Buy to Let in Falkirk 1st Jan 2016
As we discussed in last month’s newsletter, location is key for buy to let investors. However landlords have a tendency to purchase in areas they are knowledgeable of in terms of property prices, monthly rents and the local amenities that attract tenants to an area.
It may well be worth considering unfamiliar territory, especially if you live in one of Scotland’s main cities. Towns on the outskirts frequently enjoy lower property prices, and therefore higher rental yields.
The Key Place is market orientated and, for buy to let landlords, can offer information and advice on how much properties are worth and where your next buy to let opportunity could come from.
This month’s newsletter is looking at buy to let investment properties in Falkirk.
Business analysts are suggesting that Scotland's Central Belt is set to be one of world's richest business hubs with 7 million residents by 2025. It has the highest population density within Scotland, thus presenting itself as an ideal buy-to-let investment area.
Investment Opportunity 1
Looking for an investment property to let out in Falkirk? Well this one is certainly one to consider…
It’s a spacious, well maintained two bedroom maisonette. It’s in a quiet street in Bantaskine near both Bantaskine Primary School and Falkirk High School. The photographs show it to be in good condition. For further details: http://www.zoopla.co.uk/for-sale/details/36255394#XpBhGIGr4swkJ1s8.97
It has just come to market with Your Move with an asking price of offers over £59,995. The property has been on the market since February 2015 and the price was dropped in early November 2015. Given this, I would have thought that you could get the property for around £62,000. I would expect this property to achieve rent of in the region of £450pcm, so when we work out the annual yield you could be looking at a gross return of 8.7%.
This is a pretty good return for an investment property of this type in Falkirk so I suggest that if you are interested, you better give the estate agent a call…
Investment Opportunity 2
Calling all landlords! Get in quick, this won’t be around for long as the property is in a popular part of Falkirk, it is centrally located it is fairly good inside and it is very reasonably priced.
This property is a two bedroom ground floor flat at in Stewart Road, Falkirk near the Tesco retail part and it is being sold by Move Quick. It is a good size although internally it could do with a wee bit of TLC.
It is priced at offers over £29,995 but Move Quick are know for pricing their properties cheaply so let’s say if goes for £40,000. An achievable rent of £425 pcm, this could generate you a very impressive annual yield of 12.8%.
For other buy to let investment opportunities, follow the Falkirk Property Blog: http://thefalkirkpropertyblog.blogspot.co.uk.
The buy to let market certainly seems set for continued growth. It poses a tempting prospect for anyone new to property investment, and existing landlords are already reaping the rewards, and adding to their portfolios. The Key Place is keen to work with people considering buy to let investing. We can help can source high yield properties in the areas in which you want to buy, find the best mortgage, complete the acquisition and fully manage your investment. Contact us now for further information.