Thursday 11 September 2014

What to look for when buying property in Chelmsford...

I was talking to a landlord recently and they asked me for my opinion on what to look for when purchasing a Buy to Let property. One piece of advice I was able to offer , was that a good property should sell easily when you need to release funds. So, if you are a landlord considering buying a property to let out, you want to buy a property that is saleable.

You can work out how saleable the properties in a particular street are by comparing the number of house sales to the number of properties in that street. The higher the number, the more saleable the properties are.

So, having done a bit of research, in Chelmsford, one of the most saleable streets is Wolseley Road, it’s a small-ish road with only 23 properties in the street but in the last 10 years, there have been 33 property sales which is an impressive 143% sales to properties. Other streets in the top 10 include Grove Road at 100%, Lupin Drive at 96%, Parkinson Drive at 93% and Marconi Plaza at 89%. 

Whether you are landlord of ours or not, feel free to pop into our office on Duke Street for our opinion on what to invest in or not, as the case may be.

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