. . . It’s just not for the faint-hearted

NOT even a pandemic can cool Britain’s love affair with bricks and mortar.

If you believe even half of what estate agents say, we are in the midst of a mini housing market boom as buyers look to cash in on the stamp duty cut.

Not content with one property, many dream of building an empire — perhaps starting with a house for the children to live in while at university.

The idea is that the rent keeps the place ticking over, while house price growth will provide a nice little nest egg for the future. But when George Osborne waged war on second homeowners in 2016, it meant the end of the buy-to-let gravy train for many wannabe amateur landlords who do not have the expertise or extra cash now needed to invest.

The recent stamp duty cut is the first glimmer of hope for those set on becoming second-home owners. But buyer beware. You will still have to pay some stamp duty and your profits will be hampered after generous tax perks were whittled away.

With unemployment predicted to hit four million by the end of the year, you must also be sure your finances could take the hit if your tenants suddenly can’t pay the rent. The future of house prices is also uncertain. And even if they do stabilise, it’s unlikely you’ll benefit from the same meteoric rise as we’ve seen in recent decades.

Far from being an easy money-spinner, a buy-to-let business can also be hard work. If you don’t live near your second home or have a demanding job, you’ll need to hire a managing agent to find tenants and handle broken boilers — which could wipe out your profits.

You also need to be sure you won’t suddenly need easy access to your cash as there is no guarantee you’ll be able to sell quickly.

So while there is money to be made from property investing — it’s just not for the faint-hearted.