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 £80k buy in Rugby
There's the odd freehold property at this price, but you're still mainly looking at leasehold, all be it a higher standard of leasehold than at £60k and presumably a higher standard of tenant too.
The gems, if you can find them, are properties like this. £75k in Long Lawford or similar for a 1 bed house that will rent for £450PCM, delivering you over 7%, without a service charge deduction. They are relatively modern too meaning that running costs are more predictable than with a period property.
The alternative is a more modern flat, somewhere like this one in Lawford Bridge Road. This will rent for £525PCM, but can often be acquired for less than £80k if there's a repossession involved, so a starting yield of £7.8%.
