Buy to Let – Property of the Month
Buy-to-let does pretty much what it says on the tin! You invest in a property and then rent it out to a tenant. If there is a mortgage retained on the property, then in effect any rent received will pay this off over time eventually leaving the owner with an asset which is debt free. The investment returns will vary between properties but generally in Essex gross yields will range between 4% - 5%. In addition, providing property prices rise over time the owner also benefits from seeing their asset grow in value. These accumulative benefits make property a popular choice for investors.
Essex has great road and rail links into London, good schools, open countryside plus lots of leisure facilities. That’s why several towns and cities in the County have featured amongst the top locations for investment property across the UK, with Colchester being the latest to have been mentioned as a buy to let hotspot
With this in mind, we have picked our investment property of the month, currently on the market for £142,000 with a projected rent of £595.00 pcm thus generating a gross yield of 5%.
** CHAIN FREE ** Beresfords are delighted to offer for sale this one bedroom property located in the popular Highwoods area with excellent access to the A12 and bus and road links to Colchester North station.
For further information contact Tessa at our Colchester Lettings Office.