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Joined: Jul 2012
Posts: 79
Member
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OP
Member
Joined: Jul 2012
Posts: 79 |
Was thinking of buying a house then renting it out then when its paid off getting it back.
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Joined: Sep 2012
Posts: 247
Addict
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Addict
Joined: Sep 2012
Posts: 247 |
All depends on how much you have to spend and how much you expect in rent.
I live in Moreton and would like ot think I live in a nice area and I know houses are rented £600+. But then you can be looking at a £120k + to buy. Again it depends on what you are looking for!
Inveniam viam aut faciam
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Joined: Oct 2012
Posts: 26
Newbeee
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Newbeee
Joined: Oct 2012
Posts: 26 |
Buy the best house that you can afford in the best area - in most instances this will involve some repair & maintenance. Prepare to part with at least a 30% deposit and don't expect the rent to cover the mortgage, when rates go up again a lot of people will find themselves having to fund this through a smaller disposable income. See what the banks have by way of repossessions.
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Joined: Apr 2009
Posts: 1,456
Forum Addict
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Forum Addict
Joined: Apr 2009
Posts: 1,456 |
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Joined: Jan 2011
Posts: 255
Addict
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Addict
Joined: Jan 2011
Posts: 255 |
Birkenhead North end Should be able to buy a whole street for 100,000,
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Joined: Jul 2012
Posts: 79
Member
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OP
Member
Joined: Jul 2012
Posts: 79 |
Under 150k house I had in mind. A particular house that will rise in value.
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Joined: Jan 2011
Posts: 255
Addict
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Addict
Joined: Jan 2011
Posts: 255 |
Try round slatey road area oxton or prenton.
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Joined: Jul 2011
Posts: 720
Veteran
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Veteran
Joined: Jul 2011
Posts: 720 |
There are some 3 bed semi detached houses in Bromborough & Eastham on the market now asking less than £150k. and from what I can tell on rightmove.co.uk most of them would rent at around £650 ish a month if you were to purchase one. Good Luck with it.
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Joined: Oct 2008
Posts: 5,210
Forum Veteran
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Forum Veteran
Joined: Oct 2008
Posts: 5,210 |
If you are not going to live in it yourself, why not buy a pub and convert into as many flats as you can for rent. Not the best of areas ,the Bidston Pub is up for sale (£190,000) click for pic
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Joined: Apr 2009
Posts: 1,456
Forum Addict
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Forum Addict
Joined: Apr 2009
Posts: 1,456 |
For £300,000 you can have "The Neppy" or "Peggy Gadflys" in Victoria Road New Brighton, complete with secret tunnels!!
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Posts: 2,354
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