The Chelmsford Property Blog
Last week, I spoke to 1 of my landlords and she asked me if the number of bedrooms in a property had any impact on the return she could easily get. In Chelmsford Currently, the average rent for a one-bed property is around £749per month with the average value of £184,683. This means an approximate come back/yield of 4.8% per year. That is of course, the common.
There are one-bed apartments on the marketplace for lease at a higher price than some two-bed apartments. In fact, somebody bed flats in Chemsford can attract rents in the middle £800’s whilst some transformed terraced houses with flats in them can be rented for less than £550 monthly.
This means produces on one mattresses can range between 3.5% and 5.5% (around). Two-bed apartments in Chelmsford can cost between £350 anywhere,000 in one of those modern City Center developments and only £150,000 in the Springfield area. Again, rents can be quite varied, ranging from over £1300 per month for a few luxury City center apartments in Chelmsford to £700 monthly in Broomfield or about Springfield.
However, looking at the average lease for a two bed apartment in Chelmsford, Month with the average value being £252 I calculate it to be £959 per,171 gives a return/yield of 4.5% per yr. Whilst the difference in the yields should be taken into account, it is only one of many factors you should think about before buying a house.
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Whilst two rooms are more expensive to buy, they will let better always. Do they sell better? Well, 50% of both bed apartments on the marketplace in Chelmsford at this moment in time can be purchased subject to contract in comparison to 52% of 1 1 bed apartments – so very little difference there. It boils down to the property and kind of tenant really.
Two beds appeal to small families, and professional sharers, which bring both advantages and disadvantages to the landlord, but one beds have better yields, although with a one bed you have a tendency to get a higher turnover of tenant. It depends what you would like from your investment. I know the lettings market in Chelmsford therefore I can help you what you can expect to achieve in the lease and exactly how it goes up in value jointly. If you want any advice on choosing properties, come and see us at our office on Duke Street.