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£850,000 Guide Price
Bedrooms
Bathrooms
An individual detached house with much potential, enjoying stunning sea views.
Extending to over 4000sqft, the house sits in an elevated position on the edge of the exclusive coastal village of Shaldon, adjacent to Coast View Holiday Park and around 750m from the pretty village centre with its excellent selection of shops, bars and restaurants.
Occupying a plot which extends to around 0.4 acres in total, the property has predominantly level gardens which offer good levels of privacy and are well-established and mainly laid to lawn. A gated private driveway provides plenty of parking.
Shaldon is an idyllic fishing village with quaint thatched cottages, period houses and some spectacular grand design style homes. Narrow streets wind down to the beach next to the mouth of the River Teign where a ferry provides foot passage over to the coastal town of Teignmouth. Torquay with its chic marina and Mediterranean-style coastline is around 5 miles drive whilst the city of Exeter is around 15 miles drive.
Accommodation
Stepping inside, the house enjoys stunning views in an almost 180-degree vista looking directly out to sea and along the picturesque coastline, taking in Teignmouth and beyond. Presented over four floors, the layout offers versatility and currently provides extensive living spaces, five bedrooms, four with en-suites, a self-contained annexe style one bedroom apartment, and a useful basement area. The accommodation is partly modernised and has some lovely individual and stylish features such as balconies and feature glazing, but does now require some further updating and improvement. In short, the property offers a wonderful opportunity for a buyer to finish their new home to their own style and taste.
Garden
Lovely established plot with level and secluded areas of lawn extending to around 0.4 acres.
Parking
Gated driveway for multiple vehicles.
Agents Notes
Council Tax: Currently Band D
Tenure: Freehold
Mains water. Mains gas. Mains drainage. Mains electricity.
The property has a right of access across the holiday park, and the vendor informs us that there is no liability for maintenance.
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 )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
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.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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