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Where to buy in Kent

(2 Posts)
darknessontheedgeoftown Fri 10-Feb-17 11:02:38

OK first things first the budget is max £130k as this is a purchase to keep a foothold in sterling & UK property while I live abroad. I am looking at 1/2 bedroom flat which I'd then let, possibly Margate and Ramsgate. I know these towns and their deprivation issues plus the recent regeneration attempts.There are properties well within the budget on the Internet now. I can't really go higher money wise as I can't get a mortgage at the moment. Main considerations are capital growth/holding value, sterling euro exchange rate, liquidity in terms of ability to both rent and eventually sell. I'd ideally look further in towards north west Kent/Surrey/Croydon but I don't think budget will allow. Any thoughts?

JoJoSM2 Fri 10-Feb-17 18:43:53

I would really think it through and consider other investment options. A property in that price bracket will generate little rent that will further be reduced by fees for whoever manages the property for you. After you cover any service charges, ground rents, landlor's insurance etc. your annual profit could be wiped by a single boiler replacement (for example).

A lot of other types of investments, e.g. funds tracking stocks and shares are likely to appreciate well in value over time, the money will be easily available + whatever you put through the ISA wrapper won't be taxed.

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