Summary:
2 bed new build house in Tangmere
Listed for sale on 14/10/15 @ £255,000
Rent = £900pcm
Yield = 4.2%
2 bed new build house in Tangmere
Listed for sale on 14/10/15 @ £255,000
Rent = £900pcm
Yield = 4.2%
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Bader Heights is a new development of 160 homes by Miller Homes off of Meadow Way in Tangmere. It has just been released by Henry Adams for 'early reservation' i.e. off-plan purchases, with none of the homes being built yet (some groundworks have begun).
This particular plot is a two bedroom house, so long-term readers will know I think it fits the bill perfectly as a local buy-to-let property.
Although the £255,000 asking price is some £50,000 more than nearby two-bed houses, the new-build design (complete with two double bedrooms, an en-suite and cloakroom) should continue to hold a premium above the local area (the current housing stock nearby normally has one double and one single bedroom and only the one bathroom for the house). It also appeals to landlords who want a hassle-free purchase with minimal ongoing maintenance and the safety net the various warranties provide.
Whilst it's difficult to value a property before it's even begun being built, with nearby two-bed houses renting for between £800-£850pcm, I would expect an approximate rental figure of around £900pcm, which would provide a 4.2% yield based on paying the full asking price (hint: you shouldn't be paying the full asking price!).
Full details can be found on Rightmove via the following link:
This particular plot is a two bedroom house, so long-term readers will know I think it fits the bill perfectly as a local buy-to-let property.
Although the £255,000 asking price is some £50,000 more than nearby two-bed houses, the new-build design (complete with two double bedrooms, an en-suite and cloakroom) should continue to hold a premium above the local area (the current housing stock nearby normally has one double and one single bedroom and only the one bathroom for the house). It also appeals to landlords who want a hassle-free purchase with minimal ongoing maintenance and the safety net the various warranties provide.
Whilst it's difficult to value a property before it's even begun being built, with nearby two-bed houses renting for between £800-£850pcm, I would expect an approximate rental figure of around £900pcm, which would provide a 4.2% yield based on paying the full asking price (hint: you shouldn't be paying the full asking price!).
Full details can be found on Rightmove via the following link:
http://www.rightmove.co.uk/new-homes-for-sale/property-55408031.html
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