So I’ve just stumbled across this lovely property that is being marketed by Hamptons International (Rickmansworth) and have to say, I love it!
2 bed flat in Grove Mill Lane
Now does the fact the I love it make it a great buy to let investment?????  In a word……..no.  However if like me you like the setting and think it has potential for long term growth you might consider it.
Let’s look at the numbers.  I think you could rent this for up to £1,395 per month which certainly is a premium for a 2 bed flat in Watford but it’s clearly been renovated with care and is in a fantastic setting.  On that basis your yield would be 5.1% if you can buy it for the asking price of £325,000 (unlikely).
Down sides to this are you are limiting your tenants to only those with cars. It’s not very close to the town centre or public transport links and it’s not huge.  But I personally think the flat and the setting massively outweighs that and you would have no problem finding tenants that are happy to pay a premium to be in this location.
Perhaps not the most conventional of buy to let properties but I think this would work. I suspect as with most of the properties in Watford there will be a lot of interest in this so if you like me can’t resist it’s charm then it might be worth picking up the phone to Hamptons to arrange a viewing?
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