Walsall Property Blog is taking a well earned rest!!

Walsall Property Blog is Taking a Well Earned Rest!!
Walsall Property Blog is Taking a Well Earned Rest!!

 

Keeping a blog updated can be an exhausting affair and the last time I took a break was August 2017 so, I’ve decided to take a well earned rest!!  I hope to return to the blog towards the end of November 2018.

In the meantime, why not visit these property related websites to hone your property investor acumen?

http://www.landlordlaw.co.uk/ – This is a great resource of useful information, especially on legal issues and Tessa Shepperson’s Blog has some golden nuggets…

www.periodproperty.co.uk is, as you can imagine, the place to find a thatched, listed or historic home, while www.propertyauctions.com lists dates and reserve prices on upcoming auctions plus tips for those bidding for the first time (great resource if you are seeking a fixer-upper.

This resource/ guide from Martin Lewis is extremely useful for first-time buyers www.moneysavingexpert.com.

Think you can’t afford to buy a property just yet?  How about buying as a co-sharer with a friend or family?  Visit www.ourproperty.co.uk to learn more about turning this possibility into reality.

Whilst I’m away if there is anything you would like me to pick up on/ discuss/ write about upon my return please send me an email or message me via any of my social media sites.  Take care and wish me happy holidays…

Phone: 01922 311016

Email: salekm@ashmorelettings.co.uk

My BTL Deal Of The Day, A 2 Bed Terraced “Fixer Upper”, Walsall, WS3. With Minimum Yields of 7.20%.

Well, it’s been a while since I highlighted a property like this. So, for all of you out there in investor land, who want a complete blank canvas to work with, here is my latest offering.

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My Buy To Let Deal Of The Day Is A 3 Bed Semi, Edinburgh Avenue, Walsall, WS2.

 

Only recently added to the sales market, this is technically a two bed semi with a loft conversion for the third bedroom, but we will call it a three bed just for the sake of argument. Situated on Edinburgh Avenue, Walsall, WS2. Currently marketed with Purple Bricks 0121 721 9601 for an asking price of £125k and based on a minimum pcm rental of £550.00 will yield 5.28%.

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£90,348 spent in Rent by Walsall Millennials Age 35

Walsall Rent Inreases Outstrips Inflation Since 2005
Walsall Rent Inreases Outstrips Inflation Since 2005

Millennials were born between the mid 1980’s and late 1990’s making them between the age of around 22 to late 30’s. They are the imaginative, artistic youngsters who grew up with the newest tech and computers and who are huge enthusiasts of music festivals, gourmet pizzas, emoji’s, selfies and old school nostalgia AKA…generation rent.

Countless Millennials have discovered that renting is a good choice for their shelter and accommodation needs without the hassle that comes from buying a home. Nonetheless, that is not the only reason they don’t buy property. When they should be concentrating on their profession, putting down roots and starting a family, Millennials are still going through the pressures and constraints on their finances of student loan liabilities whilst, at the same time, finding it hard-hitting to pay rent.

The hot topic at the moment is the cost of renting, as both our main political parties have seen mileage in wooing these Millennial Generation Renters. The average rent in Walsall is currently £618 per month making this a big-ticket item on the monthly budget. I was inquisitive to find out exactly how much Walsall Millennials will spend on rent by the time they reach their mid 30’s. The average age people leave home in the UK is 22; so looking at a Walsall 22-year-old (or Millennial) who left home in 2005 then between 2005 and today that Walsall Millennial will have shelled out £90,348 in rent.

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“Will the Walsall Property Market Crash…?”

Will the Walsall Property Market Crash
Will the Walsall Property Market Crash…?

A question posed by a local portfolio landlord of mine last week.  Who would be the gainers and losers…?

Those Walsall people wanting property values to drop would be those 30 or 40 something’s, sitting on a sizeable amount of equity and hoping to trade up (because the percentage drop of your current ‘cheaper’ property will be much less than the same percentage drop of the more expensive property– and trading up is all about the difference). If you have children planning to buy their first home or you are a 20 something wanting to buy your first home – you want them to drop.  Also, Walsall landlords looking to add to their portfolio will want to bag a bargain (or two) and they would love a drop!

Yet, if you have recently bought a Walsall property with a gigantic mortgage, you’ll want property values to rise. If you are retired and are preparing to downsize, you will also want Walsall property values to rise (because you will have more cash left over after the move).  Also, if you, a landlord looking to sell your portfolio or a Walsall home owner, who has remortgaged to raise money for other projects (meaning you have very little equity), you will want property values to rise to enable you to put a bigger deposit down on the next purchase.

So, before I discuss my thoughts on the future, it’s important to look at the past…

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GDPR & Walsall Landlords

GDPR and Walsall Landlords
GDPR and Walsall Landlords

Don’t know about you but I had heard so much about the new GDPR laws which came into force towards the end of May 2018 that I thought many of my Blog reading friends wouldn’t wish to hear another word on the matter!!  On the contrary…I’ve received several requests to clear matters up for you guys especially, around your personal responsibility when it came to staying on the right side of the law.

If you are letting a property in Walsall or indeed the UK for that matter, GDPR for landlords certainly affects you in a few key ways.  Before I address these major changes, let’s take a quick look at how we got to this point.

A brief history of UK data protection

In essence, data protection regulation has been enforced in the UK as a way to ensure that businesses and business owners do not abuse or misuse the data of their customers.  The purpose is to ensure it is not just used correctly but also stored safely.  In the UK, the first Data Protection Act was introduced in 1984.

It has been subsequently revised over the years and in 1993, a famous case was brought forward which saw PC Brown being prosecuted for mishandling data.  Though the ruling was eventually overturned, it was a landmark case and UK businesses seemed to start taking data protection more seriously.

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Buy To Let Deal Of The Day Springfields, Walsall, WS4. Yields 6.00%

A modern 3 bedroom terraced house in the Rushall area of Walsall, WS4, currently marketed by Acorns & Co (01926 312060). Plenty of photos showing a very nice spec. The decor is neutral which is excellent news and the carpeting may need to be changed, but not essential.

I would highly recommend a viewing. 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 £125k will result in a yield of 6.00%

If you would like an instant online appraisal as to the rental value of your property, please click here.

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