Thursday, 25 August 2016

Crawley Property Investment in Bewbush Family Home

The Bewbush area of Crawley was the last big estate built in the 1970’s by Crawley Borough Council.   Complete with neighbourhood centre, shops and schools the estate offered mainly family homes of three and four bedroom houses.  Since its completion many of these houses were bought under the right to buy scheme with many now owned by landlords.  I have seen this 3 bedroom home come on the market with Mansell McTaggert that would achieve a 5.5% yield, you can view the details by clicking the link below:
Bewbush has been added to and modernised over the last forty years with private builders continuing to expand the types of housing on offer.  House prices in this area have risen by 66% in the last ten years alone.  The area remains popular with families that generally will make for a very long term tenancy.  But we have seen an increasing number of sharers consider the area due to the excellent FastWay service to Gatwick that also links the town centre, stations and industrial estate. 
Salvington Road, Bewbush
The average 3 bedroom house will rent for £1150pcm in the current market which will give a yield of 5.5% on the £250,000 purchase price.  Any prospective purchaser should be aware that these homes were originally fitted with warm air central heating systems that have since gone out of fashion and can be difficult to maintain.  To replace the system with a boiler and radiators will leave you paying an invoice of around £5000 but would dramatically increase the energy performance of the property.  Landlords should also be aware that the additional stamp duty would levy an additional £7500 to the stamp duty bill when purchasing the property.

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