Walsall Property – 5 Helpful Tips on Getting the Best Out of a Refurbishment
Not everything you do to a property adds a premium to the price. A question I get asked time and time again from landlords, who think by maintaining a property where they replaced a boiler or a tenant, who through choice, changed the flooring and some minor decorative work feel they have done. So what does constitute value and how does this work with Walsall property?
Below are my thoughts and examples of 5 improvements that will add the most value to your next Walsall refurbishment (weigh up the costs against the extra you will achieve in rent though, each project is different):
A traditional three bedroom terraced house in the Beechdale area of Walsall, WS2. An impressive spec here, which beats comparable properties I have seen in the area. It is very much good to go as it is, no changes required unless you really want to. However as always, I would urge a viewing as soon as possible, because somebody somewhere will be interested. There is no harm in going to have a look. The asking price is about right, but no harm in a little bit of a haggle. There is double glazing, gas central heating and parking is on-road.
Walsall’s Train Stations are used by 1.2m People a Year!
My blog reading friends may or may not be aware that I source and manage properties for a living. I have my own portfolio therefore, I am a landlord as well. Perhaps at times I haven’t made this obvious which was highlighted by a landlord who recently asked me the question.. “so what is it that you do apart from writing this blog”..?! I have many clients locally, nationally and internationally who use my services to source and manage property meeting their criteria.
Of the recent conversations I have been having with people looking to enter the Walsall property market, I’ve noticed a common thread in my response. It might surprise you to learn that our small and quaint town of Walsall is serviced by 3 train stations (Bescot, Tamebridge Parkway and Walsall). This makes it an ideal location for commuters to our two neighbouring cities – Birmingham and Wolverhampton. I mean, there is a reason why one of the most popular property programmes on television is called Location, Location, Location!
A two bedroom terraced house, Sorrel Drive, Tamebridge, Walsall, WS5. The asking price is £110k with Bairstow eves (01922 312791). Full property details are here.
Located in the highly popular and very desirable Tamebridge estate, speaks volumes as to the location and therefore the potential for long term letting.
A two bedroom terraced house in the Rushall area of Walsall, WS4. A superb spec on this property and can be let as is. A traditional terraced house from the outside, but inside a very nicely presented property. The asking price is about right for the area and type. The location is ideal for local schools. many within a mile radius. Healthcare amenities such as doctors, dentists and chemists are also within easy each. Transport services and major road networks are excellent.There is double glazing and gas central heating. The only down side is that parking will be on-road. I would urge a viewing sooner, rather than later.
Rents in Walsall Will Increase More Than Walsall Property Prices In Next 5 Years!
Last weekend I had a meeting with a professional landlord who has an extensive portfolio of properties. By his own admission, he confirmed that he has somewhat neglected the portfolio which he has kind of left to look after itself. In recent years his focus was his family-run business so the portfolio wasn’t a priority. He wanted to change this attitude and become more aggressive with his Walsall property ambitions by expanding on a healthy and varied portfolio.
During our meeting he asked me where in Walsall and what type of property he should purchase to create the best capital growth and great rental yields. This got me thinking about our property market in Walsall and what has actually happened to rents and property prices..and more importantly for him..projections for the future.
Some fascinating changes are in the air in the Walsall property market. Just to give you a flavour of the full article below, upon conclusion of my research I found that the rent private tenants pay will rise faster than property prices over the next five years. Creating further issues to Walsall’s growing multitude of renters. In fact, my examination of statistical forecasts found that –
A 3 bedroom terraced house in the Rushall area of Walsall, WS4, currently marketed by Purple Bricks (01926 267659). Plenty of photos here showing the property off at its best. Certain aspects of the decor would need to be changed, but not essential.
Without a internal viewing it is impossible to assess if any other upgrades need to be made. Based on what we can see you could expect a rental of £625.00 pcm. Therefore, if the property sells at the current asking price of £120k will result in a yield of 6.25%.
If you would like an instant online appraisal as to the rental value of your property, please click here.
A two bedroom terraced house on the prestigious and popular Tamebridge estate in Walsall. The area is very high profile area for renting and rental prices tend to attract a premium on the estate.
It looks like it is ready to go and could be let as is. You may wish to do some minor decor changes, but this is not essential.
The property has double glazing and gas central heating. Parking is off-road. I would recommend a viewing sooner rather than later. The location is within easy reach of all the major road networks, services and other amenities lending easy access to Walsall and West Bromwich town centres.
A local property investor/ landlord contacted me last week with a million questions which I really enjoy. Those of you that know me personally know I love to talk about Walsall property to anyone who would lend me an ear (at this point I wish I had some emoticons to add a couple of smiley faces)! Now, our investor was a shrewd individual it seemed and informed me how he had several properties achieving, what seems like from the outset, some great rental values..which got me thinking..what is actually happening with current property values and rents over the past year? What is the route to getting more ‘bang for your buck’?
The new year started with some positive interest in the Walsall property market. Taking a snap shot of the Walsall property market for the first quarter of 2017, the picture suggests some interesting trends when it comes to the asking prices for property and what prices properties are actually selling for. This is really important to understand as everything connected to these two factors has a ripple effect which ultimately affects your final numbers whether you decide to flip (re-sell) or rent it out.
The decor is not to everyone’s taste, however, do not let that stop you from letting it as it is. In my opinion it would be better to change the decor throughout. Why not arrange a viewing today, the photos are good enough reason to!
A two bedroom terraced house in the Birchills area of Walsall, WS2, The asking price is £100,000, which I think is slightly overpriced, but since offers are to be, “In the region of” I would have no qualms in making a lower offer. I have featured similar properties in the same street, but have better specs. Though there is not a lot in it, negotiation is part of the process.
Walsall Property Blog 
You must be logged in to post a comment.