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Buy To Let Investment - new or old?

I was talking to one of my landlords recently who is looking to increase his portfolio with a 3 bed house and wanted advice on whether to buy a new build on one of the new Offenham Rd developments for around £190k or an older property in the Bengeworth area for around £170k.

I was talking to one of my landlords recently who is looking to increase his portfolio with a 3 bed house and wanted advice on whether to buy a new build on one of the new Offenham Rd developments for around £190k or an older property in the Bengeworth area for around £170k.

 

The new build should achieve a rent of £825pcm showing a gross yield of around 5.21% and the Victorian terrace a rent of £750pcm showing a gross yield of around 5.29%. Although showing a slightly lower yield, the new build will tend to let more easily and it is often possible to negotiate appliances, floorings etc so is ready for a tenant to move in (…TV aerials and house numbers do not always come as standard!). But they will come with guarantees and will require low maintenance. Older properties generally offer more space, storage and parking, and will be cheaper but when you consider potential maintenance spend over say the next 10 years, the price could even out.  

 

We don’t sell property but we can offer impartial/unbiased advice to help you find the best investment property for you, so if you would like some free advice please call in to our office at 47 High St, or email melanie.carter@belvoirlettings.com.

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