by refurbishing it and sell it on quickly without ever moving in – can be financially rewarding if you’ve worked out the figures properly, taking into account estate agent fees and stamp duty.
Find your inspiration on Instagram
There’s a whole small-scale developer sub culture over on Instagram. Take for instance @zuwin_properties. It’s involved in buy-to-let, HMOs and flipping, and will invest across the UK if the prospects are right. If they can’t get to a property for sale and think it doesn’t need much structural work to get it up to scratch, they book a Viewber to compile a report and take photographs so they can make informed decisions from afar. Zuwin’s growing Insta grid is worth a browse, showing how hard work can pay off.
While you’re on Instagram, search #propertydeveloperlife, #propertydeveloperjournal #propertydeveloperdiary and #propertydevelopersuccess, and admire the handiwork of some of the UK’s most determined small developers, part-timers and amateur investors.
We particularly love...
Nichol Smith - @nicholsmithinvestments
Rob & Sarah Hodge - @maygreeninvestments
Kath Gibb - @anetoproperties
Mike Aspinall - @mike_aspinall1
Emma Fielding - @emma_property_builds
Damian Murray - @iamdamianmurray
Book a Viewber visit today!
If you’d like to explore the world of property development, lessen the risk by booking a Viewber to undertake an initial property appraisal before you make an offer. We can visit any UK property for sale to compile an impartial report, backed up with photographs and videos, where required. Contact us to book a single or block of visits.