3 bedroom detached for sale

£650,000

3

Bedrooms

2

Bathrooms

Floorplan

A charming and spacious period cottage set close to the beach, local shops and leisure facilities. Accommodation includes 2 reception rooms, kitchen/breakfast room, conservatory, 3 double bedrooms, 2 bathrooms and a large garage, plus off-road parking. Viewing essential to fully appreciate.

This delightful, detached, period cottage is understood to date from the mid-1800s and offers a fantastic blend of both character and space. Generous room sizes combine with period features in this surprisingly spacious family home, all set in a location close to local facilities and the beach. To the southern end of Bound Lane is Hayling Island beach, popular in the summer with locals and holiday makers alike. A short walk from the north end of Bound Lane there is a selection of local shops, including a Co-op, Sainsburys Local, and a pharmacy, along with independent shops and cafes. There are also great leisure facilities within easy reach, including a sailing club, golf course, tennis club and gym. A viewing of the property is very much essential to fully appreciate all the aspects on offer.

On entering the property, the solid wood-panelled front door has a porch surround, opening in to a large receptions hall, featuring exposed beams and a brick surround fireplace. This space could easily accommodate a dining table and offers direct access to the kitchen/breakfast room. The kitchen/breakfast room features a generous range of floor and wall units with space for a family table on the centre of the room. There are spaces for a range-style cooker and American-style fridge/freezer, as well as a dishwasher. To the far end of the kitchen there is a utility room with space for a washing machine and is home to the gas boiler. The kitchen provides access to the conservatory, which is located on the southern aspect of the property and can also be accessed directly from the driveway. There is also direct access from the kitchen to the propertys rear garden. The sitting room is very generous in size and features a wonderful, large, brick fireplace with a log-burner to one end of the room. This room also has a door providing direct access to the rear garden. The ground floor accommodation is completed with a stylish shower room, featuring a corner shower cubicle, wash basin and toilet.

To the first floor, there are 3, good-sized, double bedrooms. Bedroom 1 offers a bright, southern outlook and features an attractive, cast-iron fireplace. Bedroom 2 is to the far end of the landing and features fitted wardrobes to one wall. The third bedroom is in the centre of the house, opposite the bathroom. The bathroom offers a panel bath with central taps, a wash basin and a toilet.

Outside, the house is approached over a driveway leading to the front door at one end of the house, with a large garage to the other end. This garage has wide garage door opening to Bound Road, with a personal door opening to the rear garden. There is light and power, along with a wash basin. The rear garden to the property is enclosed with timber fencing and a tall brick wall to one end. The garden is mostly laid to lawn with a brick-paved patio to one side.

Map location is not available for this property.

Mortgage Calculator

Your property may be repossessed if you do not keep up repayments on your mortgage.

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 538950

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

Cost of Purchase

£
  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 16250
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.

£

This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.

£

Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.

£

This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.

Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.

Annual Costs

£ 51450
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

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£
  %

This is the percentage of the rent that you will spend maintaining the property.

£

Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.

£

Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.

£

This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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