In yesterdays blog story at mycrawleyhome.com I wrote about landlords traditionally buying at the bottom of the market, today I have seen this studio apartment in Ifield come to market with local agent King & Chasemore. You can view the details by clicking the following link.
Studio apartments are the first rung on the ladder for single occupants and quite often rented as a temporary home by workers moving into the area who are not familiar with the town. With the price tag at £125,000 and an expected rent of £650 we would achieve a yield in excess of 6%. Landlords should bear in mind that studios will rent quicker as a furnished let, the tenants would be very unlikely to come with their own furniture. In many cases we would also expect to provide the basic crockery and cookware in the kitchen. Camelot Court has ample parking for those with a car and is within striking distance of Ifield Station for connections to Horsham, Crawley, Gatwick and beyond. The studio room is spacious and bright with a double aspect and has a good range of storage cupboards. Investors should bear in mind that they’ll be paying £3750 in stamp duty whilst a purchaser buying it as their only home will be paying nothing in stamp duty.
|Camelot Court - Ifield|