The 3rd Sunday Dream Home (SDH) sees us travel to the tropical waterfront of Miami, FL, with this $135mil, 11,855 sq ft architectural masterpiece. 13 beds, 18 baths, direct ocean views & the finest amenities the world has to offer. Your dream home? 🏠🔑

www.zillow.com/homedetails/...

2nd instillation of Sunday Dream Home is this spectacular $150,000,000 (🤯) 11,535 sq ft duplex penthouse in New York, where you can have a bath at 1,386 feet overlooking Central Park! 🤣 What would you change to make it your home?! 🏠

www.zillow.com/homedetails/...

10. Location, Location, Location: Always consider the location and market conditions. What adds value in one area might not in another, so research local house prices and buyer preferences, and seek advice from local agents.

9. Energy Efficiency: Improving your home's energy efficiency, such as adding insulation or upgrading to double-glazed windows, can make it more appealing to buyers and increase its value.

8. Smart Home Integration: Incorporating smart home technology can make your property more attractive to tech-savvy buyers and add value.

7. Adding an Extension: Whether it's a double-storey or single-storey extension, adding more square footage can increase your property's value by up to 20%.

6. Restoring Period Features: If your property has period features, restoring them can add up to 30% to its value. This includes fireplaces, cornices, original floorboards, and wooden beams.

5. Kitchen Renovations: A new kitchen can significantly boost your home's value. Updating worktops, cabinets, and flooring can add around £15,000 to the value of a property.

4. Garden Rooms: Adding a garden room can provide extra living space and add around £10,000 to the value of your property. It's a great way to extend your home without the need for planning permission.

3. Open Plan Living: Knocking down walls to create an open plan kitchen and dining area can add substantial value. It's not just about the added space, but also the modern, spacious feel it gives to the home.

2. Off-Street Parking: This can add significant value, especially in city locations. Buyers often see off-street parking as a must-have, and it can make or break a sale.

1. Loft Conversions: Adding an extra room in the loft can increase your home's value by up to 15%. It's a great way to create more living space, especially in urban areas where space is limited.

Development can certainly be another great avenue for additional income if you’re able to take a more hands-on approach! More skills, awareness and knowledge required for redevelopment projects, but that’s why there can be greater returns. Something I’ll certainly talk about more in the future.

14/ Questions about Buy-to-Let?

Drop them below, and I’ll do my best to help. Or share this thread with someone curious about property investing in property! 💬

13/ Thinking of Starting?

Here’s your to-do list:
1️⃣ Research target areas.
2️⃣ Use online tools (e.g., Rightmove, Zoopla) to assess property prices and rental yields.
3️⃣ Consult a mortgage broker and tax advisor for guidance.
4️⃣ Start small and scale as you gain confidence.

12/ Is BTL Still Worth It in 2024?

Despite taxes and regulations, BTL can still be profitable if approached strategically:
⁃Do thorough research.
⁃Run the numbers carefully.
⁃Plan for the long term.

It’s not a get-rich-quick scheme but a stable, long-term investment.

11/ Diversification

Instead of pouring all your resources into one property type, consider:
⁃Investing in different regions
⁃Exploring property types like HMOs (houses in multiple occupation) for higher rental yields.

This spreads your risk and can boost returns.

-Tenant problems: Non-payment or damage can be costly.
⁃Regulatory changes: Laws around energy efficiency (EPC ratings) and tenancy agreements are tightening.

10/ Risks to Watch Out For

BTL has its risks, including:
⁃Interest rate rises: Especially relevant now with rates climbing.
⁃Void periods: Keep a financial buffer for empty months.