(covering reddish, dane bank, denton, debdale and gorton)

Month: November 2017

Prices by type in the last few months

An analysis of monthly changes in house prices should always be taken with a pinch of salt, particularly when looking at a very local area. To try to strip out some of the nuances, we’ve displayed flats and houses separately but you’ll see the usual amount of volatility.

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Total number of sales by quarter

The quarterly sales chart for the local area provides a detailed overview on how the market has performed in the last couple of years. Here we show the total number of property transactions every quarter. This is a useful way to look at how market liquidity has changed since the previous year, whilst accounting for seasonality.

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Steps Involved in Buying Your First Home

On the face of it, buying a home is considered to be a complicated and worrying process, but it does not need to be.

We can guide you through the process and can offer expert mortgage advice specific to your circumstances.

Buying a home takes a number of weeks, as there are a number of different factors that need to be taken into account.

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Three big reasons to be positive about the Reddish market

If you venture online, pick up a paper, or watch the news, any mention of the property market in the UK comes with a measure of doom and gloom these days. However, interest rates are still very low and are not likely to rocket up, so it’s not a remotely dangerous time to buy or sell a home. Here are our three reasons homeowners should be optimistic about the prospects for the property market in SK5.

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devon close, brinnington

Theo gives us the headlines of this buy to let opportunity on Devon Close which is currently tenanted achieving around a 6.5% yield!

https://www.julianwadden.co.uk/property-details/27356078/stockport/brinnington/devon-close

Devon Close, an ideal Buy to Let investment currently achieving a 6.5% yield! Give Theo a call for further details, 01614434022. https://www.julianwadden.co.uk/property-details/27356078/stockport/brinnington/devon-close

Posted by Julian Wadden Estate and Lettings Agents on Tuesday, November 7, 2017

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Keeping money aside for expenses

Renting a property is as simple as purchasing the property and letting it out, you need to ensure the property in maintained and that you money set aside to cover these expenses. Although lenders will typically require the rental income of your investment property to be at least 125% of your mortgage payment amount, this doesn’t always mean that the property will generate positive cash flow or give sufficient net profit to cover all the expenses of maintaining the rented property over the typical 15 to 20-year ownership.

As well as regular and one-off maintenance expenses, allowances need to be made for times when there may be no rental income. Tenants may stop paying their rent and the property is sometimes empty between tenancies, and you still need to be able to cover the mortgage and other costs during this time.

It is therefore vital that you budget properly to ensure that the investment is worthwhile and not going to cost you money month-on-month, before you commit to buying a property to let.

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