This blog follows the property market in Northampton with a particular emphasis on buy-to-let. On here you'll find general commentary about the market, plus properties that may represent decent buys. I own a large estate agency in Northampton and am myself a landlord with an established portfolio. If you're looking to invest, but are unsure what will work best, I'm happy to offer a (free) second opinion. If you have a property to sell I can help with that too! Email richard.baker@belvoir.co.uk

Monday 17 March 2014

Contractors!


We are updating our list of approved contractors and are keen to hear from people who may have skills in the areas below. This may be your main occupation or something you do in your spare time. It’s important you have your own tools, equipment and transport, plus if the job is a regulated one (eg. Gas Engineers) you must have the required paperwork. It’s also important that you have some time in your diary – the nature of our business is that we need things done quickly, so if you’re booking 6 weeks in advance you’re no use to us. If English if not your first language, your English must be good enough for you to deal with us by telephone or email – we do not visit jobs with contractors every time.
  1. ·       Ground workers (lay turf or a patio etc)
  2. ·       Gas Engineers (Gas Safe only)
  3. ·       Plumbers (fix leaks)
  4. ·       Fencing / Decking (repair or replacement)
  5. ·       Painting and Decorating (but only people who prep properly and do a good job!)
  6. ·       Clearance and cleaning  (end of tenancy)
  7. ·       Electricians (qualified)
  8. ·       General handymen
  9. ·       Roofers
  10. ·       Plasterers (tidy ones!)


If you have any skills in these areas, AND you have availability, or know someone that does, please EMAIL me (don’t call!) and let me know what you can do. 

We're aware that most lettings agents will let you charge them anything, and aren't too fussy about quality. We expect a good job at a reasonable price.
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Tuesday 11 March 2014

Should I buy a new build flat in Upton, Northampton

A guy asked me this by email yesterday - he was worried about saturation of flats in that area, and I penned the following reply. However when press send it bounces back. Not sure how this is possible as I'm replying to the original email I received, but clearly it is! Anyway, what about new build flats in Upton.....

Don't worry about saturation - there's no sign of this currently. If you gave me 20 flats in Upton, I'd find you tenants, provided you priced them sensibly. I wouldn't be able to find 20 immediately, but I'd do 2 a week for 10 weeks without too much trouble. Some times with new build blocks of flats they all go to rental and they all complete on the same day. That creates a short term problem with supply and demand, but once the initial hurdle is overcome, normal service resumes.

Whether you should buy new build is another question! Some people do this as it looks nice and everything is guaranteed. If you're a good negotiator you may be able to get the builder to chuck in all the things you need to get it let - appliances, window blinds, flooring. It's an ultra low risk approach to buy to let. However you will always pay a premium for a new build property and whether it makes financial sense is another question entirely! Compare these 2 properties:
They are both going to rent for the same money - £575PCM. But one is £30,000 more than the other. A lot of people would still be more attracted to the new one as it's much prettier, but if these were the only 2 properties available I know where I'd be sticking my money! What I'd spend the £30k saving on is another matter entirely.
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