Can you still make money on property? The answer is yes you certainly can if you happen to buy and sell at the right time. Since the pandemic began, there is much uncertainty as to what is going to happen in terms of the housing market. Some people have predicted that levels may crash again whereas others think that they will slowly start to climb and now is a good time to buy. When buying property, you need to be able to plan for all eventuality’s. Many people that bought their homes in 2007 didn’t realise that the following year house prices would plummet leaving millions of people in negative equity. If you were able to continue living in your home then you may of now recovered from that or if you happened to be able to buy in 2008 then you have probably made a fair amount of money.
Before investing in a house, you need to think what you are going to do with it. Do you want to rent it out or do you want to sell it on again? Lots of investors buy houses that need work doing to them. They then do them up and sell them on to make a quick profit. If you do not need to get your money back quickly then you may instead choose to rent it out and have a steady monthly income, although this does carry more risks with it.