With investments in banks and building societies attracting low rates of interest, our clients, are looking towards the buy to let market. But what bricks and mortar are right for you?
Here are some of our thoughts.
Town or Rural?
•Stronger tenant demand in highly populated areas
• Possibility for corporate lets in high employment areas
• Tenants may pay a higher rent closer to amenities and transport links
• Tenants in urban areas are often looking for shorter terms
• One off rural properties can be more expensive
• Rural properties often have more space inside and outside
• Rural properties are attractive to second home tenants
Large or Small?
• Large houses are popular with families often looking for longer term tenancies
• Large properties can be costly if unoccupied
• Some tenants are put off larger properties because of running costs
• Broader market for smaller properties. Rising divorce rate means more single homes wanted
• The recession means fuel bills are of bigger significance now than before.
• 2 small properties may mean a higher rental return
Old or New?
• Generally there is greater capital growth with older properties.
• Getting an older property up to the standard for a rental property can be expensive
• There can be limitations on bringing listed buildings up to standard for letting
• Higher utility bills for tenants of older houses
• Lower maintenance costs on a new build
• Brand new properties often include white goods
• Rooms can be small in new developments
Contact Rachael James 01258 474265
rjames@symondsandsampson.co.uk