STRing. Good idea for my circumstances?

Romani_Ite_Domum

RabbitMad wrote: »

Good Idea? Personally I'd say No. I think your house should primarily be your home and not an investment.

I totally agree with this.

We are not doing it to make money, we would like to move to a better house. We cannot afford to do that by buying but we can by STRing

Pobby

STR`s ARE NOT ALLOWED TO INSERT UMBRELLA HANDLE`s UP THERE BOT BOTS!

Doozergirl

pickles110564 wrote: »

Even at £900 you would not rent a £340k in our area, more likely to have to pay between £1200 to £1500 per month

In my area they are pretty much in line with the OPs. Perhaps £1000 for a property in that bracket, £1500 you'd be looking at a very large house indeed!

kingkano

I wish I could find the houses you guys can to rent. While renting is slightly out of line with mortgages here, definitely not that much!! a nice 3 bed semi is 1200 to rent and about 1300 for our mortgage. not an incredible difference.

mystic_trev

kingkano wrote: »

I wish I could find the houses you guys can to rent. While renting is slightly out of line with mortgages here, definitely not that much!! a nice 3 bed semi is 1200 to rent and about 1300 for our mortgage. not an incredible difference.

Where are you kingkano? If investors are getting those yields I might be interested in buying!

thelawnet

pickles110564 wrote: »

Even at £900 you would not rent a £340k in our area, more likely to have to pay between £1200 to £1500 per month

where's that? In wealthy Surrey, £1700/month gets you

http://www.findaproperty.com/displayprop.aspx?edid=00&salerent=1&pid=051772&agentid=04441

that is 5 bedrooms, 2 en suites, and substantial garden

£800,000 buys:

identical lounge, slightly smaller dining room, slightly smaller kitchen, a smaller 'family room' in lieu of one the bedrooms. No en suite bathooms (instead of two). Four bedrooms slightly larger than bedrooms in rented property.

Garden does not look particularly large in £800k property


£1700/month is about 2.5% yield on £800k.

I certainly can't imagine needing to spend £1500/month to live in a mere £340k property.

Snow_Dog

How about 2K+ to rent a 2 bed flat not 5 miles away from here:-

http://www.rightmove.co.uk/viewdetails-15379687.rsp?pa_n=1&tr_t=rent

thelawnet

Snow_Dog wrote: »

How about 2K+ to rent a 2 bed flat not 5 miles away from here:-

http://www.rightmove.co.uk/viewdetails-15379687.rsp?pa_n=1&tr_t=rent

Looks like that flat was listed for £995,000 (Apartment Twelve)

http://www.rightmove.co.uk/viewdetails-5554182.rsp?pa_n=2&tr_t=buy

and actually sold for £815,000

http://www.nethouseprices.com/index.php?con=sold_prices_street_detail&locality=POOLE&town=POOLE&street=SHORE+ROAD&postcode=&search_radius=&cCode=EW&year=&house_style=&house_age=&house_type=&find_postcode=&find_locality=&find_town=poole&find_street=shoreroad&eastingToSearch=&northingToSearch=&pcsaCode=BH13

I make that 2.9% yield. Not very impressive....

Snow_Dog

Well at least its on evening hill before the penninsular, I dont know what the appeal is about the houses on there with the threat of rising sea levels it'll only be a matter of a couple of meters and the 4th most expensive place in the world to live will be renamed atlantis.

kingkano

mystic_trev wrote: »

Where are you kingkano? If investors are getting those yields I might be interested in buying!

around Bromley area. there is a mixture of areas here tho. but I was comparing a say 260k house (what Im buying) which would rent for anywhere in the region of 1000-1400 dependant on exact location and condition etc. 5% yield?