Kshackleton Posted June 28, 2013 Share Posted June 28, 2013 After deciding to sell up and start again, 3 years on we are finally in a position to start looking at houses to buy! But having a young family, a 8 week old baby, and a 3 year old, and time for searching, viewing and digging for infomation is so difficult to find! We've the idea in mind to buy 3 properties in Sheffield, 2 of which would be rentals that hopefully bring 400 a month each and one property for us to live in. We are lucky enough to be cash buyers. Trouble is we Are clueless when it comes to the good and bad areas in terms of crime etc...I apriciate that everyone's ideas and opinions on what makes an area nice to live in will be different, but I'd really apriciate peoples comments Many thanks ---------- Post added 28-06-2013 at 15:58 ---------- If anyone's wondering why we choose Sheffield, its not only because house prices are reasonable but because everyone weve meet from Yorkshire, Sheffield in particular has always beem so warm and friendly towards us.. It's sad to say but people are just not the same where we live now. Link to comment Share on other sites More sharing options...
retired Posted June 28, 2013 Share Posted June 28, 2013 What will be your budget for your own residence? That will give an idea as to what area's you can afford. £400 pcm for rentals? That will be a 1 or 2 bed in most of the cheaper area's. Sheffield 6 and 10 is always in demand but a house that is only worth £400pcm may be hard to find in these area's, maybe a 1 bedroom flat. If you can indicate what you have budgeted for the purchase of the rentals that may give SF members a better idea as to what area you would be best investing in. If Chem1st replies just ignore him, he is a bit paranoid about landlords! lol. Link to comment Share on other sites More sharing options...
Kshackleton Posted June 28, 2013 Author Share Posted June 28, 2013 Thanks for your reply retired.. 100k for our own property, ideally a 3 bed, and £50k for each of the rentals, we are expecting for the propertys to need doing up for these prices, my other half is an electrician and a glazier and we've only the one rental property already..so pretty new to the concept or buying to rent. Link to comment Share on other sites More sharing options...
Arrr Sez I Posted June 28, 2013 Share Posted June 28, 2013 Thanks for your reply retired.. 100k for our own property, ideally a 3 bed, and £50k for each of the rentals, we are expecting for the propertys to need doing up for these prices, my other half is an electrician and a glazier and we've only the one rental property already..so pretty new to the concept or buying to rent. Are you sure this is a good idea when you've never lived here or rented out here before? You buy properties of that value in Sheffield and you're going to be stuck here a while if you want out. At 50k you're looking at letting to LHA in some pretty grim areas. Is that what you want? Link to comment Share on other sites More sharing options...
retired Posted June 28, 2013 Share Posted June 28, 2013 Consider The 100k plus part of a rental property if not all then perhaps 1 rented property. You will get a 3 bed for 100k but a better area for 100k+. Link to comment Share on other sites More sharing options...
Kshackleton Posted June 28, 2013 Author Share Posted June 28, 2013 okay so now im left a tad deflated ..so these 50-60k houses are in deprived areas?? what exactly are you defining as grim thou? Link to comment Share on other sites More sharing options...
sawheating Posted June 28, 2013 Share Posted June 28, 2013 2 bed on Manor or Gleadless if you go for one that needs doing up. Here is a little bit of info about the Manor http://www.chavtowns.co.uk/2004/08/manor-sheffield/ you may need to spend around 70k on a rental property to get one in a decent area unless you go for a flat Link to comment Share on other sites More sharing options...
Nickscape Posted June 28, 2013 Share Posted June 28, 2013 Would be worth looking in the Hillsborough area you could probably pick something up for between £90k and £110k which would be good for rentals, would also make a good place to live as it's a very family orientated area especially the roads to the north of the park. If anyone's wondering why we choose Sheffield, its not only because house prices are reasonable but because everyone weve meet from Yorkshire, Sheffield in particular has always beem so warm and friendly towards us.. It's sad to say but people are just not the same where we live now. Have to agree, moved here 4 years ago having lived in lots of places but Sheffield has been by far the best. Link to comment Share on other sites More sharing options...
natjack Posted June 28, 2013 Share Posted June 28, 2013 (edited) Are there any areas in Sheffield where you could buy a house any decent tenant would want to rent off you, for £50K? Seriously? You'd not get much of a house for even £100k, if we're being honest. Although having said that there are some decent houses that rent quickly on Parklands or Balmoral Grange, which is Manor, but a fairly new built private estate. But you wouldn't get one for anywhere near £50k, you'd be looking at £100-110K, imo. You could look at the auction sites, Mark Jenkinson http://www.markjenkinson.co.uk/ always has properties that need some TLC which you might get for around your price. As an example, in Woodseats, couple of weeks ago, a 3 bed terrace in need of bringing up to modern standards, guide price at auction £75k, went for £95k. You might have to rethink your budget and plans. What about Rotherham, that's not too far away and a bit of a depressed area at the moment. There may be bargains to be had, if you're prepared to put some work into them. Edited June 28, 2013 by natjack add a link to an auction site Link to comment Share on other sites More sharing options...
Kshackleton Posted June 28, 2013 Author Share Posted June 28, 2013 So what's wrong with this house? apart from the house/garden needing work..this in the middle of a bad area?..I think we are going to have to trawl the streets at this rate.. http://www.rightmove.co.uk/property-for-sale/property-38370335.html?premiumA=true Link to comment Share on other sites More sharing options...
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