Day: 11 March 2022

Whether you want to invest in property or save for retirement, there are plenty of pros and cons for each. If you’re unsure what’s best for you, this guide should help to give you a few handy tips to fit your circumstances.

Property – The Pros

If you find the right property then you could have a fixed income for life. Rental yields can be as high as 8% in some cities, and demand for rental properties is very high, especially in cities.

With demand often outstripping supply, there’s no reason why your property can’t remain permanently occupied if it’s in the right location.

Another advantage of a property vs a pension is that you can cash in at any time.

Of course, a property sale can take many months, and if you need the money by a certain point then you’ll need to plan ahead, but a property can essentially free up a large amount of cash relatively quickly.

Property is also generally considered to be a solid long-term investment. Although the market can fluctuate, house prices tend to go up over the long-term, so unless you’re in a position where you need to sell quickly and potentially make a loss, you can ride out any storms in the housing market to ensure that you sell for a tidy profit if and when you need to cash in

Property – The Cons

Owning a buy-to-let property isn’t as simple as buying a place, renting it out and watching the money roll in.

Although rental income can be quite lucrative, there are often lots of additional factors to consider, such as maintenance costs, letting agent fees, and landlord insurance, which can all eat away at your profit.

Void periods are another consideration you’ll need to think about, particularly if you’ve got a mortgage on the property, as a few months without tenants can quickly lead to significant extra costs.

Changes in government legislation in recent years have also made owning a second property far less profitable than it once was, with increased taxes affecting profit margins for landlords.

You should also bear in mind that being a landlord can be quite a hands-on role, even if you employ a letting agent or property management company to look after the property. Ultimately, things like repairs and maintenance costs will fall on your shoulders, and a lot of would-be landlords are surprised by the level of responsibility that comes with owning a buy-to-let.

Pensions – The Pros

Compared with property, a pension is usually a far more hands-off way to grow an investment. In many cases it’s as simple as putting money into a pension pot each month and watching it grow, and especially if you have a financial adviser that you can trust to manage your affairs.

After all, there are no tenants or maintenance repairs to think about when you compare it to a buy-to-let property for example.

Another major plus point for pensions is the fact they attract tax relief. So instead of seeing lots of your investment go into the government’s pocket, you’ll actually be benefiting personally, with pensions being the most efficient investments from a tax perspective.

Pensions – The Cons

The main downside to a pension is that you can’t access any of the money until you’re at least 55. However, as it’s an investment for your retirement, this shouldn’t be an issue, and in some ways, this can be a blessing, as it stops you from pulling the money out on a whim.

Another possible downside to a pension is the fact it’s invested in stocks and shares, meaning it could fluctuate. However, as with property, it tends to go up over time, and you have the option to decrease your risk if you wish to.

The Verdict

Ultimately, it comes down to personal circumstances to determine what’s right for you.

When it comes to tax benefits, pensions are the clear winner as they attract tax relief, whereas landlords have been hit with ever-increasing tax bills in recent years.

However, when it comes to growth, property fares better than pensions, with house prices reaching record highs in recently, especially in certain parts of the UK.

As with any investment, there’s risk involved with both options, and while property can be more lucrative if you find the right place, it’s also widely considered to be the more risky of the two options.

If you’re unsure how to invest your capital then it’s always a good idea to consult a financial adviser.

Have questions about investing in property or becoming a landlord?

MyHaus are your local property experts for the Brighton, Hove area, Call us on 01273 286788 or email info@myhausbrighton.co.uk to find out more about investing in Brighton, Hove.

 

Own a little piece of Brighton history.

Brighton is a town well-known for historical firsts, from hosting the 1974 Eurovision Song Contest where ABBA got their first win, to being the home of the UK’s first The Body Shop store.

But did you know that Brighton Girls School – formerly Brighton and Hove High School – was one of the first schools of its kind to open in England back in the 1800s?

This one-bedroom first floor apartment in Vernon Gardens actually formed part of the original school building, which was built in 1876.

Many of its original features still remain, including its stunning bow windows and the original staircase in the entrance hall.

Spanning almost 500sq ft, the apartment sits in just the right spot for frequenting local shops and 7 dials eateries within just a few minutes.

You won’t need to worry about any renovation work or redecorating, but the neutral décor throughout does work well as a blank canvas if you did want to add your own touches.

Entering the property, the hallway leads into a large open-plan kitchen/dining and living space, with year-round streams of sunlight thanks to the beautiful six-pane bow window.

The open plan space lends itself perfectly to entertaining. There’s plenty of room for seating in the living room, and the kitchen makes cooking a breeze with an integrated AEG oven, AEG microwave and ceramic four-ring hob. When the gathering is over, a dishwasher will make quick work of the washing up and your guests will leave happy after spending time with you around an impressive central island.

The double bedroom is also accessed from the hallway, and this room was originally used as a bedroom for the pupils of Brighton and Hove High School. Although there were fewer than 20 pupils in 1876 – now there are more than 600, so it’s not quite big enough to accommodate them all anymore! A double bed, bedside tables and double wardrobes fit in here comfortably with room to move. But if you would like some extra storage space, the bedroom benefits from a walk-in closet – perfect for all your clothing storage needs.

The en-suite bathroom is accessed through the bedroom and includes a WC and bath with an overhead shower unit.

This apartment is offered with a share of the freehold, a very rare thing, so we’re not expecting to hang around for long, so don’t delay. Call our office today to book your viewing before someone else snaps it up.

About the area

The city of Brighton needs little introduction – it’s one of the country’s most well-renowned and beloved seaside destinations.

But to live here in the city opens doors many tourists would never have the time to find. From eclectic Brighton-owned businesses, award-winning 7-dials restaurants and thriving arts and culture communities – there is something for everyone.

If you’re a regular commuter, this property is within ten minutes’ walking distance of Brighton railway station, with trains running to London in just under an hour.

Also within a short walking distance are some of Brighton’s most beautiful green spaces. St Ann’s Well Gardens, a tranquil space teeming with wildlife, are just five minutes away from this apartment.

And what would the summer months be without trips to the beach? Make the most of the sun right on your doorstep! You can reach Brighton seafront within 20 minutes’ walking time, stopping off for lunch in our bustling city centre on the way.

For more details, or to book a viewing please contact sole agents MyHaus Brighton..

Email us at info@myhausbrighton.co.uk or call us on 01273 286788

 

MyHaus Students are delighted to present this spacious, luxury studio in Falmer just a stones throw from the station, offering immaculately presented living accommodation and a spacious garden to use. The property is located in the perfect location for any single University of Sussex student, moments from Falmer Station, you are a minutes away from the University for your studies.

This delightful studio apartment has been extensively well kept by the owner with an emphasis on quality, including double glazing throughout, remote controlled blinds, Bose surround sound installed, ambient lighting, WIFI and hardwired internet as well as private entrance to the studio. Conveniently located just minutes from Falmer train station only 10 minutes to central Brighton. The accommodation comprises of a light-filled room with with kitchen facilities and separate bathroom with shower. Enjoy your morning coffee in the sunshine – with access to the shared garden and washing facilities. The landlord of the property lives on site.

Please note this accommodation is only suitable for a single student.

Call us today to book a viewing.

For more details, or to book a viewing please contact sole agents MyHaus Brighton..

Email us at info@myhausbrighton.co.uk or call us on 01273 286788.

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MyHaus Brighton are delighted to present this Studio flat offering high spec coastal living accommodation. The property is located in the highly sought after location of Montpelier, moments from Brighton seafront and the popular Seven Dials.

The property has a modern fitted kitchen with microwave combi – oven, gas central heating and modern bathroom. Every inch of this property has been styled to perfection and the modern fixtures and fittings are no exception, with no expense spared on the quality.

The property is walking distance from the bustling local shops and cafes around Seven Dials and you are only a short distance away from the beach and Brighton Town Centre. Sorry no pets

The property is available immediately and is offered unfurnished.

Parking Zone Z, Council Tax Band

For more details, or to book a viewing please contact sole agents MyHaus Brighton..

Email us at info@myhausbrighton.co.uk or call us on 01273 286788.