We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
Buy to Let in County Durham
Bluenose123
Posts: 26 Forumite
I currently live abroad but intend to move back to the UK in around 5 to 10 years time so looking at buying a property now in County Durham, letting it out whilst I live abroad and then moving into it when I return to the UK to live.
I will not need a mortgage as looking at modern properties under 100k which you can still get in this area. I have seen properties in Newton Aycliffe, Darlington, Crook, Bearpark, Quarrington Hill, Wingate, Murton, Seaham,Houghton le spring and Sacriston which all seem like good properties but looking for advice from people ( particularly landlords) from the area with regards
to how easy it is to find good tenants in these areas and any other areas they think I should be looking at in County Durham.
Also would be interested in recommendations for letting agents. I have been in touch with NMR lettings in Durham and DH1 in Sacriston so again interested in views on these agents with regards fully managed service
I will not need a mortgage as looking at modern properties under 100k which you can still get in this area. I have seen properties in Newton Aycliffe, Darlington, Crook, Bearpark, Quarrington Hill, Wingate, Murton, Seaham,Houghton le spring and Sacriston which all seem like good properties but looking for advice from people ( particularly landlords) from the area with regards
to how easy it is to find good tenants in these areas and any other areas they think I should be looking at in County Durham.
Also would be interested in recommendations for letting agents. I have been in touch with NMR lettings in Durham and DH1 in Sacriston so again interested in views on these agents with regards fully managed service
0
Comments
-
You are trying to do this the wrong way round.
You start with the kind of tenants you want to attract and then you buy a property that they would want to rent. You don't start with your budget because that might not buy anything that makes a good rental.0 -
You're probably best looking at the housing benefit rates and buying something where housing benefit will give you a solid return and taking DSS tenants. That will give you plenty of choice when it comes to tenants. If you can get a 2 bed property and get a rent of £450 plus per month then your return will be ok. You might not need to spend 100k to do that.0
-
OP why have you started a second thread on same subject0
-
-
Exactly AnotherJoe.0
-
If you are looking at Seaham,Houghton le spring, you might as well include Sunderland in your search, as only 2-5 miles away, but opens up more to you.“Quis custodiet ipsos custodes?”
Juvenal, The Sixteen Satires0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 349.9K Banking & Borrowing
- 252.7K Reduce Debt & Boost Income
- 453K Spending & Discounts
- 242.9K Work, Benefits & Business
- 619.7K Mortgages, Homes & Bills
- 176.4K Life & Family
- 255.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards