YES!
that is what everyone would suggest you do right!
as lucrative as it may be, lets look at what kind of caution to keep in mind if you will be buying on a Mortgage i.e lending from a financial institution
1 Keep in mind who you are paying, for example, lawyers, estate agents, removal
firms, furniture companies, utility companies, surveyors,
architects, developers. There
will be taxes to pay when you buy and when you sell, as well
as on an ongoing basis: local taxes such as council tax have to
be paid all the time and income tax will have to be paid on
any income received from renting or leasing a property.
2 All mortgages and loans to buy property have to be paid back
with interest, usually over many years. The longer the term,
the less the interest appears to be, but the more money, in fact,
will have to be repaid.
3 The only certainties in property are what you buy the place
for and what you sell it for. All projections of capital growth
are exactly the same as betting on a horse. You can shorten the
odds by studying form but you can never be sure your horse
will romp home first. Anything can happen with property, as
with any other investment, so wishful thinking should never
play a part.
4 The purchase price and the selling price of any property are
only part of the story. You have to factor in how much it costs
you to make the purchase and how much it costs you to sell it,
as well as how much it costs you to maintain it while it is in
your ownership.
5 When it comes to renting, whether holiday lets or homes,
certain inescapable factors apply. One is that, in most areas,
people renting are on a certain salary and cannot pay more
than a certain amount in rent. The people at the top of the
pyramid who can pay more or less anything are in very short
supply and will only ever go for the highest-end places. This
also applies to holiday lets. Even if there is a dire shortage of
properties to rent in a certain area, rentals will never go up to
more than the average person can afford to pay. Often it’s not
even a matter of competition, simply a fact of what people can afford
In a recession, one of the first things people cut back
on is holidays, which are not an essential expense
Now these are by no means a blocker to property investment, if you are buying cash most of these issues can be avoided, get as much info as you can especially if you are a beginner. you will thank yourself and me of course that you did :)