The study, which questioned 500 landlords from around the UK, found that buy-to-letters are building up substantial nest-eggs for the future. Of those surveyed, 21% per cent said they earn between £200 and £500 more than their mortgage commitments each month. While almost one in ten earn £1,000 more each month.
With new entrants to the buy-to-let market reaching 700,000 in 2005 and figures forecast to continue rising, Standard Life Bank says it’s essential for would-be landlords to stay one step ahead of the market to make the most of their investment.
Meanwhile, a separate report has revealed Britain’s savvy renovators look to add not only space but value to their homes.
The UK’s home improvement market is worth an estimated £34 billion, and is thriving thanks to an emerging breed of Grand Designers who have set their sights on boosting both the lifestyle appeal and price tag of their properties.
Standard Life Bank’s Future of Homes report found that these savvy renovators are making increasingly imaginative additions to their homes, and rather than just adding extra space, they’re boosting the lifestyle appeal of their properties.
The report found 38 per cent believed the addition of a work-life space, such as a home office would enhance the value of a property. More than a quarter (29 per cent) felt a home spa would boost the price tag, followed by a home gym (11 per cent) and wine cellar (10 per cent).
