Stamp duty on a £500,000 property would be £15,000, with the other costs coming to around £5,000 on average.
That means £27,900 being spent on transaction costs before repairs, renovation or new furniture is factored in.
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And just consider that there are people who pay those fees for an investment property, because they think the rental income and capital appreciation is worth it. They'd be so, SO MUCH better off just taking all that extra cash they have and save it in Bitcoin. No ridiculous fees and much more purchasing power gained, despite no yield.
From my pov, people who got in ‘early’ to the buy to rent game have done very well. Most RE investors I know don’t understand Bitcoin. This may change. We shall see!
