2 Bedroom House, Cottesmore Green, Broadfield, Crawley

Here’s a presentable 2 bedroom terraced house that has just come on to the market with estate agents Connect UK at £215000. From a quick scan of the marketing photos we would say that the property may well be empty – not much on the kitchen worktop & the fridge/freezer plug looks as though it’s been pulled out. Take a closer look and decide for yourself –  here’s the Rightmove link http://www.rightmove.co.uk/property-for-sale/property-39735858.html

If the property is empty and there is a mortgage to pay, the seller may well be flexible with the asking price. So if you’re in a strong position with your finances arranged, don’t be frightened to use your bargaining position to negotiate a favourable deal.

There are two other pieces of useful information to consider about this property.

Firstly, the details say there is no onward chain. This could help you by potentially speeding up the sales process. If you can complete on the purchase before the start of April you won’t be liable for the additional 3% stamp duty charge the chancellor is bringing in for the purchase of second properties.

The second piece of information is that this property is not a leasehold flat ! We know that’s obvious just from the picture, but the buying process for flats tends to be more protracted than for freehold houses. The reason for this is that as part of the sales process, management information from the freeholder’s agents will have to be obtained. This can add weeks on to the length of time between an offer being accepted and completion taking place. So if you’re in a hurry (to beat the April deadline), buying a house rather than a flat would seem a sensible option, given the choice.

So what about the rental yield ?

Two bedroom properties like this rent from around £900 pcm upwards. In fact a similar property just around the corner in Jersey Rd was advertised at £1000pcm and has recently been let. Of course, as with property sales, the advertised & agreed rental prices may differ.

However, based on rents ranging from £900pcm to £1000pcm, together with the advertised sale price of £215000, the gross rental yield would range from 5.0% to 5.6%. So quite a good yield for the Crawley market. As always, if you can negotiate a price reduction, your yield will increase. Over to you if you’re interested.

If you’re a potential investor or just curious about property investment in and around Crawley, why not give us a call on 01293 515588. We’d love to hear from you. Alternatively, why not drop us an e-mail to crawley@northwooduk.com.