Month: September 2017

i am on the hunt for a buy to let. should i buy an apartment or a house?

This is a question I get asked on a regular basis and unfortunately there is no right answer. It is down to personal preference and what you are wanting to achieve from your investment.

Despite the stigma, apartments do make fabulous buy to lets for a number of reasons:

  • They are generally cheaper to buy than houses and some can offer very similar rental prices
  • They are lower maintenance as there will be a management company to look after the building and the communal area – no sudden need for a new roof!
  • Apartments are popular with young professional tenants who will pay a premium for low maintenance accommodation, close to train/tram/motorway network

However you need to be aware that most/all apartments come with a monthly service charge and an annual ground rent which can eat into your profits. These are not items which can be charged to the tenants or added to the rent so you must take these into account.

Houses are always popular with families with children who are looking to settle in a home in the catchment area for their desired school. The addition of a garden also really helps.

With this in mind, tenants renting houses will generally stay in the property for longer, instead of moving each 6/12 months meaning less costly void periods.

You will also generally find that houses will increase in value quicker, and more dramatically than apartments and its larger plot also gives you the opportunity to extend/renovate.

The most important things to look for in a buy to let aren’t whether it is an apartment or house, it is its location, type of tenant likely to be attracted and yield. If all of these seem positive, the style of property doesn’t really matter.

If you would like any advice on your hunt for a buy to let, or have a questions for Octobers ‘Ask Anna’ then please feel free to get in touch either by phone 0161 442 1118, email annacorrigan@julianwadden.co.uk or by visiting me at the office on Moorside Road.

Anna

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the little face of the heatons

Venture Studios in Heaton Chapel are opening a competition to find ‘The Little Face of The Heatons’, in association with MOOR.

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heatons library coffee morning

Fancy a coffee? Why not make your way down to Heaton Moor Library on a Wednesday morning between 10.30am and 11.30am. The library are hosting this great event giving you the chance to catch up with friends over a coffee in a relaxed atmosphere and why not even take a book out while you are there for yourself and learn something new. It’s also a great opportunity to introduce reading to young children or perhaps book at  new story for bed time.

For more information please email libraries@stockport.gov.uk.

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family fun day at manchester road park

Friends of Manchester Road Park, have a ‘Family Fun Day’ on Sunday 24th September between 1-4pm at Manchester Road Park, Heaton Chapel.

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Annualised breakdown of sales by type

We’ve used a donut chart (excuse the American spelling) to illustrate the mix of properties that have sold in the last 12 months. Given the profile of the housing stock in the area, there’s nothing too surprising here, but it’s interesting to see how the different types of properties are represented in the local market.

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life-cycles in our area

Life cycle profile is a useful indicator of the complexion of residents in a locality. Some areas, like inner cities and built-up areas, have lots of young single people who live in flat shares or alone. Most of the suburban parts of the country are filled up with families. Some parts have a large elderly population, particularly around the coast.

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Prices by type in the last few years

The average unweighted sold prices of houses and flats have generally seen a steady incline over the last eight years. It’ll come as no massive surprise the houses are typically more expensive than flats but, the movements over time are nonetheless telling.

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How commuting patterns are helping the local property market

How often we commute to the office and how long it takes each day has major implications on where we all choose to live. While the ever-increasing use of technology has made it easier to work from home, most people living in Britain still take part in the ‘daily grind’, with a staggering three-million commuters now spending more than two hours to get to work.

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