Planning for the future and looking ahead is something we should all do. Whether it’s a plan for your retirement, for your children or for your company, having long term plans and goals is an important thing to consider. When looking far ahead, it’s worth thinking about investing as an option for your long term financial plans. Property investment is a lucrative and worthwhile strategy for long term savings, with monthly returns and potentially large profits when the time comes to sell.

When you are creating your financial plan for the future it is worth first making a current budget. Making a record of all your incomings and outgoings will let you see how much you could potentially save. Keeping on top of your finances is essential, especially when planning for a secure financial future. Look at what big expenses, like a new car, renovation work or a wedding, are going to have an impact on your finances and when you think they might happen.

Making sure you can afford to invest is imperative, but also keep in mind that you will be earning money during your investment too if you choose to purchase a buy to let property.  Be realistic about the type of property you can invest in. A city centre flat from RW Invest is a great, affordable option which can give returns of up to 9%. Make sure there is tenant demand in the area, that house prices are rising, and the average rent will easily cover your costs.

Property investment can be a sure way to start saving for your future. There are two main benefits to property investment. The first is rental income. If you are planning to invest in property, then purchasing buy to let property allows you to gain a monthly rental income from the residents of your property. This means you can budget these monthly returns into your financial plan.

In the UK, house price rises and increased living costs have meant that less people than ever are buying their own house, meaning more people are looking for rental property. The number of UK renters has been rising steadily for a number of years and a quarter of UK households are forecast to be living in private rental accommodation by 2021. This large number of people looking for rental accommodation has granted property investors a varied and constant tenant base.

There are some drawbacks to property investment that it is important to bear in mind. The process of selling a property can be long and expensive, so if you need to get your cash out of your investment quick, it’s not going to be an option. There are also certain fees and tax implications you need to consider, like ground rent for an apartment or stamp duty. However, the benefits of property investment far outweigh these, and if you find a property with high yields, the investment can pay for itself after a few years.

Property investment remains one of the most popular and trusted investment strategies. Property over time generally appreciates considerably, and this can make owning a property in a high growth area a smart investment for the future. Being able to hold on to a property while its value appreciates, and earning rental income at the same time is a profitable situation to aim for