A 2 bedroom house for £165k in a nice area, is that possible? Well if you search hard then yes it is, and this is a nice little starter home which any tenant family would be happy to live in.
Offering a reasonable amount of space internally, located close to good schools & shops and with excellent road links to the M1 and A5, this would suit either a young family with their first child or a couple just starting out. With an expected gross yield of around 5.5%, this is a good earner for an investor looking to get in at a lower level, and historically we find that affordable 2 bed houses always let without difficulty and very quickly with 708 searches for a property such as this in Kents Hill alone last month - the total Milton Keynes figure was over 83000 searches in the same time, so don't worry about trying to find tenants.
As for growth, 2 bedroom cluster houses in this street have grown in value by 34% in the past 5 years, which you have to admit is better than any saving account - remember that the tenant will also have been paying your mortgage if you had one, or providing you with positive cashflow every month if you didn't borrow against the property.
If you are thinking of getting into the property rental market as a new investor and don't know where to start or what to look for locally, speak to us for impartial advice and guidance to get the best return on your investment. For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01908 562582 or email us on miltonkeynes.enquiries@belvoirlettings.com
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