This 2 bed semi detached Bungalow is situated at an over 55’s development in Deepwood Close, Shelfield, Walsall, WS4. On the market with Lovett & Co (01543 526007). Priced at £95,000. Full details can be found by following the link below:
I like bungalows, I just like them. Probably down to many factors more to do with the heart than the head but perhaps it’s to do with the space, no stairs, grandma’s cookies, grandpa’s jokes and that holiday feeling etc..etc….
Anyway, before I drift off I would like to share with you the reason why I think this particular bungalow caught my eye today and why I think this makes a great buy to let investment.
Set in a development for the over 55’s this 2 bed semi detached bungalow in Shelfield, Walsall looks ready to go. Looking at the pictures I’d say that apart from the bathroom and perhaps the kitchen there really isn’t much to do other than by way of decoration which is always subjective. I have a template for rental properties which you don’t have to follow but it makes it easier for the landlord to maintain by keeping costs down. Perhaps I’ll share more about that in a different post.
The over 55’s generally make ideal tenants. Looking at our branch averages they are our amongst some of our best tenants. My concern for this development would be around the property title as experience dictates it would most likely be a leasehold title which would no doubt restrict the buy to let investor. This would provide added costs such as service charges which I’m sure would be minimal compared to apartments. Nonetheless, these need to be considered as they could potentially have an overall effect on the net yields. Property adaptations, personal alarms could escalate costs further.
Having said the above, by throwing caution to the wind, this could make an ideal investment for an astute and experienced landlord looking to expand their portfolio. As the ageing population are living longer these such developments are not only invaluable to society but the need will continue to increase capital growth.
If you require any assistance buying leasehold or freehold property in the local market please do not hesitate to pick up the phone or email me.
Phone: 0345 257 9850/ 01922 637672