We advise you on making money when you are out of work.
The property market is booming in the South of England, and further north as well. This will not last forever. At some point, i.e. when the recovery starts and interest rates rise, property prices, especially in the south, are going to turn downwards.
What can the people who are out of work do about this in terms of benefitting and making money? Well, if they are out of work, there is no reason that they need to continue living where they are currently.
If you are out of work, it might be an idea to sell your house in the South of England. Buy one in Scotland (outside Edinburgh or Glasgow) where the prices haven’t gone up by much so far. It’s a good way of making money.
Buy Value Property
If you had a property worth, say, 400 grand, you might save yourself a drop to 350 grand. You could buy one in Scotland for 400 grand. If you bought in Scotland, you might find, in the next year, that it had increased to 500K. This would mean that you are net 100K richer (less costs).
You would get a fantastic house in Scotland for 400K. Also, your wealth would increase by more than you would earn contracting (without the tax), whilst doing nothing (except a spot of salmon fishing).
Making Money from your House
You would make £100,000 on the house and saved yourself a loss of £50,000 on your previous property. Isn’t that a good way of making money? That’s as while having a holiday in Scotland for a year
When the market picks up next year, sell your house in Scotland and come back south. You would pick up a better house / flat than you had before.
Wouldn’t it be nice to breeze back down to the South of England and back to work after a nice year off, whilst your house in Scotland appreciated, and your house / flat back in the South depreciated?
To assist in this here is how to get in touch with a Specialist Contractor MortgagesÂ Broker