Rental Guarantee Scheme | Why there's never been a better time for renovation projects
http://bit.ly/11LQP5W
Rental Guarantee Scheme | Why there's never been a better time for renovation projects Most of our landlords use our guaranteed rental income scheme. We have our own list of tenants waiting to move into properties. But just in case there is a void period, should happen, and for some reason your property should be without a tenant, we offer a rent guarantee scheme . Houses in need of work were out of favour during the recession, but change is coming. Willinghurst Cottage near Shamley Green just outside Guildford came to the market in January with a price tag of £1.35 million. The last owner lived in it for 60 years and it is an executor sale. People have been viewing it in handfuls. The buoyancy of house prices in south-west London is bringing family buyers out in search of the ideal house, even if it means taking on something which needs work doing to it. There has already been an offer for Willinghurst Cottage but the agent is holding out for more. “It needs work and there is a former coach house which could be incorporated into the house to make it much bigger,” says Andrew Giller, selling for Savills (01483 796821). He estimates that, once finished, the house would be worth £1.75 million. “It is very special because it is three miles from one of the most desirable villages in Surrey, next to a beautiful old estate but it is only 34 minutes to Waterloo by train.” Rental Guarantee Scheme A change of sentiment is in the wind. Houses in need of work have not been selling well during the downturn, but London price increases mean that couples who have waited out the recession are now making their move to the country. More house buyers are registering in key country areas, and experts are beginning to talk of a watershed being reached which could ripple into the countryside. Houses like Willinghurst Cottage may start to look like good buys. “We are reaching the tipping point,” says Justin Marking, head of residential sales at Savills. “The gap in price between city and the country has never been wider in my 25 years as an agent, and a lot of rural properties now look incredibly good value. On top of which, the five-year forecast is that houses in the country will rise by 20 per cent.” In a sluggish market buyers have flinched from taking on houses which were shabby or tired, and there has been a thirst for new. But these Cinderellas may now find it is their turn to go to the ball. “This year is a very good time to invest in the country,” says Justin. “If you buy now it could look quite clever. A lot of houses have come down in value and there is no sign of an increase in stock for sale. As the outlook improves, people will be enthused to take on projects.” Rental Guarantee Scheme The pricing of properties in need of work is always tricky. Anything priced unusually low is pitched at developers, who look for 20 per cent profit on a restoration project. Otherwise the end value is calculated, the value of the work is subtracted, and the result is the asking price. Tom and Juliette Sherwood moved to four-bedroom Wheelwright House at Blockley, Gloucestershire, in 2006. “It was tired and shabby but liveable,” says Juliette, who is an interior designer. Rental Guarantee Scheme “It was a lifestyle change. We had the first baby, the second and the third. We replastered, rewired, replumbed. We wanted a touch of London in the country.” Exquisite materials, high-spec bathrooms, lighting and a cutting-edge kitchen now combine beautifully with old beams and flagged floors. They are selling at £935,000 through Knight Frank (01789 297735) so that the unstoppable Juliette can start again with another house, and so that the children, Miller, seven, Bay, five, and Gabriel, two, can have more space. Juliette believes that, until the ripple of movers from London has real impact, buyers should restore to live in a house rather than hope to add value and move on quickly. What is her formula for success? “I would say that as well as a lick of paint, new kitchen cupboards, sexy bathrooms and smart central heating are essential. And a Quooker boiling water tap is a must.” One way to find an interesting project at a good price is to look at 20th-century houses which have never been restored, rather than older houses which have antique value. Sacha Jackson of Knight Frank (01962 850333) is selling an Arts and Crafts Grade II listed house built in 1900, designed by architect EC Shearman for himself, with distinctive wall tiles and leaded windows. Stapenhill, at Winchester, is unmodernised, with five bedrooms and attic rooms, priced at £995,000. “We have already had 50 viewings. The interest is phenomenal,” she says. Once restored, it could be worth £1.5 million or more. POINTS TO WATCH 1. How much you spend – the market might go down as well as up. Don’t gamble on prices rising. 2. Check the fabric of the building. Until the plaster is off you don’t know what condition the walls are in. 3. Keep a large contingency fund for unforeseen problems. WAITING FOR A MAKEOVER 1. A converted two-bedroom former Methodist chapel in Nettlebed, near Henley-on-Thames, Oxfordshire. Lived in by the previous owners for 40 years, set in an Area of Outstanding Natural Beauty with fast trains to London Paddington from Reading. Savills (01491 843626), which is asking £450,000, says it needs “complete modernisation” and estimates it will be worth £620,000 when finished. 2. A Grade II listed gentleman’s residence, Llethr Llestri at Llanddarog, Carmarthenshire, is being sold by Savills as “a gem ripe for restoration”. It has six bedrooms and five attic rooms, and sits at the end of a private drive in 34 acres of land. It has been owned by the Puxley family for generations and inspired Daphne du Maurier’s Hungry Hill. Savills (02920 368930) is asking £695,000. 3. Newcastle Hall, Newcastle, Shropshire, is an 18th-century hall with six bedrooms, attic rooms, barn, gardens, lived in by the previous owner for 43 years, being sold by Strutt & Parker (01584 873711) for £469,000. 4. Dolphins, near Kayhaven, Hampshire, priced at £1.75m, was built in 1922 and is unlisted. It sits in over three acres and has five bedrooms, outbuildings, a boathouse, paddocks, stables and views to the Isle of Wight. The previous owner lived there for 40 years. Knight Frank (01962 850333) is asking £1.37m. View the original article here Our top rated property management service comes highly recommended by many homeowners and landlords alike. Contact rent guarantee today on 020 8694 8098 to find out more.
http://bit.ly/11LQP5W
Rental Guarantee Scheme | Why there's never been a better time for renovation projects Most of our landlords use our guaranteed rental income scheme. We have our own list of tenants waiting to move into properties. But just in case there is a void period, should happen, and for some reason your property should be without a tenant, we offer a rent guarantee scheme . Houses in need of work were out of favour during the recession, but change is coming. Willinghurst Cottage near Shamley Green just outside Guildford came to the market in January with a price tag of £1.35 million. The last owner lived in it for 60 years and it is an executor sale. People have been viewing it in handfuls. The buoyancy of house prices in south-west London is bringing family buyers out in search of the ideal house, even if it means taking on something which needs work doing to it. There has already been an offer for Willinghurst Cottage but the agent is holding out for more. “It needs work and there is a former coach house which could be incorporated into the house to make it much bigger,” says Andrew Giller, selling for Savills (01483 796821). He estimates that, once finished, the house would be worth £1.75 million. “It is very special because it is three miles from one of the most desirable villages in Surrey, next to a beautiful old estate but it is only 34 minutes to Waterloo by train.” Rental Guarantee Scheme A change of sentiment is in the wind. Houses in need of work have not been selling well during the downturn, but London price increases mean that couples who have waited out the recession are now making their move to the country. More house buyers are registering in key country areas, and experts are beginning to talk of a watershed being reached which could ripple into the countryside. Houses like Willinghurst Cottage may start to look like good buys. “We are reaching the tipping point,” says Justin Marking, head of residential sales at Savills. “The gap in price between city and the country has never been wider in my 25 years as an agent, and a lot of rural properties now look incredibly good value. On top of which, the five-year forecast is that houses in the country will rise by 20 per cent.” In a sluggish market buyers have flinched from taking on houses which were shabby or tired, and there has been a thirst for new. But these Cinderellas may now find it is their turn to go to the ball. “This year is a very good time to invest in the country,” says Justin. “If you buy now it could look quite clever. A lot of houses have come down in value and there is no sign of an increase in stock for sale. As the outlook improves, people will be enthused to take on projects.” Rental Guarantee Scheme The pricing of properties in need of work is always tricky. Anything priced unusually low is pitched at developers, who look for 20 per cent profit on a restoration project. Otherwise the end value is calculated, the value of the work is subtracted, and the result is the asking price. Tom and Juliette Sherwood moved to four-bedroom Wheelwright House at Blockley, Gloucestershire, in 2006. “It was tired and shabby but liveable,” says Juliette, who is an interior designer. Rental Guarantee Scheme “It was a lifestyle change. We had the first baby, the second and the third. We replastered, rewired, replumbed. We wanted a touch of London in the country.” Exquisite materials, high-spec bathrooms, lighting and a cutting-edge kitchen now combine beautifully with old beams and flagged floors. They are selling at £935,000 through Knight Frank (01789 297735) so that the unstoppable Juliette can start again with another house, and so that the children, Miller, seven, Bay, five, and Gabriel, two, can have more space. Juliette believes that, until the ripple of movers from London has real impact, buyers should restore to live in a house rather than hope to add value and move on quickly. What is her formula for success? “I would say that as well as a lick of paint, new kitchen cupboards, sexy bathrooms and smart central heating are essential. And a Quooker boiling water tap is a must.” One way to find an interesting project at a good price is to look at 20th-century houses which have never been restored, rather than older houses which have antique value. Sacha Jackson of Knight Frank (01962 850333) is selling an Arts and Crafts Grade II listed house built in 1900, designed by architect EC Shearman for himself, with distinctive wall tiles and leaded windows. Stapenhill, at Winchester, is unmodernised, with five bedrooms and attic rooms, priced at £995,000. “We have already had 50 viewings. The interest is phenomenal,” she says. Once restored, it could be worth £1.5 million or more. POINTS TO WATCH 1. How much you spend – the market might go down as well as up. Don’t gamble on prices rising. 2. Check the fabric of the building. Until the plaster is off you don’t know what condition the walls are in. 3. Keep a large contingency fund for unforeseen problems. WAITING FOR A MAKEOVER 1. A converted two-bedroom former Methodist chapel in Nettlebed, near Henley-on-Thames, Oxfordshire. Lived in by the previous owners for 40 years, set in an Area of Outstanding Natural Beauty with fast trains to London Paddington from Reading. Savills (01491 843626), which is asking £450,000, says it needs “complete modernisation” and estimates it will be worth £620,000 when finished. 2. A Grade II listed gentleman’s residence, Llethr Llestri at Llanddarog, Carmarthenshire, is being sold by Savills as “a gem ripe for restoration”. It has six bedrooms and five attic rooms, and sits at the end of a private drive in 34 acres of land. It has been owned by the Puxley family for generations and inspired Daphne du Maurier’s Hungry Hill. Savills (02920 368930) is asking £695,000. 3. Newcastle Hall, Newcastle, Shropshire, is an 18th-century hall with six bedrooms, attic rooms, barn, gardens, lived in by the previous owner for 43 years, being sold by Strutt & Parker (01584 873711) for £469,000. 4. Dolphins, near Kayhaven, Hampshire, priced at £1.75m, was built in 1922 and is unlisted. It sits in over three acres and has five bedrooms, outbuildings, a boathouse, paddocks, stables and views to the Isle of Wight. The previous owner lived there for 40 years. Knight Frank (01962 850333) is asking £1.37m. View the original article here Our top rated property management service comes highly recommended by many homeowners and landlords alike. Contact rent guarantee today on 020 8694 8098 to find out more.
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