3 bedroom terrace house, Tilgate, Crawley
This 3 bedroom house in Tilgate, Crawley, popped on to the market yesterday with estate agents Moore & Partners. The Guide Prices starts at £260000. From the pictures the property looks to be in very good order and should make an ideal family home whether renting or buying. For more details have a look on Rightmove. Here’s the link: http://www.rightmove.co.uk/property-for-sale/property-49700830.html?premiumA=true.
Apparently there’s an open day on the 24th October, so if you’re interested give the agent a call and have a look round.
In the present market, houses like this one will usually rent for between £1150 pcm to £1250 pcm. If you could secure the house at the lower end of the guide price range, these rental figures translate into a gross yield of between 5.3% to to 5.8%. Pretty good !
Two things to bear in mind. If you’re an investor with nothing to sell and are willing to progress the sale quickly, this can be attractive to a vendor. The vendor could therefore consider an offer from you more favourably than someone else who is, for example, in a sales chain. The other point is that the lettings market usually goes fairly quiet over Christmas, not picking up again until late January /early February. As such, if you purchase the house and complete during the festive period, you may have a longer than usual void period i.e. when the property is without a tenant. Don’t panic (Captain Mainwaring !), however, as the lettings market normally picks up again at the end of January / beginning of February.
If you’re considering buying an investment property in Crawley or the surrounding towns, why not give us a call on 01293 515588. If you see a potential investment property through another agent, we’re more than happy to take a look ourselves on your behalf. We can then give you an unbiased opinion on whether the property represents a good investment or not. There’s no charge for this either ! Alternatively, drop us an e-mail to crawley@northwooduk.com.
The Crawley Property Blog 