Myth-busting – Electrical Safety installations Act 202011:19 AM, 3rd August 2020
About 2 weeks ago 84
Hi all! Just hoping for a little advice or even a ‘what you would do not his situation’ approach.
I’m a relatively new landlord and getting my second property, so I have zero experience with decisions like this. Property is in Leeds city centre.
Was about to jump in on a 2 bed (new build) for 220k. Before pulling the trigger though there is a 3 bed in the same complex built in an earlier phase, it’s a 3 bed duplex with an extra parking space. It’s 240k so 20k extra. The purchase price isn’t an issue. In terms of rent, I could rent the 2/3 bed for 100-200 more pcm.
I’m as concerned about capital growth as I am yield,
Targeted Tenant in Leeds would be young professionals from what I’ve researched and spoken to local agents about, but also a healthy variation to that.
So my question is which one would you go for? Which one would be more likely to bring better net income?, i.e. longer lasting Tenants, less void periods etc
Additional information. 2 bed flat is on a 6th floor with a lift. 3 bed duplex flat is on the 3rd floor but no lift. 3 bed has a better/bigger living room. 3 bed had a Tenant already, 2 bed is brand new.
In my head the 3 bed is better ‘value’, but given that a 3rd floor 3 bed doesn’t exactly suit a family, is that 3rd bedroom pointless and most Tenant’s would care/pay more for?
Any advice is appreciated just o help me make a choice… Thanks
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