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BTL on Bungalow ?
guy999
Posts: 325 Forumite
Currently have a BTL, however due some cash soon which would be good deposit on a 2nd BTL.
However saw a bungalow for 100k up forsale.
Reckon seems a bit underpriced so must need work doing to it.
But not really sure if much of market for rented bungalows, as to me it a house for older people who probably wouldnt rent.
Anybody have ideas, will ask estate agent but guess he's gonna be biased
Cheers
However saw a bungalow for 100k up forsale.
Reckon seems a bit underpriced so must need work doing to it.
But not really sure if much of market for rented bungalows, as to me it a house for older people who probably wouldnt rent.
Anybody have ideas, will ask estate agent but guess he's gonna be biased
Cheers
A shadowy flight into the dangerous world of a man who does not exist.
A young loner on a crusade to champion the cause of the innocent,
the helpless, the powerless, in a world of criminals who operate above the law.
A young loner on a crusade to champion the cause of the innocent,
the helpless, the powerless, in a world of criminals who operate above the law.
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Comments
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We had a two-bedroom ex-Council bungalow to rent, there were several elderly people wanted it. They tended to be people who were in a Council flat, wanted a bungalow and couldn't get one.(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
Can you see a capital gain on the property and/or can you obtain a rental equal or higher than your mortgage payments, if Yes to either then go for it.
Also consider that any costs for remedial works on the property will help to reduce your taxable profits for the accounting/tax year.0 -
Not a direct answer to the OP, but just a thought for those who do rent out ground floor flats / bungalows with the idea of getting elderly tennants.
We would have loved to rent a bungalow as we have a disabled child and all on one level would have been fantastic. Sadly as soon as LLs found out about disability they didn't want us - due to possible adaptions such as handrails.
If you are thinking about renting a bungalow to the elderly then please be aware that *some* may benefit from something as simple as a handrail and don't be too quick to refuse on those grounds.
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I'm in my mid 30's & rented a bungalow a few years ago & loved it. I would consider renting one again if I could as they are usually detached and have a secluded garden which are bonuses to me. Unfortunately they don't often come up for rent where I live but there are lots available to buy, most of which have been modernised, so I don't think they are just seen as property for older people any more.0
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Bungalows are great!! We bought one 7 years ago for 100k modernised it and its now worth over 300k. On our avenue they are all detached bungalows and yes, there are quite a lot of elderly people in them but also younger ones like us. we have 2 teenage sons.
With a bungalow there is usualy lots of potential.:T0 -
Thanks for replys
Property is 2 bedroomed semi
Rang estate agent today, said came on market last Wednesday, but havent got keys yet as its been cleared out, therefore think it probably was old persons and been cleared out by family
Therefore any guesses to what my initial offer should be based on no chain and quick sale
CheersA shadowy flight into the dangerous world of a man who does not exist.
A young loner on a crusade to champion the cause of the innocent,
the helpless, the powerless, in a world of criminals who operate above the law.0 -
Don't see the point anymore in offering advice to people who only want to be agreed with...0
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