3 bedroom bungalow for sale

£585,000

3

Bedrooms

2

Bathrooms

Floorplan

An opportunity to purchase a versatile detached home in the sought-after west side of Lee-on-the-Solent. Boasting a very flexible arrangement with bedrooms over two floors, the property has been updated and improved greatly by the current owner. This home will suit anybody looking for a well-proportioned detached property with a good size garden, parking and garage who enjoys convenience of access to the beach and seafront, both of which are a short walk away. We have great pleasure in offering this property for sale and would be delighted to organise your internal inspection.

The accommodation comprises:

Front door to:

Entrance Hall:
A good sized L-shaped hallway with stairs to the first floor accommodation, picture rail and useful understair storage cupboard.

Living Room: 159 x 120 (4.80m x 3.66m) (max measurements)
Located in the centre of the property, the living room features bi-fold doors that lead out to a versatile dining and further reception room at the rear, brick fire surround and fitted electric fire. There is a double glazed window to the side and contemporary plank-effect flooring.

Kitchen/Dining Room: 206 x 96 (6.25m x 2.90m) (max measurements)
Providing ample room for table and chairs and with the versatility of being a perfect snug where dining can be set in the rear extension if preferred. There is an original brick fire surround, double glazed bay window to the side and there is a planned configuration and a small step down to the kitchen area which comprises contemporary wall and base units and fitted work surfaces. There is an inset sink unit, integrated fridge/freezer, fitted electric oven and gas hob plus space for a dishwasher or washing machine.

Garden Room Extension: 181 x 96 (5.51m x 2.90m) (max measurements)
This room offers a vista of the rear garden via double glazed French doors and double glazed windows. There is contemporary plank-effect flooring which coordinate with the kitchen and dining room and to one end fitted base units with plumbing for a washing machine or dishwasher and fitted roll top work counter.

Bedroom 2: 130 x 100 (3.96m x 3.05m)
A dual aspect room with double glazed oriel window to one side and further double glazed window to the other. There is a radiator and picture rail.

Bedroom 3: 110 x 1010 (3.35m x 3.30m) (max measurements)
With a double glazed window to the side elevation, radiator and picture rail.

Bathroom: 710 x 60 (2.39m x 1.83m)
A modern suite comprising of panel bath with mixer tap above, pedestal wash hand basin, WC, separate corner shower cubicle, fully enclosed with shower tiling and electric shower fitted. There is a double glazed window to the side, tiled walls and contemporary flooring.

First Floor Landing:
With built-in storage cupboard/wardrobe plus eaves cupboard.

Bedroom 1: 201 x 119 (3.12m x 3.58m) (max measurements)
A vast main bedroom with access to an ensuite WC. There is a double glazed window to the front, built-in cupboards, two radiators plus an airing cupboard housing the hot water cylinder.

Ensuite WC: 61 x 55 (1.85m x 1.65m) (max measurements)
With a double glazed window to the side, pedestal wash hand basin, WC, chrome ladder-style radiator, half tiled walls and tiled flooring.

Outside:
8 Richmond Road really comes into its own with its grounds and gardens. There are gardens to three sides and the property is neatly enclosed and private from the street. The rear garden is of good size with a large area of patio, lawn, path and seating area. There are timber boundary enclosures and a bright and sunny aspect.

Garage:
With a courtesy door to the garden, constructed under a tiled and pitched roof. There are double gates that provide vehicular access in from Richmond Road with space for several cars.

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

£ 485325

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
    £ 14625
  • 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

£ 46575
  • 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

Adjust these figures

  %
  %
£
  %

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

The Property has been saved to your favorites

Love the most
Second best
Meets our criteria
May be
Last resort

 / 5

Enquiry

Book an Appointment

Enter Details

Select Date and Time

GNB Property

10 Minute Meeting

  

Check all Details

Submit

Booking Confirmed

All confirmed! We look forward to speaking with you.

10 Minute Meeting

A calendar invitation has been sent to your email address.
Message