Today we are showing a decent, modern, family sized home in the relatively new development of Newton Leys, sitting on the extreme southern edge of the city.
If you want to minimize your exposure to repairs and maintenance, a nearly new property is the way to go. Why nearly new and not brand new though? Once a property has been completed, there will always be a period shortly afterwards where the first owner or tenant has to snag, or fault find, because it is inevitable that there will be faults, loose fittings, things that don't work or were not connected, and they can only really be found by living there. On a nearly new property, this pain will have already been endured by the first owner, leaving you and your future tenants in relative peace to enjoy the building as it was designed.
Back to this particular house then - offered for sale today at £250k, when presented to the rental market (and it should need virtually nothing doing to it before hand), we would expect this to rent for around £1150 PCM, a respectable 5.5% yield on a great family home. But what about capital growth? This property was last on the market in 2012 and sold for £210k back then, if it reached the asking price today that would represent a 19% increase in value for the current owner - compared to the local market average growth of 17% over the past 2 years this is still decent amount of growth on a relatively new house, and over the coming years there will be schools, shops and other leisure facilities coming on line to make this a fully functioning community in it's own right, so demand will continue to increase from families wanting to live in such a nice, modern location.
If YOU want to be the first to know about what would make a great Buy To Let investment that is currently available either on the open market or via our own sources (landlord to landlord sales etc), call or email us now and get your name put on our Premier Investor list on 01908 562582, pop through the door of our offices on London Road in Stony Stratford or send me an email.
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