When most people look for a buy-to-let investment, they have a budget. With that in mind, over the next few weeks, I’m going to look at what a given sum should buy you in Rugby. In doing this, I’m talking about properties in good lettable order, so if a property needs works doing, this is what you should budget INCLUDING works. Have a read, and if you want a chat about properties you've seen, EMAIL ME! richard.baker@belvoirlettings.com.
What will £60k buy in Rugby
At this price band, you’re really restricted to leasehold properties, and deals are few and far between. You will find things though if you search hard enough. You'll also find some of the best yields on offer, as pretty much every 1 bed property will rent for a certain sum, by buying inexpensively, you're keeping the yield high.
Something like this doesn't look like, but will make you good money. This particular flat was in pretty poor order, and needed full renovation, but at about £45k all done, and a rent of £395PCM, gave a yield of over 10%.
Or there are a few blocks in town where flats are inexpensive, mainly because they are quite small. This one is on Wood Street, and 1 beds generally sell for less than £60k, studios a bit less. Again the rental will be £395PCM or thereabouts, so the yield is 8.5%+.
