Flats in Waterlooville - Good Yields of over 5%
Updated: Nov 11, 2018
I was talking to one of my landlords the other week, when the subject of flats came up and whether they would make a good investment. Flats are not always the first choice for investors but they rent very well and generally offer good yields. There is a strong argument that buying a flat these days is not an issue as they are sensibly priced, the error people made in the past was buying them at the start of this century for more than the price of a house.
If you are a landlord with a limited budget, you can still find a decent property to let in Waterlooville. Typically, a two bedroomed modern apartment can be bought for around £230,000 near the town centre of Waterlooville within the Wellington Park estate just off Hambledon Road – the average rent for a property here is likely to be around £950 per month.
When purchasing a flat always check:
1. Term of the lease
2. Current ground rent charges
3. Service/maintenance charges
The above costs are for the owner of the property to pay and not something that can be passed onto the tenant, therefore costing these figures in is crucial. These costs usually include, but can vary so cheap on each individual building, buildings insurance, external maintenance to the block, cleaning of the communal areas and external of the windows and gardening if applicable and garden isn’t part of the flat.
Please remember: From April 2018 all residential rented properties need to have an energy rating of between A-E, any property with a rating of F and G will require improvement works to increase the energy rating before the property can be let.
If you would like our opinion on any potential investment, please get in contact.