Over the weekend I bumped into an old friend of mine whilst out shopping for some bits and bobs, He has noticed my Warrington Property Blog and started to explain that him and his wife have been toying with the idea to invest some money in property, they have decided to stick to flats as a strategy however they are not too sure whether to buy a 1 bedroom or a 2 bedroom flat.
I gave him some vague figures and numbers but invited him and his wife to our office for a proper chat, this gave me the time to really research the topic and give them a better idea of where to invest their money.
The first question I asked them was what are they looking for from the investment - capital growth in the property or a great yield?
Answering this question will help you figure out which properties you should buy...The average asking price of a 1 bed flat in Warrington is £75,000 today compared to £110,000 for a 2 bed flat. The 1 bed flat achieves an average rental price of £425 per month compared to £575 per month for a two bed flat.
That’s a yield of 6.8% for the 1 bed against 6.2% for the 2 bed. So surely, the 1 bed flat is the better bet? Well it does offer a better rate of return, but the 2 bed semi is slightly easier to rent out (less void periods) and will be easier to sell in the future.They are now allowing me to find the ideal investment property for them in Warrington – you may or may not know but I am here to give you my opinion good or bad, I will come along to viewings with you and sit down to really tighten the strategy to make sure you find the right investment property for yourself – remember this is not a house/flat you are living in and it should be a business decision. I charge absolutely nothing for this as we will make our money on finding you the right tenant and managing the property for years to come.
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I gave him some vague figures and numbers but invited him and his wife to our office for a proper chat, this gave me the time to really research the topic and give them a better idea of where to invest their money.
The first question I asked them was what are they looking for from the investment - capital growth in the property or a great yield?
Answering this question will help you figure out which properties you should buy...The average asking price of a 1 bed flat in Warrington is £75,000 today compared to £110,000 for a 2 bed flat. The 1 bed flat achieves an average rental price of £425 per month compared to £575 per month for a two bed flat.
That’s a yield of 6.8% for the 1 bed against 6.2% for the 2 bed. So surely, the 1 bed flat is the better bet? Well it does offer a better rate of return, but the 2 bed semi is slightly easier to rent out (less void periods) and will be easier to sell in the future.They are now allowing me to find the ideal investment property for them in Warrington – you may or may not know but I am here to give you my opinion good or bad, I will come along to viewings with you and sit down to really tighten the strategy to make sure you find the right investment property for yourself – remember this is not a house/flat you are living in and it should be a business decision. I charge absolutely nothing for this as we will make our money on finding you the right tenant and managing the property for years to come.
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