3 bedroom terraced for sale

£250,000 Offers in excess of

3

Bedrooms

1

Bathrooms

Floorplan

This charming three-bedroom terraced house, located on the highly sought-after Bourne Road in Colchester, offers an ideal blend of modern living with the convenience of being close to local amenities and the train station. Perfect for families, commuters, or those seeking a welcoming home in a central location, this property boasts generous living space, a private rear garden, and two reception rooms.
Upon entering the property, you are greeted by a bright and airy lounge. This versatile space offers a warm and inviting atmosphere, ideal for family gatherings or quiet relaxation. The second reception room at the rear of the house is equally spacious, providing an additional area for dining, entertaining, or even a playroom for children. The separate kitchen is thoughtfully designed with ample storage and workspace, making it perfect for preparing meals and entertaining.
Upstairs, the property offers three generously sized bedrooms, each benefiting from natural light and ample storage options. The master bedroom is a particularly spacious retreat, offering room for a double bed and additional furniture. The second and third bedrooms are perfect for children, guests, or as home office space.
Externally, the private rear garden provides a tranquil space to unwind, with plenty of room for outdoor furniture, planting, and even a childrens play area. The garden is fully enclosed, offering privacy and security.
The location of this property is another major advantage, with Colchester Town Station just a short distance away, providing excellent transport links to London and beyond. Local amenities, including shops, schools, and recreational facilities, are also within easy reach, making this an ideal home for busy professionals and families alike.
Lounge 132' x 105'Entrance door, double glazed window, feature fireplace, radiator, stairs rising to the first floor landing, opening to:
Dining Room 1010' x 119'Radiator, door to:
Kitchen 810' x 610'Double glazed window to side, wall and base level units, sink and drainer with mixer tap over, oven and hob, extractor fan, worktops, space for appliances, door to:
Lobby areaDoor to side, further door to:
Bathroom Double glazed window to side, low level WC, wash hand basin, bath with shower over
First Floor Landing Doors leading off
Master Bedroom 118' x 105'Double glazed window to rear, radiator, storage cupboard
Bedroom Two 11 x 81'Double glazed window to front, radiator
Bedroom Three 811' x 611'Double glazed window to rear, radiator
Rear GardenFully enclosed and private, mainly laid to lawn, flower beds and shrubs

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

£ 208950

Mortgage Loan to Value

%

Gross Yield

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Annual ROI

%

Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

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  • Stamp Duty
    £

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

  • Refurbishment Budget
    £ 6250
  • 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

£ 21450
  • 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

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  %

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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