This one is on with our colleagues at Miller Hendry and is currently a two bedroom Semi, well situated for Broughty Ferry etc,
This one is on with our colleagues at Miller Hendry and is currently a two bedroom Semi, well situated for Broughty Ferry etc, http://www.tspc.co.uk/details.asp?id=116151.
As it stands and judging by the photos it would benefit from some up dating and it would probably achieve a rent of around £500, with an asking price of £145,000 that’s a return of 3.79%.
Obviously not startling, however there a couple of less obvious factors that might make it more appealing.
Firstly capital appreciation, in the last 12 months the prices for semi detached properties in the DD5 area have increased by about 5.5% and over the last 10 years by nearly 44%.
However, lets put that aside for a moment, obviously someone has done a loft conversion on this property at some point and put a single bedroom up there. Well I think there is scope for a lot more work and to add more value at the property, firstly put a double bedroom in, possible with en-suite, there is also scope for a garage to the side and an extension to the rear. Now there are always issues with these things, cost being the most obvious and also planning permission. You would have to do your sums, but at lease adding a bedroom would significantly increase the value as well as increasing the rent. A far as planning goes, if you have a look at the satellite and street view in Google you can see that it exactly what some of the near neighbours have done, which means that the planners are very unlikely to say no.
Just a thought, there is more than one way to get a long term return on your money.