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 £120k buy in Rugby
Spending £120k doesn't really open up any new areas compared to spending slightly less. But it will get you a nicer or larger property in the key rental areas of town. It also means you can afford pretty much any Victorian Terrace in town too.
This, for example, is at the nicer end of the Victorian market (larger, front garden, bay window, etc). It will rent for £600, and sell for as much as £120k which yields at 6% - not the highest yield ever, but appealing to investors who like to buy places they feel they could perhaps live themselves.
Alternatively this takes you out towards Bilton, and offers a more modern property in a decent area, with garage etc - very popular with tenants at around £575PCM, but also very popular with first time buyers which is why the yield is never quite as high. These type of properties represent very safe, but not particularly exciting, investment opportunities.
