Odd shaped garden – not sure if I should invest?

by Readers Question

14:42 PM, 25th July 2014
About 4 years ago

Odd shaped garden – not sure if I should invest?

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Odd shaped garden – not sure if I should invest?

I  would like some advice on purchasing a house with odd shaped garden, for Buy to Let purposes.

The house is perfectly placed, in  good condition, but the garden is sort of “V” shaped, just 7 feet at the back. Open Garden area is still available overall around 25-30 feet.

The area is in demand due to good schools,trading estate and there hasn’t been a dearth of private tenants ever to the best of my knowledge. I live 2 miles away from this house and know about the local area, demand etc., but I am not sure if this “garden” is of a big issue for tenants, future price increases, or sale of the house.

Multiple offers have been already placed for the property. Its around £15k less than other houses in the similar area. The Estate Agent claims this shouldn’t have an effect on rent or tenant demand.

Any pointers or experiences are much appreciated.

Thanks in advance.

Bhan

Garden Plans

Garden Plans

 

100xodd



Comments

Neil Patterson

16:00 PM, 25th July 2014
About 4 years ago

Hi Bahn,

Please do not mistake me for any kind of garden expert, but I am guessing the bigger the property and the more people likely to stay the more the size of the garden will make a difference.

Eg. a one or two bed property will be less affected than a 4 bed family home.

Can I ask what size the property is as a whole, what the other gardens are like in the same street and who you intend to let to?

b

16:24 PM, 25th July 2014
About 4 years ago

Thanks for quick response Neil. This is 3 bed end terraced house. apart from adjacent 2 houses on both ends all other houses have proper rectangle shaped gardens. My future tenants would be single let for a family with/without kids.
No rent-2-rent Or single room lets

Neil Patterson

16:38 PM, 25th July 2014
About 4 years ago

Reply to the comment left by "bhanu c" at "25/07/2014 - 16:24":

Hi Bahn,

What is the purchase price so we can see how the 15k lower price compares as a percentage and what rental income would you expect to get per month?

b

16:45 PM, 25th July 2014
About 4 years ago

£232k.. expected rent minimum £1100. Previous tenant paid £1000 and stayed for an year.

Colin Dartnell

16:55 PM, 25th July 2014
About 4 years ago

Hi Bahn

I think the answer is in your own question - Multiple offers have been already placed for the property. - Seems the garden is not having much effect on selling it and if you can achieve a similar rent to the other houses in the area I would personally go for it.

Good Luck

Neil Patterson

16:55 PM, 25th July 2014
About 4 years ago

Ooh a tough one to call without Local Knowledge and seeing the garden.

If you are keen on the property I would invest a couple of hundred pounds max on a valuation survey from a local big chain like Countrywide who the banks use and get a report and opinion from them directly.

Sometimes it can just come down to a gut feeling. What is your gut telling you?

b

17:04 PM, 25th July 2014
About 4 years ago

My gut feeling says just go ahead... lots of +ve parameters. but discomfort somewhere may be thinking emotionally 🙁

As I couldn't upload attachment, so sent you email with the picture.
To add. this property is in South East ( Slough vicinity) although nearest railway station ( future cross rail ) is 2 miles away...

Neil Patterson

17:10 PM, 25th July 2014
About 4 years ago

Thanks Bahn,

I have added the plan drawing above in the article.

Although a bit of an odd shape there are others similar and some worse, so it is certainly not the odd one out/poor relation in the street.

15k less as a guestimate sounds Ok to me and I agree with Colin too 🙂

b

17:38 PM, 25th July 2014
About 4 years ago

Thanks a lot Neil and Colin, let me put an offer and see what happens...

Bill Williams

10:12 AM, 26th July 2014
About 4 years ago

Most tenants see gardens as something to be ignored.


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