Property can be one of the best investments you can ever make. However, if you are going to be successful, you need to know what you are doing. This article contains useful tips and information to help you become a discerning investor.

1. Find out the true worth of the property. Ask your estate agent for a list of similar properties in the same area and compare the asking prices. You can also ask for a list of recent selling prices in the area, and then compare this to the asking price.

2. Don’t just look around your local area. It is highly likely that you can earn a greater return elsewhere. Professional investors own properties all across the country, and often all over the world.

3. Decide whether you want to buy to let or sell before you purchase the property. That way, you can start to find prospective tenants or buyers sooner.

4. Know what you want. If you have some idea of the kind of property you intend to buy it will make your search much easier.

5. Check out the location. If you are planning on buying a property in an area where hardly any houses have been sold or let in the past year, it is unlikely you will get a good return.

6. Once you have a property in mind, arrange a viewing. Bring along someone who can advise you on aspects of the property that may need additional investment. For example, an outdated electrical system may need rewiring.

7. Once you have had the property fully surveyed and are sure you know of any defects, evaluate whether or not you can afford to pay for the work to be done. You can’t rent out a house that is not proven to be safe to live in.

8. Make sure you have enough money saved back in case there is an unexpected problem with the property if you are planning on buying to let.

9. Write a business plan. If you plan out what you are going to spend where, and how long you are going to take to perform certain tasks, your life will be a lot easier when it comes to doing up the property.

10. Identify the least expensive improvements that add the most value to the property! Even simple things like repainting a few rooms can add value to a house, so don’t overlook anything.

]]> http://approval.co.uk/2009/07/top-10-tips-for-investing-in-property/feed/ 2 http://approval.co.uk/2009/07/buying-a-more-fuel-efficient-car/ http://approval.co.uk/2009/07/buying-a-more-fuel-efficient-car/#comments Fri, 17 Jul 2009 13:42:53 +0000 admin http://approval.co.uk/?p=13

It is no secret that some cars are much more fuel efficient than others. If are looking to buy a new car and want one that will cost less to run, there are several factors to consider. Probably the most important is the MPG listed by the manufacturer. MPG stands for “miles per gallon” and is the official rating of how far your car can travel per gallon of fuel. A typical SUV will have an MPG score of around 9 to 18. Fuel efficient hybrid cars such as the Toyota Prius can have MPGs of up to 60. The higher the MPG, the more efficient the car is. Once you have looked at the MPGs of various cars, consider the size and weight of each. The heavier the car, the more fuel it uses. You may also want to take the type of fuel into consideration. Cars that run on diesel tend to have a higher MPG than petrol cars, up to 25% higher than the petrol equivalent in some cases. Cars that run partly on electricity are even more efficient. A full hybrid like the Toyota Prius can run on electric motors up to speeds of around 30mph, and above that uses conventional fuel, supported by electricity. A car like this will save you money as well as helping save the environment. Finally, have a think about which options you want your car to be equipped with. Most new cars come with air conditioning, but if you don’t really need it, leave it out or keep it turned off to increase efficiency by up to 4MPG. Sunroofs can add drag to the car when they are open, which means more fuel will be used up. If you really need a sunroof, leave it shut as much as possible. Overall, the best way to go when buying an efficient car is probably to look into hybrids. Speak to your local dealer and see what they have to offer.

Solar power, or, to give it its proper name, photovoltaics, is a quickly expanding industry, due to the demand for “green” energy. There are a great many benefits to using solar power over conventional means of electricity production. The most obvious of these benefits may be the fact that solar power produces absolutely no pollution during use. Add to this the fact that after your initial investment you can just sit back and watch as you save thousands on electricity and heating bills and you will soon start to realise just how good solar power can be for you. These are not the only benefits of solar power. Imagine you were having a garden party late into the night and wanted some lights to brighten it up. Having trailing wires all across the garden would be a safety hazard, not to mention the time and effort taken to untangle them all at the end of the night! Solar power would remove this problem entirely, as devices that run off photovoltaics have no need for power cables. Still not convinced? The list of benefits goes on. With solar power, you no longer depend on any energy source other than the sun. As the price of electricity continues to rise, you will be paying nothing as photovoltaic systems require very little maintenance and have no ongoing costs after installation. Have you ever been inconvenienced when there is a power cut? With solar power, there is no chance of this ever happening again! If all of this is not enough to illustrate how beneficial solar power can really be, consider the fact that the government will even offer grants to help you pay the installation fee for a home solar power system, so overall it is a very small price to pay to help save the planet.

There are a great many benefits to installing a home wind turbine. Perhaps most obvious is the fact that you are helping the environment by not using any conventional electricity, which is produced in manners that damage the planet. Because wind turbines generate power solely from wind, you are harnessing a powerful, renewable energy source that is never going to run out. You will be saving the planet in another way too. Wind turbines significantly reduce carbon dioxide emissions, which helps to slow down global warming. Even a low power home system can save up to 2 tonnes of carbon dioxide! With a wind turbine you will never again be hit by increases in electricity prices, because wind is free! You can even sell some of the energy that your turbine produces back to power companies, so you are actually earning money as well as just saving it! There is no need to worry about what happens when there is no wind. Most turbines are connected to the main power grid so you can still get electricity from there if you need it on a calm day. Turbines are designed to be long-lasting pieces of equipment and therefore have low maintenance costs and do not need to be regularly replaced. Many turbines are built to last for more than 20 years. Another benefit of this is the fact that you are making a long-term addition to your home. If you decide to move out years after first installing the turbine, the value of your home can be increased because of the “green” credentials the turbine gives the property. Finally, the government will usually pay you a grant to help out with the installation fees for your new turbine, so you don’t even have to worry about the initial investment. Just sit back and watch your savings!

It is a hard fact that if you drive more carefully, you will save money. Gentle acceleration and keeping within speed limits can save you as much as 360 litres of fuel every year! There are other steps you can take to further reduce your annual expenditure on fuel. Regularly check your tyre pressure, and keep them properly inflated. Not only will this make your car safer to drive, but it will save you money! About 90 litres of fuel a year, for that matter. Now, if you are not sure what to make of these numbers, consider the fact that petrol costs, on average, £1.00 per litre, and you already have a saving of £450, just for not speeding and inflating your tyres every now and then! Let’s look at some more ways of driving carefully, besides not speeding. The most efficient speed at which to drive is officially 52mph. This is the speed at which the car burns the least fuel per mile travelled. On roads where you can legally drive at this speed, you will save money by cruising around this speed. Another method is to brake sooner than usual and decelerate more steadily, instead of stopping hard at the last minute. Because your foot is no longer on the accelerator, less fuel will be burned, conserving your fuel and saving you money again! The last tip may seem one of the most obvious. If you use your car less, you are going to save money. You could walk short journeys, and if you have a bicycle, use it for short or even longer journeys! Another option could be to use public transport for journeys that you make regularly, such as the trip to work and back. Overall, it is clear that driving sensibly will save you money, and you should see those savings almost instantly!