Ever made a big mistake buying property?

seven-day-weekend

There are several reasons I would not buy this house.

All the bedrooms are tiny. I would make the two downstairs rooms into one, with an ensuite.

Ex Locals Authority. Although not necessarily a problem,, I would need to know far more about the estate.

The kitchen is inadequate and needs money spending on it.

For a large house, attracting families with more than one car, the parking is inadequate.

I would do what others have said, either make it into a four bedroom with a master bedroom ensuite, downstairs, or even as a three bed with dining room and playroom.

kinger101

The location of the property (and it's current arrangement) means its really a property suitable for letting to students. Location wise, it's by no means in a bad area compared to many others in Nottingham.

It just fails as an investment as all the rooms are box rooms, so nobody wants to live there. Whoever put all the partitions was just a simpleton and didn't realize that potential tenants have a choice of where they live.

mumps

At Nottingham there is a nursing intake after Christmas, maybe February, and as your property is handy for uni and QMC it would be ideal for maybe 3 or 4 nursing students? Nottingham Uni has very little in the way of halls so lots of scope for letting to students.

I would make one downstairs bedroom with en suite and two bedrooms upstairs and make it a nice house that would attract good tenants. You would probably get a good return, sorry I'm not up to date with how much they are paying for student lets in Nottingham but should be easy to check out.

alchemist.1

Unfortunately it is one where you will need to spend more money on it before you can let it out. Even then it will be a long term investment before you recoup what you spent out.

Alternatively you could sell it but you will need to take a 10-15 k hit at best.