I know location is very important when you are looking for an investment property as you need to make sure it is in a desirable area to ensure it is easy to let.You tend to find though, the properties that are not in as nice an area can be cheaper to buy, but the rental prices are not that much lower, therefore this means you could end up with a healthy return on your investment
When I was looking through Rightmove this morning, I saw this little number and thought I would throw it out there for you to see. I know the area is not everyone’s cup of tea, how many times have I heard ‘Anywhere but Melbourne!’ But every time we get a property on in that area, we never have a problem finding a tenant.
This property would probably rent out in the region of £895 pcm, which when you compare it against it’s asking price of £199,995, would generate you an annual return of 5.3%. A similar sized house in say the Old Moulsham area, would probably cost you 30k extra and only generate you a 4.5% – 4.8% return.
If you have any questions about buying to let, plaase do not hesitate to give me a call 01245 330500