£200k property investment - wwyd?

[Changernamerjoker]

Can buy a £200k - £250k buy to let mortgage free.

Thinking manchester flat (2bed) longer term
Let. Idea behind this is the north will start to
Boom property price wise so can sell in 15 years and make some good money.

Or

Or Cornish holiday let. Better yield but less price growth is our thinking?

What would you do?

Depends what you want.

I'd go for Manchester personally.

Have you worked out profits after taxation of related earnings, maintenance and service charges, and finally CGT when you come to sell.
There are better more tax efficient ways to invest without the hassle of a rental.
Stocks and shares ISA, pensions.

I think Manchester has already seen a significant boom tbh

Given that recession is being widely predicted I wouldn’t bank on a boom in prices anywhere

Buy to let is not going to get you as good a return on investment than a reasonably aggressively managed share portfolio. And I say that as a landlord with several properties! The tax regime is no longer as favourable to landlords, uncertain economic situation means tenants are more frequently unable to pay rent, and it is (rightly) difficult to evict

The Manchester flat market is very wobbly IMO. The city has a history of overdevelopment -- it happened in the late 90s/early 2000s and it's been happening again recently. Too many identical two-bedroom flats with no distinguishing features, flogged off to naive investors who don't know the city well enough. I'm from Manchester; I know people who have only just pulled out of negative equity on flats they bought in 2002.

I agree with VanCleef, I would look away from property to be honest.

I wouldn’t invest in property at the moment, maybe look at Fundsmith.

But if I did, I’d be thinking about climate change and I’d go for somewhere that’s currently cheap but which would be significantly nicer if it was warmer and that is uphill and definitely nowhere near a flood plain or stream or any kind. Maybe uphill in Scotland.

@saleorbouy

Have you worked out profits after taxation of related earnings, maintenance and service charges, and finally CGT when you come to sell. There are better more tax efficient ways to invest without the hassle of a rental. Stocks and shares ISA, pensions.

Pension? Better and more tax efficient form of investment?!

There are absolutely masses of new blocks of flats being built in Manchester and Salford. I would be terrified of owning one. I would invest it in stocks and shares.