Currently
there are 240 properties currently listed for sale on Rightmove in Northampton
for under £150,000. If you’re short of time, or not too sure what you’re
looking for, that’s a lot to look through. But fear not – we’ve done it for you
– and from what’s available at the moment here’s what caught our eye the most.
There’s a bit of something for everyone!
If you’re on a budget, here’s where we would start. This one looks as though it needs some nominal upgrading including a new kitchen which we could deal with quickly. But then it will rent at £500 (the £550 the agent is suggesting is a bit optimistic). It’s an ex-local authority block so service charges should be reasonable.
2 bed apartment, Porlock Close, £100,000 for £600 rent.
One rung up the ladder is this 2 bed, again needing a bit of upgrading, and in a marginally better area, but also benefitting from instant rentability and reasonable service charged. These are usually big flats - much more so than their more modern equivalents.
1 bed cluster, Manorfield Close, £100,000 for £525 rent.
No internal pictures here which often indicates there’s some money to be spent. But this is sensibly priced, and these cluster houses are tiny so any refurbishment costs shouldn’t be too high. We rent loads of these things throughout town and they are freehold, so no charges.
1 bed apartment, South Meadow Road, £115,000 for £600 rent.
This is in one of the best areas of town so will appeal to people who value postcode above return. It’s smart, modern, and you could live there yourself. Will have a good lease length and secured parking too. Should require little work.
2 bed apartment, South Meadow Road, £130,000 for £675 rent.
Same road, slightly less attractive block, but a LOT of flat for the postcode. This has failed to sell at auction and is now listed as available at £130,000 from the auctioneer – if you’re a cash buyer you may be able to knock them further? You can spend £130,000 on a bog standard flat elsewhere in town, so this is cheap for a premium area.
2 bed house, Boughton Green Road, £135,000 for £700 rent.
Not much Victorian stock on the market currently and this one looks the best of what’s there. Doesn’t look like it’s huge, and does look like it needs cosmetic improvement but it’s very rentable and a better use of £135,000 than much else that’s offered for the same money.
As ever, I’m happy to talk to any
investors thinking of purchasing one of these, or about one you’ve seen
yourself. richard.baker@belvoir.co.uk
in the first instance.
