Maisonettes are not always the first choice for investors but they do rent well, either furnished or unfurnished, and generally offer good yields due to the attractive purchase price. Provided the property is sensibly priced they can provide a great option for landlords and are well worth considering for the first time investor.
We spent some time looking, in detail, at three properties currently available for sale within the SN5 postcode area. One needed some refurbishment work and the other two were almost ready to go, once a few legal requirements were put in place. Taking legal costs, pre-tenancy work, agency fees etc. into account, all three properties could achieve a yield of over 6%. When you also look at the current increase on sale prices, any one of these properties could see a capital growth of over 4% per year based on recent performance.
So when looking to invest it pays to spend some time looking at what the market has available and really doing your sums. Do not be too optimistic, just work on hard facts. Talk to your agent, as they should understand and be able to advise you on how the market is performing.
Alternatively, you can talk to me, Dave Whaley at Martin & Co Swindon on 01793 487 760, for complimentary advice.