ZARZA We are Zarza, the prestigious firm behind major projects in information technology.
Listen "The Hidden Costs of Property Investing"
Episode Synopsis
Shaz goes through the hidden costs of any property deal from costing the time to complete research to the legal fees and insurance needed
If you are new to property investing this is a great checklist that will mean you know exactly what costs to factor into your property purchase because the purchase cost is only a part of the overall picture and understanding the hidden costs is vital
KEY TAKEAWAYS
Factor in the time costs to complete thorough research for any property deal
Use the services of a property and building surveyor, where needed, to make sure you know what to expect
Work out stamp duty and land tax as these are payable on completion
Purchasing two or more properties may qualify for multiple dwellings relief
If the property is uninhabitable you may be able eligible to pay non-residential rates
You will need to make sure your insurances cover everything required, make sure you have adequate cover
Legal fees can vary but are part of the costs and payable on completion
Always allow for covering voids in rental properties
Use a separate account for taxes
Properties will need repairing and maintenance so keeping a fund available to cover this is crucial
The cost of the property is only part of the total budget you need to allow when doing a property deal
BEST MOMENTS
‘Researching is time well spent on property’
‘Some lenders may cover your legal fees’
‘If after purchasing you are using a management company this cost needs to be factored in’
VALUABLE RESOURCES
[email protected]
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultations he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of
income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on:
Facebook
LinkedIn
Instagram
YouTube.
If you are new to property investing this is a great checklist that will mean you know exactly what costs to factor into your property purchase because the purchase cost is only a part of the overall picture and understanding the hidden costs is vital
KEY TAKEAWAYS
Factor in the time costs to complete thorough research for any property deal
Use the services of a property and building surveyor, where needed, to make sure you know what to expect
Work out stamp duty and land tax as these are payable on completion
Purchasing two or more properties may qualify for multiple dwellings relief
If the property is uninhabitable you may be able eligible to pay non-residential rates
You will need to make sure your insurances cover everything required, make sure you have adequate cover
Legal fees can vary but are part of the costs and payable on completion
Always allow for covering voids in rental properties
Use a separate account for taxes
Properties will need repairing and maintenance so keeping a fund available to cover this is crucial
The cost of the property is only part of the total budget you need to allow when doing a property deal
BEST MOMENTS
‘Researching is time well spent on property’
‘Some lenders may cover your legal fees’
‘If after purchasing you are using a management company this cost needs to be factored in’
VALUABLE RESOURCES
[email protected]
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultations he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of
income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on:
YouTube.
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