Friday 7 August 2015

Buy-To-Let Deal of the Day - Substantial family home for long term tenants

I was speaking to a landlord last week who lives in Surrey and is looking to expand his property portfolio in the Sussex area. He already owns a lovely three bedroom bungalow in Birdham which has consistently let to families who have stayed, on average, between 4-5 years. Having good quality, long-term tenancies is a big driver for him, and he is looking for properties that offer similar opportunities in the Chichester area.

We established three main focuses for his property search:

1. Proximity to good local schools and transport links
2. High standard of cosmetic finish to attract the best calibre of tenant and minimise expenditure
3. Opportunity for strong capital growth


Looking through Rightmove we noticed a modern four bedroom family home in the village of Nutbourne, close to the sought-after Chidham Schools, and Bosham railway station.

http://www.rightmove.co.uk/property-for-sale/property-35636277.html 

On the market with Whiteheads estate agents at £389,995, a landlord could expect to receive a rent of around £1450pcm - providing a gross yield of 4.5%. More interestingly, however, is that house prices have risen in Nutbourne village by 9.10% on average over the last 2 years, representing a whopping £30,539 in capital growth!

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