A proper budget option here for someone that's price conscious. I can talk confidently about this one as I own the (identical) studio above which rents without issue and offers a return of over 7%.
- They are asking £73,500 for a studio that looks to be in good condition. It will rent for £475 which is a headline return of 7.7%.
- Service charges are nominal. It's a strange set up whereby you pay a number of small invoices for this and that - but it's no more than £250 per annum in total.
- The lease is lowish - under 85 years. I've just extended mine to 125 years which has cost me about £3500 - but my (identical) flat would be worth £80k+ now - so worth doing.
Here it is in all it's glory - http://www.rightmove.co.uk/property-for-sale/property-65297219.html. You would need to contact the agent directly to view it, although there would be very little risk in buying this blind - I did with mine!
You can't buy anything less than £73,500 in Northampton currently unless it's a caravan!
Any questions, please email me - richard.baker@belvoirnorthampton.co.uk
