What would you buy, house or flat?

[poppym12]

Looking to purchase an investment property around the Bristol area, walking distance to a train station.

The property will be lived in whilst working in the area for around 12 months, possibly with a lodger, then it will be rented out.

Budget around 220-250. Any recommendations for good areas with strong rental potential?

Filton lots of students UWE, but also Airbus, Rolls Royce staff and Southmead Hospital

Sorry forgot to say within walking distance to 2 train stations Filton Abbey Wood and Bristol Parkway also lots of staff based at MOD Abbeywood. Hope this helps and within your price range too

That's great help powerplant. Is Filton a decent area? I'm thinking a flat might be a better buy than a house but really not sure what is more lettable around there.

Flat would be easier to rent in centre of Bristol imo. Even if you go the air bnb route, this past weekend would have been really good with the half marathon.

Filton’s ok it’s not particularly pretty but also close to motorway M4/M5. A mix of students and families. There are some nice new flats near Stoke Gifford (nicer area) next neighbourhood to Filton, otherwise mainly houses. Stoke Lane flats are next to UWE (University of West of England).

Depends on the area, I'm not too familiar with Bristol

I do however own a flat quite central within Sheffield. I have only ever had young working professionals in there- easy tenants, not too much mess left over when they leave, it's managed by a management company too so maintenance on the ground/grass/carpark/trees/windows is all organised by them. It's been a breeze so far (touch wood)

I do know a friend how owns a house, she makes more money than me on rent per month, however she typically gets students moving in and they are a bloody headache throughout the entire tenancy and the cleaning bill is astronomical.

I'd take the slightly smaller income of a flat and an easier time any day over a house

Centre of Bristol prices are above my budget Bob. I've enquired about a couple but they'd already been sold stc.

I'm of the same opinion as you optimistic, a smaller income and less hassle (hopefully). I'm not too keen on renting to students as my own DS is 20 and, well, I'd rather not!

I don't think you'll find much walking distance to centre within your budget. Unless you're thinking a 1-2 bed flat.

A house for your budget would be more hartcliffe and withywood for South Bristol which has major bus routes to town centre. I don't really know North Bristol that well for your budget as always lived south.

If it helps when I bought my first house in withywood 4 years ago I had a student lodger who caught the bus to town for uni and to work at the BRI and it only used to take him about 20 mins.

Also both houses and flats get snapped up right away in South Bristol. Whether near town or not. You'd be lucky to see one on Rightmove longer than a few days if it's half decent

It doesn't have to be walkable to the city centre, just near enough to a train station as not everyone wants to be right in the city. 2 bed would be fine.

South of the city, I’d look in totterdown & victoria Park/windmill hill bits of Bedminster (walking distance to TM). Flats should be within your budget there and would rent very easily.

North, I’d look Bradley Stoke south, stoke park and other places within walking distance of bristol parkway.

There are a couple of local train lines which connect with one of the major stations which you might want to consider.

If you set your right move searches for within x distance of bristol temple meads or bristol parkway, I’m sure us local peeps could give you a steer on whether the properties are in good rental locations or not.

This would be perfect for you ... great location, almost opposite local station, close to Glos Rd and would rent in a snap.

www.rightmove.co.uk/property-for-sale/property-64595079.html

I’ll see what else I can find

www.rightmove.co.uk/property-for-sale/property-63529335.html

www.rightmove.co.uk/property-for-sale/property-72218005.html

www.rightmove.co.uk/property-for-sale/property-74155750.html

Bit of a punt ... lots of nice properties in keynsham in your price range and within easy walk of station;

www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=STATION%5E5102&minBedrooms=2&maxPrice=250000&radius=0.5&propertyTypes=&includeSSTC=false&mustHave=&dontShow=&furnishTypes=&keywords=

Thank you monkeys, very helpful. I like the sound of Keynsham, it looks quiet enough but easy to get into the city. I hadn't looked at Stoke Gifford so I'll start searching there. I've already saved the Montpelier ones but the agents seem a bit slow to respond to my enquiries.

Sorry, I meant Bradley Stoke not Stoke Gifford!

Good luck, I hope you find something suitable.

A word of caution with Bradley Stoke, it’s a big place so definitely check distance from the station as not all of it is walkable to parkway.

Whichever you chose, don't go for Leasehold if you can possibly avoid it.

I haven't found any flats that aren't leasehold Kelly. Could you tell me why?

I'm down for a few days soon viewing a few properties and distance to a station must be an easy walking distance.

Owning a Lease is not the same as owning a property. A lease gives you the right to live in a property, not ownership of the building itself or the ground it stands on. Leases include paying ground rent to the Freeholder, they depreciate over time as the lease gets shorter you won't be able to resell it for as much money. Banks won't mortgage properties with short leases, assuming you need a mortgage. If you don't have an option, get the longest lease possible to give you the best chance of reselling it in the future.

The vast vast majority of flat leases in Bristol are 999 years. They may have started 20/30/40 years ago but, yknow, the house will fall down before the lease runs out. It’s also common for the freehold ownership to be shared between the flat owners where the flat is in a house conversion.

I’ve owned flats, I’ve owned houses ... as long as you do your due diligence on the management committee etc., through the purchase process, there’s absolutely nothing to be worried about imo.

I don't know about prices but St George was very up and coming when I lived there. I also think Totterdown is worth looking at. Very close to the centre.

Thank you for the information, it's very helpful.
We looked at a few last week but none was quite right so still looking.
May widen the search to Bath but we'd probably get only be able to afford a shed with Bath prices.