Monday, 31 August 2015

Very attractive house in Burley with potential 10% yield

This 4 bed house on Beechwood Terrace has recently been done out and has been nicely finished and attractively decorated. It's located just by Burley Park train station and is only a couple minutes walk away from Cardigan Road with it's numerous bus stops. This location often appeals to both professionals and students so this house would be a great investment as it means you have a much broader market. 

This house has got three really good size bedrooms and one slighter smaller one so even though it's been done out really nicely there is always a chance that the fourth room could possibly causes issues letting it out. As the house already has two full bathrooms next to the bedrooms in the basement and the top floor, in my opinion the best option here would be to convert that smaller bedroom on the first floor into an en-suite for the other larger bedroom on the first floor. 

Even though you would be losing a bedroom, from my experience having a small bedroom poses quite an issue these days and tenants are less likely to rent out these small rooms even if you were to offer less rent for it. 

By creating a desirable en-suite property it would then enable you to rent the house for around £14,040 per annum and you would be safe in the knowledge that all the rooms would be in high demand. 

The work involved to install an en-suite & to move some doorways for the other bedrooms to have the current bathrooms as en-suites would only really cost around £5k as nothing else needs to be done so if you managed to get the house for around £135,000 you would then be looking at a good return of 10%. 

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