Eyes On… This Weeks Investments In Newark

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This weeks round up of new properties for sale in NG24, up to a value of £150,000.

A quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: Milner Street, Newark
Type: 2 bed end of terrace
Asking Price: £149,950
Estate Agent: Gascoines 01636 813245
Condition: Light decorating required
Rent Range: £575 pcm
Yield: 4.6%
Comments: A little dated on the décor. Spacious 2 bed in a very popular street.

Hannah’s Star Buy
Address: 3 Willow Road, New Balderton
Type: 2 bed semi detached bungalow
Asking Price: £119,950
Estate Agent: Richard Watkinson 01636 611811
Condition: In need of modernisation
Rent Range: £600 pcm
Yield: 6%
Comments: Dreadful bathroom but a great renovation project. Get the lawnmower ready.

Address: 33 Rubys Walk Fernwood
Type: 2 bed terraced house
Asking Price: £117,500
Estate Agent: Newton Fallowell 01636 675175
Condition: Decent condition
Rent Range: £550 pcm
Yield: 5.6%
Comments: Ideal for tenants. Wooden floors and modern presentation. Low maintenance garden.

Address: Elizabeth Road, Newark
Type: 3 bed semi detached house
Asking Price: £117,000
Estate Agent: Now Homes 01636 858311
Condition: Decent condition
Rent Range: £575 to £625 pcm
Yield: Up to 6.4%
Comments: Decent family home. Good sized garden.

Address: 112 Wolsey Road, Newark
Type: 3 bed semi detached house
Asking Price: £115,000
Estate Agent: Newton Fallowell 01636 858094
Condition: No internal photos
Rent Range: £600 pcm
Yield: 6.2%
Comments: No need to go to the park. Appears messy outside so can only guess about inside.

Address: Wentworth Corner, Newark
Type: 2 bed terraced house
Asking Price: £105,000
Estate Agent: Winkworth 01636 611666
Condition: Needs a more neutral makeover
Rent Range: £500 to £525 pcm
Yield: Up to 6%
Comments: Burgandy bathroom suite. Headache inducing wall colours. Needs a new bathroom suite and a few liters of light paint.

Address: 3 Currie Road, Newark
Type: 2 bed terrace
Asking Price: £86,950
Estate Agent: Richard Watkinson 01636 611811
Condition: Modernisation required
Rent Range: £495 to £525 pcm
Yield: Up to 7.2%
Comments: Green carpet. Dated kitchen and bathroom, reminds me of a sauna.

Address: 29 Birch Road, Balderton
Type: 1 bed apartment
Asking Price: £59,950
Estate Agent: Newton Fallowell 01636 858094
Condition: Some Modernisation required
Rent Range: £350 pcm
Yield: 7%
Comments: Looks in decent condition but the deep green avocado bathroom suite needs to go.

If you’ve seen a property in Nottinghamshire and would like a detailed report on it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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Eyes On… This Weeks Investments In Newark

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This weeks round up of new properties for sale in NG24, up to a value of £150,000.

A quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: 5 Brewers Wharf, Newark
Type: 2 bed townhouse
Asking Price: £147,000
Estate Agent: Richard Watkinson 01636 611811
Condition: Some modernisation required
Rent Range: £525 pcm
Yield: 4.28%
Comments: Kitchen & bathroom could do with a little upgrade. Bizarre carpet choices.

Address: 4 Handley Court, Newark
Type: 2 bed semi detached
Asking Price: £139,950
Estate Agent: Newton Fallowell 01636 675175
Condition: Decent condition
Rent Range: £525 pcm
Yield: 4.5%
Comments: Ready to move into. Plenty of clothes storage.

Address: 15 Middleton Road, Newark
Type: 3 bed semi detached
Asking Price: £130,000
Estate Agent: Newton Fallowell 01636 675175
Condition: Good condition
Rent Range: £575 to £595 pcm
Yield: Up to 5.49%
Comments: Very well presented family home. Ready to move into.

Address: North Gate, Newark
Type: 2 bed terraced house
Asking Price: £129,999
Estate Agent: Let It 01636 705868
Condition: Good condition
Rent Range: £525 to £550 pcm
Yield: Up to 5%
Comments: Very floral but very well presented. Immaculate gardens.

Address: Albert Street, Newark
Type: 2 bed terraced house
Asking Price: £125,950
Estate Agent: CPG 01636 345045
Condition: Decent condition
Rent Range: £575 pcm
Yield: 5.47%
Comments: Moderate condition but quite cluttered. May need a little modernising once empty.

Hannah’s Star Buy
Address: Charles Street, Newark
Type: 2 bed terraced house
Asking Price: £124,950
Estate Agent: Haart 01636 703141
Condition: Decent condition
Rent Range: £550 to £575 pcm
Yield: Up to 5.5%
Comments: Lovely garden. Popular location for families.

Address: 16 Moulton Crescent, New Balderton
Type: 3 bed end of terrace
Asking Price: £119,950
Estate Agent: NOW Homes 01636 858311
Condition: Decent condition
Rent Range: £530 to £550 pcm
Yield: Up to 5.5%
Comments: Generally tenant ready. Upstairs is a little tired.

Address: Grange Road, Newark
Type: 3 bed semi detached
Asking Price: £119,000
Estate Agent: Alasdair Morrison 01636 700888
Condition: Modernisation required
Rent Range: £550 to £595
Yield: Up to 6%
Comments: Dark and dated. Burgandy bathroom suite and stone lions. A real treat.

Address: Barnby Gate, Newark
Type: 2 bed terrace
Asking Price: £114,950
Estate Agent: CPG 01636 345045
Condition: Decent condition
Rent Range: £525 pcm
Yield: 5.48%
Comments: Nicely presented family home. Benefits from an attic room.

Address: Mill Gate, Newark
Type: 2 bed terrace
Asking Price: £95,000
Estate Agent: Jon Brambles 01636 613513
Condition: Modernisation required
Rent Range: £450 to £495 pcm
Yield: Up to 6.25%
Comments: Never seen a yellow kitchen before. Needs updating but has a spacious lounge with fireplace.

Address: Ash Road, Newark
Type: 2 bed flat
Asking Price: £79,950
Agent: Jon Brambles 01636 613513
Condition: Modernisation required
Rent Range: £395 to £400 pcm
Yield: 6%
Comments: That pink bedroom has to go. The kitchen could do with new units.

If you’ve seen a property in Nottinghamshire and would like a detailed report on it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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Eyes On… This Weeks Investments in Newark

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This weeks round up of new properties for sale in NG24, up to a value of £150,000.

A quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: Grange Road, Newark
Type: 3 bed semi detached
Asking price: £149,950
Estate Agent: CPG 01636 345045
Condition: Decent condition.
Rent Range: £575 – £625 pcm
Yield: Up to 5%
Comments: Would benefit from new kitchen units. Nice garden. Neutral décor.

Address: Simpson View, Balderton
Type: 3 bed mews house
Asking price: £145,000
Estate Agent: CPG 01636 345045
Condition: New build
Rent range: £595 – £625 pcm
Yield: Up to 5.1%
Comments: Brand new and ready to move in. Quite basic.

Address: 33 Nelson Road, New Balderton
Type: 2 bed semi detached bungalow
Asking Price: £137,500
Estate Agent: NOW Homes 01636 858311
Condition: Some modernisation required
Rent Range: £575 pcm
Yield: 5%
Comments: A little dated but looks cared for. Popular area of Balderton.

Address: 37 De Caldwell Drive, Newark
Type: 2 bed end of terrace
Asking price: £129,995
Estate Agent: Richard Watkinson 01636 611811
Condition: Nicely presented. Ready to go.
Rent range: £595 pcm
Yield: 5.5%
Comments: Attractive property in good condition.

Address: Barley Way, Newark
Type: 3 bed end of terrace
Asking Price: £129,950
Estate Agent: Martin & Co 01636 605006
Condition: Ready to rent
Rent range: £520 – £550 pcm
Yield: Up to 5%
Comments: A compact but decent family home. Impressive toy mountain.

Address: 7 Coopers Yard, Newark
Type: 2 bed townhouse
Asking price: £129,950
Estate Agent: Alasdair Morrison 01636 700888
Condition: Light refurbishment required.
Rent range: £550 pcm
Yield: 5%
Comments: Awful kitchen floor. Little tired. Popular location.

Address: 48 Bowbridge Road, Newark
Type: 2 bed terraced house
Asking price: £125,000
Estate Agent: Richard Watkinson 01636 611811
Condition: Good condition
Rent range: £525 – £550 pcm
Yield: Up to 5.3%
Comments: If you like wallpaper, you will love this house. Well cared for family home. Neat & tidy. Good location.

Address: Hill Vue Gardens, Newark
Type: 2 bed semi detached house
Asking price: £124,950
Estate Agent: Jon Brambles 01636 613513
Condition: Light refurbishment required
Rent Range: £435 – £450 pcm
Yield: Up to 4.3%
Comments: Awful walls and carpet combo. Wrist watch on the wall. Decent garden, with gym.

Address: Albert Street, Newark
Type: 2 bed terraced house
Asking Price: £104,950
Estate Agent: Winkworth 01636 611666
Condition: Good condition. Well kept.
Rent range: £495
Yield: 5.65%
Comments: Smallest kitchen ever? Attractive courtyard garden. Large master bedroom.

Hannah’s Star Buy of The Week
Address: 7 Century Street, Newark
Type: 2 bed terraced house
Asking Price: £94,950
Estate Agent: Jon Brambles 01636 613513
Condition: Some decorating required.
Rent Range: £495 pcm
Yield: 6.2%
Comments: Make sure you shut the door when showering. Popular location close to town and schools.

Address: Goldstraw Lane, Fernwood
Type: 2 bed flat
Asking Price: £89,950
Estate Agent: Newton Fallowell 01636 675175
Condition: Tenant ready.
Rent range: £500 pcm
Yield: 6.6%
Comments: Neutral décor and wooden floors so ideal for renting out. Watch out for service charges.

Address: Standish House, Grange Road, Newark
Type: 1 bed flat
Asking price: £62,500
Estate Agent: Newton Fallowell 01636 675175
Condition: Basic
Rent range: £350 pcm
Yield: 6.72%
Comments: Ready to rent. Wood floors and neutral décor. Range of rotary dryers to choose form in the communal garden.

If you’ve seen a property in Nottinghamshire and would like a detailed report on it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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How to Spend £100,000 in a Day

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If you happen to have £100k in your pocket, what could that get you in Nottinghamshire?

A key part of our service is offering impartial advice to investors. They always want to know where to buy, what to buy and how much return they will get.

I have taken a look at the market today to give you an insight into the type of property available in this price bracket. Sometimes with change to spare.

Nottingham
For £100,000 you can buy this 1 bedroom apartment in the Lace Market area of Nottingham.
It is a first floor apartment in a warehouse conversion.
For the price you get 364sq ft. It offers open plan living with a combined kitchen/lounge space, which leads down a corridor to the bedroom. The only closed off space is the bathroom. There is no outdoor space or balcony.
It is a very nice looking apartment and would of course be a hit with young professionals in Nottingham.
Typical rental for this apartment would be £525 per month.
This gives a potential yield of 6.3%

Mansfield
For £98,000 you can buy this 3 bedroom semi-detached house in Mansfield Woodhouse. For the price you get approximately 800 sq. ft. of living space.
Lounge, dining room & kitchen/breakfast room on the ground floor. Upstairs are 3 bedrooms and a bathroom. Garden to the rear.
This type of property would be ideal for a family.
Typical rental for this house would be £575 per month.
This gives a potential yield of 7%

Newark
For £99,950 you can buy a 3 bedroom terraced house on Century Street.
For the price you get approximately 700sq ft. of living space. Lounge, dining room, kitchen & bathroom on the first floor. On the second floor are 3 bedrooms and a shower room. Garden to the rear.
This type of property would be ideal for a family.
Typical rental for this house would be £575 per month.
This gives a potential yield of 6.9%

All 3 properties offer decent returns on your investment and the results are typical for the type of property and location, in this specified price bracket of £100,000.

What this shows is that you can own considerably more bricks if you invest in the Mansfield or Newark area.

Apartments in the city centre will always be popular but will have a higher turnover of tenants.

Investing in a 2 or 3 bed house suited to families with children you are likely to get longer term tenants, especially if the property is in catchment for a good school.

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Eyes On… Milton Street, New Balderton

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Milton Street

This week we are talking about this 3 bedroom semi detached house on Milton Street, New Balderton.

If you are looking to invest then this house is for sale, complete with tenants. Bargain.

It has 3 bedrooms, a lounge, a dining room and a kitchen, so it certainly offers spacious living accommodation.

Milton Street is in a popular area just off London Road. It is very close to the Grove Leisure Centre and has a family friendly pub across the road.

It is next door to Serendipity, an excellent childrens nursery and is within catchment for John Hunt Primary School.

Personally I think the inside is looking a little tired and dreary. It would certainly benefit from a lick of paint and carpets that weren’t quite so brown.

The kitchen appears to be a decent size but if the floor and worktops were lightened up it would make a huge difference.

The current tenants have been living there since 2010 and they pay £450 per month.

This is on the market for £109,950

The last 3 sales on the street were for:
£103,500 in October 2011
£162,550 in March 2014
£130,000 in May 2015

The tenants are currently paying £450 per month.
This gives a yield of 4.9%

Based on rental values in the area I believe this property could rent for a higher value, potentially up to £525 per month but it would need a little money spending on updating the décor.

If it was to rent out at £525 per month, this would give a yield of 5.7%

The Estate Agent is Richard Watkinson 01636 677154

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Eyes On… Sleaford Road, Newark

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Sleaford Road

This week we are talking about this 2 bedroom terraced house on Sleaford Road in Newark.

This property appears to have been recently renovated and dressed ready for sale.

The bathroom is downstairs which may put some buyers and tenants off. Upstairs there are 3 bedrooms. Two of them are double rooms and the third is accessed via the second bedroom. This is quite an unusual layout.

Based on this configuration, I would suggest it would be suitable for a couple, or perhaps a family with a baby.

It does throw up the fact that it has even more potential. With the bathroom downstairs and three bedrooms upstairs this could be re worked. An en-suite could be created upstairs, or perhaps the full bathroom be moved upstairs. This would leave an extra room downstairs for a utility room or a larger kitchen diner. These options would need to be carefully considered against the potential resale value.

Personally, I think bedroom 3 would make the ultimate walk in wardrobe.

I am hopeful that the garden paving will be finished.

Having a new boiler is music to a tenants ears and it also has new double glazing which is definitely an added bonus.

Sleaford Road is a popular street for rentals. It is a main through road to Coddington and accesses the top of the industrial estate.

Parking could be tricky on the street as it does get quite busy.

This is on the market for £99,995

The last 2 sales nearby on this street were £106,000 in 2008 and £164,000 in 2013.

Typically this type of property would rent for £550 per month.
Potential yield of 6.6%

The Estate Agent is Richard Watkinson 01636 677154

We currently have tenants waiting for properties in the Newark area.
If you have a rental property or are thinking of investing, please contact us.

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Eyes On… Charles Street, Newark

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Charles Street 2

This week we are talking about this 2 bedroom terraced house on Charles Street in Newark.

I have first hand experience of how quickly property moves on Charles Street so I don’t think this one will stay on the market for long.

Charles Street is situated just off London Road, in catchment for Barnby Road Academy and close to the centre of Newark. I might also add it is in close proximity to a great child and dog friendly pub ‘Oscars’ which is a favourite of the locals.

Given the close proximity to the school, this house would appeal to a family with young children. However, the second bedroom is a single room so this would be something to consider.
The house would equally suit a couple or indeed single occupancy.

The property looks in pretty good condition, perhaps a little dated here and there. The kitchen might benefit from a little uplift, a new cooker, perhaps updated units. Some of the curtains have fallen out with the curtain poles but hopefully this won’t be a deal breaker.

A south facing garden is a huge plus point and this will defeinitely entice potential tenants as we gear up for our next ‘hot’ summer…

Charles Street has a variety of property styles with a mixture of semi-detached and terraced houses. It continues to be a popular street.

This is on the market for £119,950
Similar properties on the street sold for £107,000 in May 2015 and £110,000 in June 2015.

Typically this type of property would rent for £550 per month.
Potential yield of 5.5%

The Estate Agent is Sell It 01636 701967

We currently have tenants waiting for 2 bed properties in the area.
If you have a rental property or are thinking of investing, please contact us.

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Tenants Checklist for Moving Out

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What to do when you move out of your rented property.

Moving Out…

Moving can be a stressful time as there are so many things to try and remember. So many people to contact. So little time to do it all in.

As a tenant you may or may not realise what your duties or responsibilities are. We hope this checklist will offer a useful guide for you.

When…

Typically you are required to give the Landlord 4 weeks/1 month written notice depending on your tenancy agreement.

What…

Ensure you have packed, removed or thrown away any furniture or household items belonging to you but remember to leave or replace any items that were provided by the Landlord. If in doubt, you should be able to refer to the inventory.

Hand in your keys to the Landlord or Agent at an agreed time. This is typically by 12 noon on the day the tenancy ends.

Who…

Council Tax – you must inform your local authority when you have a moving date so they know when the property will be vacant from.
Gas & Electricity – contact them with up to date meter readings and provide your forwarding address for the final bill.
Mail – you can arrange for Royal Mail to re-direct your mail to your new address. There will be a small charge for this. Typically prices start from £29.99
Telephone/Broadband/TV – You should let your provider know that you are moving as early as possible as they may have minimum notice periods and you can agree when the service will be stopped.
Water – Contact your water authority when you have a moving date.
Benefits – Once a move date is known & you have a forwarding address you need to contact your benefits agency.
Insurance – Once a move date is known and you have a forwarding address. This applies to all insurance policies you may have relating to the property, vehicles, pet & personal.
TV Licence – Once a move date is known.
DVLA – Once a move date is known.
Bank/Building Society – Once a move date is known and you have a forwarding address.

On the day…

Turn off the water, electricity & gas. This means you will not get charged for any energy or water used after you move out & have settled your final bills.
Final look round. Check all cupboards, wardrobes and drawers. Make sure the property is handed back as you took it so that nothing is deducted from your deposit. Again refer to your inventory.
Hand in your keys to the Landlord or agent at the agreed time.

Why…

When you move into your new home you can start afresh in the knowledge & comfort that you successfully contacted all service providers & closed down or forwarded your accounts. This should remove any room for error or misunderstanding. By doing all of the above it will make the moving process more manageable & a lot less stressful.

As a tenant you will want to be able to provide good references so leaving the property clean & tidy will be beneficial to you for the future.

Also, it is critical that you remain on the electoral roll & sustain a credit rating so following this checklist should prevent any loss of communication.

Where…

You can access this information in a handy printable checklist here, under “Useful Links”.

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The most common frustration among landlords

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One of the biggest gripes we hear about from landlords are “setup” fees. Or “tenant find” fees or “advertising” fees on a fully managed service.

However your current letting agent chooses to call it, it’s the fee they charge whenever a new tenant moves into your property. The amount will vary between £200-300+VAT. Usually this means when they also add on the monthly management fee you are left with very little to pay your mortgage.

Agents justify this upfront fee claiming it covers the cost of moving the tenant in, drawing up the tenancy agreement, referencing and credit checking them. Funnily enough this is also what they tell the tenant when charging the tenant an application fee of around £200+VAT.

So when the tenants are already covering the costs of moving them in, most landlords feel like the setup fees are really just money for old rope…

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