I had a landlord come in to see me yesterday asking me what type of property he should be buying for his next buy-to-let. Whilst going through the property websites, I spotted this one and thought I would share it with you all.
It’s on the older part of Chelmer Village, in a lovely spot overlooking a green. It may not have the most modern of kitchens fitted, but it looks perfectly functional, it’s not so dated that you would feel like you are living in the past! I have seen a glimpse of patterned wallpaper in one of the pictures, so you may need to give it a once over with some magnolia.
This house is on the market for £196,995, I’m sure you could negotiate the price a little bit, (I wouldn’t expect thousands off though, houses are selling very near their asking prices at the moment!) I would expect this to rent for at least £850, maybe even £875. So airing on the optimistic side, you could expect a gross yield of 5.3%. Not too bad, especially as you don;t have to worry about block management charges etc which you would with a flat!.
If you would like any advice on where (or where not) to buy, feel free to give me a call or drop me an e-mail stephen.frost@martinco.com
