Summary:
2 bed house in Tangmere
Listed for sale on 25/07/16 @ £250,000
Now = £240,000
Rent = £875pcm
Yield = 4.4%
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As far as buy-to-let property is concerned; I like Tangmere and I like two-bedroom houses....and here's a two-bed house in Tangmere. Keen readers of the Chichester Property News might be thinking..."he recommended a two bed house in Tangmere last week; and that was £40,000 cheaper than this one!" Indeed it was, so you'll have to decide whether it's worth paying 20% extra for a more modern property in a newer (and nicer) part of Tangmere. From a yield perspective, it probably isn't BUT it's possible it might achieve better long-term capital growth, as ultimately it is the nicer house of the two. Also, whilst you should buy with your head not your heart when it comes to buy-to-let investment, for those who still can't help but want something 'nicer' looking, this could be a good trade-off.
It's quite large for a two-bedroom house, although it's hard to tell as the estate agent hasn't bothered creating a floorplan as part of the marketing. Sometimes it's small details like this (and the pretty poor photos that are too bright and don't show off the space well) that can give you, as a buyer, an advantage as I suspect the relatively poor marketing effort has led to fewer than normal enquiries for the property (hence it's had a price reduction of £10,000).
The house is in a good condition, with double glazing, gas central heating, neutral decor and a modern kitchen and bathroom. In fact it's ready to rent immediately and due to it's two good-sized double bedrooms should easily achieve £875pcm, which would give a 4.4% yield based on paying the full asking price of £240,000.
It is on the market with Cubitt & West and full details can be found on Rightmove via the following link:
http://www.rightmove.co.uk/property-for-sale/property-60841298.html
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