Three Bedroom House, Ifield, Crawley
Some property investors are concerned about buying leasehold properties. They’re worried, for example, about the maintenance charges levied by the freeholder, what happens to the communal areas in the case of flats etc.. etc….
Investing in leasehold properties is fine in our opinion. However, freehold properties are equally as good. So, if you feel happier owning the freehold, why make life more difficult for yourself by buying leasehold ! ?
So, here’s a potential freehold investment property. It is a 3 bed terraced house in Ifield, Crawley, close to Ifield train station. In good condition, these types of properties will normally rent for upwards of £1200pcm. This property is marketed by King & Chasemore, Crawley, with a guide price of £270 000. For more details, here’s the Rigtmove link: http://www.rightmove.co.uk/property-for-sale/property-54774053.html
From the marketing photos the property looks in good condition (but do please check !) and has a garage en bloc. There are also local schools close by, which brings us nicely on to the subject of the type of potential tenants properties like this will tend to attract. Any guesses ?
If marketed in the right way a property like this 3 bedroom house will, of course, attract families. Proximity to schools is very often a major consideration for these types of tenants and this property has both primary & secondary schools close by. If you’d like to know more about letting these types of properties – both pros & cons – we have a free guide to help you. Just send us an e-mail and we’ll forward it on.
Back to the figures…what about the yield ?
Well, based on the guide price and a rental figure of around £1200 pcm, you would expect a maximum gross annual yield of 5.3 %. With a bit of tough negotiation, however, you might be able to get a price reduction & improve the yield figures. As estate agents ourselves we can give a bit of “inside information” – strictly legal of course ! – about presenting any offer you care to make in the best possible light. Just let us know and we’ll forward the information to you.
If you’re looking for property investments in and around Crawley, or would like a an independent opinion on a property you have your eye on or are buying through another agent, why not give us a call. We’re on 01293 515588. You can also e-mail us on crawley@northwooduk.com.
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