THE FULL PROPERTY RESOURCE FOR BUYERS AND SELLERS, LANDLORDS AND DEVELOPERS

Matthew Cullum marketing blog will seek to explain the key differences between the asset classes in the property industry including buy to let, property development, commercial property, retail human more. The many differences between these asset classes are effectively the differing methods from which she would purchase and search these properties and also includes key facts relating to taxing of these asset classes and the ways in which she would save money at the end. For example commercial property will be taxed at a different rate and also retail property would be taxed at a different rate to residential property.

The retail property industry include such things as shops and supermarkets and all other types of retail units. Commercial property can include warehouses, hybrid business units, office space and more. Following on from the COVID-19 epidemic it would seem that commercial property including offices and warehouses may be a risk to add to your portfolio at the moment however you would be looking at achieving a much cheaper purchase price which is always a good thing. However the long-term outlook in the next 2 to 3 years could be bleak and potentially you would want to have a look at development rather than Commercial.

I residential property can be profitable however in the buy to let space the government has squeezed buy to let investors with many taxes and increased rates and even now they are looking to increase the rate of capital gains tax on on second homes. It would seem the asset class that the government want to see increased is the building of the new residential houses and there are plenty of further benefits and tax advantages as well as the help to buy scheme which would encourage developers to take advantage of these. Development always yield is the most profit when things go well and it's always a good asset class to learn and increase as you start to build your portfolio. However there are many pitfalls particularly when you use contractors rather than undertaking the building yourself. The contractor route can be a risky business and you should always thoroughly research the company is that you go with, for instance it's believed that rates can be as high as for 30 to 40% in terms of build costs if you go with the contractor and it's always best to build your own team however many people do not have the expertise for this.

I'm in the building industry there can be many ways to get fleeced and the building costs can dramatically increase over and above the budgeted amount. It's always best to deal with people that you know all that you've had have a good reputation is online. The Matthew Cullum property blog always advises to thoroughly research the building company you propose to use and to always have a contract with fixed rates in them. A fixed rate contract will avoid the main issue of going over budget and these discrepancies can be negotiated prior to a built. We would always recommend to speak to a solicitor so that all of the ins and outs can be negotiated prior to the build and you should put the onus on the property developer and property building company to come in at or under budget.