I was talking to one of my landlords the other week, when the subject of flats came up and whether they would make a good investment. Flats are not always the first choice for investors but they rent very well and generally offer good yields. There is a strong argument that buying a flat these days is not an issue as they are sensibly priced, the error people made in the past was buying them at the start of this century for more than the price of a house.
If you are a landlord with a limited budget, you can still find a decent property to let in Andover. Typically, a two bedroom modern apartment can be bought for around £150,000 in the town centre of Andover in areas such as Heather Drive, Junction Road and similar areas – the average rent for a property here is likely to be around £695 per month. Just remember though, when considering a flat, do your homework and find out about service charges and the length of the lease as these will all impact your return, especially if you have to renew the lease.
If you would like our opinion on any potential investment, pop into our offices.