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Here are answers to the Top Five Property questions we are asked on a daily basis, click on the questions for the top independent answers:-
1) Are property prices going to go up or down?
2) Do I need a survey when I buy a property?
3) How much do I need to invest in property?
4) How do I start researching self build? 
5) Should rental deposits be protected?
6) Should you DIY or get a professional in?
7) What returns can I get from property investment?

Question:- Are property prices going to go up or down?
The truth to this is that different property prices go up, down and stay the same at all times! Property prices go up when demand is high and supply short and go down when there are lots more properties for sale than there are buyers. Overall the long term trend in the UK is for property prices to increase as we have a short supply of properties, particularly one to three bed affordable homes in good locations.

Question:- Do I need a survey when I buy a property?
Yes! If you are buying a new build you need a Snagging Survey. If you are buying a home built after 1945 you will need a Homebuyer's Survey. If you are buying a home built before 1945 or of 'non standard' construction (or requiring renovation) then you need a Building Survey. Don't 'trade up' to one of these surveys from your lender's valuation as they are unlikely to take the time the property needs looking at as they have to reach tight deadlines to carry out valuations for the lender

Question:- How do I start researching self build?
The most important first step is to sort out your finances and budget, so visit an IFA who is experienced at self build mortgages. Then you need to look for places where you can afford to buy a plot of land that already has planning permission on it. You then need to look at self build kits to get some build costings. Once you have all that information you can start to see how practical on option self build is for your budget.

Question:- How much do I need to invest in property?
This depends on why you are investing and what you want to get out of it. To buy one property in the UK you will need around £30,000 for the deposit and buying costs. Be aware of any 'no money down' deals you see, they caused a lot of investors to go bust in 2008 as they over borrowed, bought badly and were forced to sell at a loss.

Question:- Should rental deposits be protected?
If you are a tenant you should never rent from a landlord unless they guarantee that your deposit will be protected by one of the Tenancy Deposit Protection Schemes. As a landlord you need to let the tenant know which company you protect their deposit with. If the deposit is not protected as a tenant you can take the landlord to Court and as a landlord you are likely to have to pay THREE TIMES the amount of the deposit BACK to the tenant! Not really worth it when you can protect deposits for free with the DPS.

Questions:- Should you DIY or get a professional in?
The first thing to think through when you are planning a property project is whether you want to get the professionals in or do it yourself. The latter might be an attractive idea at first, but some DIYers end up in hospital and many of those who don’t end up with jobs half finished! To carry out DIY work you need the following skills:-
1. Be able to read and follow instructions first time round and take accurate measurements. 
2. Evaluate the different structures around your property and assess what materials are required (for example partition vs brick wall).
3. Have an attention to detail and extreme patience to solve problems. 

Questions:- What returns can I get from property investment?
Returns from different property investments vary dramatically from a few percent to over 100% - and these returns depend on:-
1. The type of property investment
2. The length of time you invest in your property asset
3. Economic conditions such as population changes

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Remember:
If you want an independent answer to your property question, then visit our FAQs, search or just ask us, and we'll be able to answer any property questions. Still struggling? Then email us at: enquiries@designsonproperty.co.uk

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