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£400,000 Offers in excess of
Bedrooms
Bathrooms
Situated in the sought after location of Stanway Green and being offered for sale with no onward chain is this spacious two bedroom detached bungalow in need of modernisation throughout. The property boasts generous living accommodation, a large rear garden, off road parking, and a detached garage.
Set in the highly sought after residential location of Stanway Green, this two bedroom detached bungalow has vast amounts of potential to improve. The accommodation begins with an entrance hall thats gives access to the loft hatch, airing cupboard, and all primary rooms.
The spacious lounge which stretches the width of the property at the rear benefits from double glazed sliding doors and a window out to the rear garden, and open archway into the dining room, and a door leading into the kitchen.
The dining room is also of a generous size with two double glazed windows to the side aspect.
The kitchen comprises matching base and eye level units with worktops over and an inset stainless steel sink and drainer with tiled splashbacks, freestanding and undercounter space for appliances, an inset double oven, wall mounted gas fired boiler, and a double glazed window to the side aspect.
Both bedrooms are very generous in size and benefit from large fitted wardrobes and double glazed windows to the front aspect. Bedroom one also has the use of an ensuite shower room which has a shower cubicle, low level w/c, hand wash basin, fully tiled walls, and an obscured double glazed window.
The bathroom comprises a panelled bath, low level w/c, hand wash basin, partly tiled walls, and a double glazed window to the side.
Outside
The property benefits from having a large private rear garden filled with mature and well established plants, trees, bushes and shrubs. The main of the garden has been laid to lawn with a patio area, all enclosed by panelled fencing. The detached garage has a manual up and over door, personal door to the side, power and lighting connected, and a potting/storage shed attached to the rear. At the front of the property there is a driveway providing off road parking in front of the garage. To the right hand side of the property there is a private road which Wood Lodge has rights of access to use.
Location
The property is situated in the popular Stanway district of Colchester in the area known as Stanway Green, being a short distance to Stanway Retail Parks and shopping district which offers a wide range of shopping facilities via a series of national outlets. The A12 can be accessed London bound towards the M25, A120 for London Stansted Airport and train stations of the City offers services to Londons Liverpool Street. The sought-after Stanway Secondary School is within walking distance.
Directions
Proceed from our Tollgate office in the direction of the Lakelands development. On reaching the Lakelands roundabout, turn left into Church Lane then immediately left at the mini roundabout onto Blackberry Road. Follow the road down, turning right into Heath Road and continue down towards Stanway Green.
Important Information
Council Tax Band - D
Services - We understand that mains water, drainage, gas and electricity are connected to the property.
Tenure - Freehold
EPC rating - D
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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