Looking on Rightmove today we notice there is a wide choice of property which potentially could offer an investment opportunity. But from analysing the properties available of a similar price there is a quandary apparent between apartments and houses.
For example on the market is this spacious apartment in a desirable location close to Bedford park and the Town centre. On the market for £175,000 you could achieve £750 per calendar month . Return 5.1% . It needs some refurbishment so there will be some additional expense.
For the same price there is also a two bedroom house in Riverfield Drive which is in good condtion and is also very popular in relation to letting. For this however you would be looking at £700 per calendar month. So the return would not be as good,
However you must also consider the following points :
- Are there any additional costs such as maintenance and ground rent?
- Due to the age of the property will there be any maintenance costs?
- Is it a “turn key” property or will work be required?
When purchasing a property for investment purposes it can be a mine field.
Get in touch we can talk you through it