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Buying a house to rent out in wales

(17 Posts)
gulliver Wed 21-Feb-18 21:20:45

I'm considering buying a house to rent out in wales has anyone done this ? What pitfalls ?

Tobuyornot99 Wed 21-Feb-18 22:02:26

Wales is quite a big place you know, it's more than Postman Pat and a few sheep. Anywhere specific you're thinking of?

Muchtoomuchtodo Wed 21-Feb-18 22:05:15

Give us a few more details and we might be able to help!

Holiday let / student house / long term tenant?

Location?

What size of house?

user1466690252 Wed 21-Feb-18 22:05:42

where in wales? depending on where in cardiff it isnt cheap, or really cheap for a reason. You can get a house for 70k in some parts of wales, but again, there is a reason for that

Heratnumber7 Wed 21-Feb-18 22:12:17

DSis bought a house near Swansea to rent out. It's had the same nurse in it for about 3 years. Does that help?

gulliver Thu 22-Feb-18 04:51:34

Probably south ie Bridgend or something like that

LadyMonicaBaddingham Thu 22-Feb-18 04:55:53

I genuinely don't understand what you're asking. Location recommendations? Validation? Confirmation that people in Wales like to live in houses?

timeforabrewnow Thu 22-Feb-18 06:01:03

I didn't know Postman Pat was from Wales

That's really interesting - I assumed he was from Yorkshire blush

Slitherout Thu 22-Feb-18 06:09:14

Postman Pat was from North Yorkshire/Cumbria timefor - that's not any kind of Welsh accent going on there 😁

OP, even south Wales is a big place, even Bridgend has vastly different areas, want to give us a clue what you're hoping for?

Minniemountain Thu 22-Feb-18 07:17:03

Firemen Sam and Super Ted are both from Wales though.

confusedandemployed Thu 22-Feb-18 07:21:23

Key question is what sort of rental do you want? Long term? Short stay? Holiday let? City centre? Rural? Just like anywhere else there is a market and different location for all of these.

womannotcis Thu 22-Feb-18 07:24:21

Be aware you will need to register with Rentsmart Wales as a landlord and pay for the privilege.

Perfectnight Thu 22-Feb-18 07:32:08

You have to do a one day rent smart course.

specialsubject Thu 22-Feb-18 09:05:19

Yes - rentsmart. Training and fees. No enforcement though.

BarbaraofSevillle Thu 22-Feb-18 09:49:21

Why Wales? Do you live there? How would you carry out maintnance - if you want an agent to sort all this out, it will cost and hit your profits.

Don't be blinded by properties appearing to be very cheap. Work out all the numbers in terms of rental yield after costs and don't expect much in terms of increase in value over time.

Tobuyornot99 Thu 22-Feb-18 10:35:42

Haha I definitely meant Fireman Sam grin god I'm sleep deprived!
Bridgend is vast and wide, do you mean Wildmill or Porthcawl, a million miles apart socially. But yes, people in Wales do live in houses, and some of them rent.

scrabbler3 Fri 23-Feb-18 12:15:26

Student housing is scarce in Swansea so you'd get tenants if you bought a house in an area popular with students. During the summer you could use it yourself and explore the Gower/Carmarthenshire/Brecon Beacons. There are lots of potential pitfalls to being a landlord though.

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