1 Bedroom Maisonette, Tolgate Hill, Crawley
Happy Valentine’s day ! ♥
To celebrate here’s a 1 bedroom maisonette on with Astons estate agents at £129950 in Tolgate Hill, Crawley. Unfortunately, there are no internal pictures, but here’s the Rightmove link if want further details. http://www.rightmove.co.uk/property-for-sale/property-52995727.html
According to Astons marketing literature the property is being marketed to INVESTORS ONLY as there is a tenant in-situ, currently paying rent of £675pcm. If you consider purchasing this property together with the tenant, the “usual rules” apply – check that rental payments have been made on time and that the property is being looked after well. In addition, make sure you remember to ask about any outstanding maintenance issues. If there are any that are unresolved, our advice would be to insist that they are fixed before you complete on the purchase.
So what about the rental yield ?
Well, based on the purchase price & stated rent, the gross rental yield would be 6.2%, which is very healthy indeed for the Crawley market.
If you’re looking to beat the stamp duty threshold hike and purchase this property before April, you’d better get your skates on ! Having said that, please make sure that do all of the necessary due diligence before committing to buy the property. As someone once, “Act in haste, repent at your leisure” !
If you’re looking to invest in the Crawley property market and would like some advice on what and where to buy, please give us a call on 01293 515588. Our advice is free and we’d love to hear from you. Alternatively, you can drop us an e-mail to crawley@northwooduk.com.
We’ve recently published our February issue of the Crawley Property Update. In this issue we look at the performance of the Crawley property market over 2015, compare the relative performance of flats in Redhill & Crawley and also look at how to target your investment property to maximise its’ potential. If you’d like a copy of the Crawley Property Update, then give us a call or e-mail us your request. As with our advice, the Update is free !
The opinions expressed in this article are those of the author only and not of Northwood. If you are considering investing in property, please make sure that you seek appropriate professional advice.
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