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Do these numbers make sense?
natwill_3
Posts: 271 Forumite
had to go!
0
Comments
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Annual rental 250 x 52 = 13000
gross yield = 13000 / 22500 = 5.78%
if you could get 4% on your money elsewhere; 4% x 225000 = 9000 + service charge of 2000 =11000.
So out of the (13k-11k) 2k gain you have to cover agent fees, voids, repairs insurance etc.
Need to be confident of HPI to try this.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Thats what I thought, tho rent may be more like 260 a week, 250 minimum (that was level 2-3 years ago)
Interesting to know0 -
Seems quite cheap for a 2bed zone 2.
Also, I'm sure you could get more than 1000pcm in rent, if it is a genuine 2bedder, and not a 1bed with study.
Desirable parts of London were well insulated during the crash of the 90s, so you should be OK.
But then, who knows? 13% HPI per annum sounds like a market heading off a cliff to me, but I thought prices were daft last year, so clearly I know nowt.0 -
and again.............0
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Its cheaper than other similar flats in the area0
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Service charges can be a real killer in London.
Although, with hot water included 1500 actually isn't that steep.
I know someone who pays that and gets nothing for it. Just her front bush trimmed every six months... :00 -
:rotfl: ............0
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The Second bedroom, described as a double, is 10' 4" x 7' 6" ( 3.15m x 2.29m )
You'll get a double bed in there, but not a lot else.Warning ..... I'm a peri-menopausal axe-wielding maniac
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Did you mean that? Finbar Saunders was never that good!meanmachine wrote:Service charges can be a real killer in London.
Although, with hot water included 1500 actually isn't that steep.
I know someone who pays that and gets nothing for it. Just her front bush trimmed every six months... :0
Anyway, watch what can happen to the service charge as the energy costs part may be running behind compared to current values, so the energy cost may be about to take a hike.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Debt_Free_Chick wrote:The Second bedroom, described as a double, is 10' 4" x 7' 6" ( 3.15m x 2.29m )
You'll get a double bed in there, but not a lot else.
Lol...sadly round here that is a double!!!!
Seen some flats where that is the master bedroom size0
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