A couple of weeks ago we
had a couple pop their head through the doors of my offices on the High Street in Stanstead Abbotts. They live in Lawrence Avenue in the Village by the River and wanted to pick my brains on buying their first buy to let property
in the area. They were particularly interested in the The Granary or Sanville Gardens on the approach to the Village from Hoddesdon and gave me an idea of the budget they had in mind.
This set me about a very interesting task of looking at the type of properties they would get for there investment, the yield they would acheive and most importantly the potential "Void" periods that may reduce there yearly return.
I looked at the area as a whole and not just the two specific developments they had shown interest in and this is the information that I found.
Of the properties that were available on the sales market at the time three had the potential to be good buy to lets, one in the area they had initially looked at, one in Lee Close a bit nearer to where they were located and one in River Meads by St Margarets station. Surprisingly the Sanville Gardens property seemed the least attractive proposotion as the asking price was considerably higher than that of the others and the evidence found on the rental income achieved for these properties showed that the "Yield" would be nearly 1% less.
I looked at the area as a whole and not just the two specific developments they had shown interest in and this is the information that I found.
Of the properties that were available on the sales market at the time three had the potential to be good buy to lets, one in the area they had initially looked at, one in Lee Close a bit nearer to where they were located and one in River Meads by St Margarets station. Surprisingly the Sanville Gardens property seemed the least attractive proposotion as the asking price was considerably higher than that of the others and the evidence found on the rental income achieved for these properties showed that the "Yield" would be nearly 1% less.
But what about demand
from tenants? Looking back at the previous three months of apartments on the the market for rent and the time in which they took to let 75% of the properties were taken within three weeks of initial marketing which proves that, marketed at the right price and presented in the right way, these properties are always in demand. With such excellent demand from tenants, could this be
the right area to purchase your next buy to let investment?
Therefore, if you are
considering buying a property for investment in the near future, I am always happy to give you my considered opinion on which
property to buy (or not as the case may be) even ones on the market with other agents so if you are a landlord, new or old, I am more than happy for you to pop in and see me or email on adrian@propertyfile.org
I have been in and around the Hertfordshire property market for over 25 years, starting as an estate agent in the county town of Hertford and now running a successful lettings and property management company based in Stanstead Abbotts. I have let and managed property all over Hertfordshire from the area that I currently work to Wheathampstead where I owned and managed a lettings & estate agents to Watford and surrounding areas where my company acted as a marketing agent for one of the largest property management companies in the country”
"Your local lettings experts, our advice is free but our knowledge is priceless"
I have been in and around the Hertfordshire property market for over 25 years, starting as an estate agent in the county town of Hertford and now running a successful lettings and property management company based in Stanstead Abbotts. I have let and managed property all over Hertfordshire from the area that I currently work to Wheathampstead where I owned and managed a lettings & estate agents to Watford and surrounding areas where my company acted as a marketing agent for one of the largest property management companies in the country”
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