I often struggle to direct a landlord towards a 'cheap' property in or around Chichester because this normally means recommending a flat. Whilst they can have their advantages, my experience has shown houses are far better long-term investments in regards to ease of management and financial reward.
One bedroom houses are rare, yet when one becomes available for no more than an equivalent flat, yet benefits from it's own garden, garage and freehold title, I think it makes it an ideal candidate for a 'cheap' buy-to-let in the area.
Located in Tangmere (which I've spoken positively about in the past) is this one bedroom freehold house, available for £168,000. It is presented in excellent condition, with a modern kitchen and bathroom, double glazing and gas central heating.
A similar one bedroom house in Tangmere is available at £725pcm, suggesting an excellent 5.2% yield (from a freehold property remember).
The only downside with one bedroom properties is when you consider the overall cost to the tenant. Factor in council tax, gas, electric, water, the tv licence and insurance and suddenly it becomes rather expensive for potentially a single occupant. A couple would often choose the extra space of the two-bedroom alternative considering it would only cost around £100pcm more overall. This means the void periods on one-bedroom properties can be longer and length of tenancies shorter.
One bedroom houses are rare, yet when one becomes available for no more than an equivalent flat, yet benefits from it's own garden, garage and freehold title, I think it makes it an ideal candidate for a 'cheap' buy-to-let in the area.
Located in Tangmere (which I've spoken positively about in the past) is this one bedroom freehold house, available for £168,000. It is presented in excellent condition, with a modern kitchen and bathroom, double glazing and gas central heating.
A similar one bedroom house in Tangmere is available at £725pcm, suggesting an excellent 5.2% yield (from a freehold property remember).
The only downside with one bedroom properties is when you consider the overall cost to the tenant. Factor in council tax, gas, electric, water, the tv licence and insurance and suddenly it becomes rather expensive for potentially a single occupant. A couple would often choose the extra space of the two-bedroom alternative considering it would only cost around £100pcm more overall. This means the void periods on one-bedroom properties can be longer and length of tenancies shorter.
Full details can be found on Rightmove via the following link:
http://www.rightmove.co.uk/property-for-sale/property-51528989.html
http://www.rightmove.co.uk/property-for-sale/property-51528989.html
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If you are looking for an agent that is well-established, professional and communicative in Chichester, then contact us to find out how we can get the best out of your investment property.
E-mail me on clive@crjlettings.co.uk or call 01243 624 599.
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