Yield or capital appreciation – which is better? Why not go for both. I have seen this great 3 Bedroom House on the market with local agent Taylor Robinson in the Tilgate area of Crawley. One of the biggest headaches for Tilgate residents is parking and that problem has already been solved with the addition of the front driveway on this house. You can view the listing by clicking the link below.
Famed for its park, nature centre and lake, the Tilgate area of Crawley is favoured by young families because of the access to schools and the extensive leisure facilities. Current rental prices range from £1250 to £1350 for 3 bedroom houses in the neighbourhood thereby easily achieving the fabled 5% yield. It looks like the property could do with some updating which may explain the recent sales price reduction but for the canny investor this would be the opportunity to add value. Similar properties that have been updated have been marketed at prices in excess of £320,000. Landlords would need to take into consideration the stamp duty on the asking price of this property would be £13,200 but these properties tend to generate long term tenancies. Five to seven year tenancies are not uncommon allowing plenty of time to recoup the additional stamp duty especially if you consider that average house prices have increased by 160% since the millenium.
|3 Bedroom House For Sale|