Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 3 weeks ago 48
Currently I am looking for a BTL property in South East London, budget is between 300¬350k. First I started to look at Peckham, New Cross area, Deptford (Zone2), which is my budget only allow 2-3 bed ex local flat. Yield would be high with this property.
Then I found if I purchased one in South Norwood (Selhurst – Thornton Heath) (Zone4), I could get freehold house instead within my budget. Relatively low yield would be fine.
My questions are:
1. Is South Norwood attractive to renters?
2. Could you tell me which part of South Norwood area you would recommend to buy-to-let?
3. I know many professionals and students would prefer to live in zone2, Peckham or New Cross would be easy to find tenants. But I am bit worried a property in zone4 means my target tenant would be only families? In other words, is there any professional and students or are any landlords have experience renting to this kind of tenant in the South Norwood area, zone4?
Many thanks in advance for any feedback!!
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