4 bedroom detached for sale

£450,000

4

Bedrooms

2

Bathrooms

Floorplan

The perfect opportunity to purchase a substantial residence available on a Duchy leasehold! This property provides the benefit of a beautifully renovated Farmhouse set within substantial grounds which is offered to the market with a considerably lower purchase price than other comparable properties. It offers a purchaser the chance to upsize and undertake a lifestyle change without the related higher costs with the added appeal of living in this rural but accessible setting.

This rejuvenated family home is situated in an idyllic location in Dartmoor National Park. The property offers 4 bedrooms (3 with exposed stone chimney breasts), Family Bathroom, spacious landing with views extending over Dartmoor, Utility Room and cloakroom, separate Boot Room and wet room, Kitchen with Rangemaster and woodburning Esse stove, slate flooring with under floor heating and granite lintels and fully double glazed. Externally there is a large polytunnel and two small stone barns for storage/animals and driveway parking for numerous vehicles. An opportunity to live the Good Life!

Accommodation:

Entering through the front door of the property, you are greeted by solid slate flooring to the hallway with an impressive oak balustrade to the upstairs with door to:-

Reception Room One: Slate flooring, impressive stone chimney breast with log burner and slate hearth, dual aspect double glazed window (sash to the front) both with deep window seats, solid wood flooring.

Reception Two: Slate flooring, impressive stone chimney breast with log burner and slate hearth, dual aspect double glazed window (sash to the front) both with deep window seats, solid wood flooring.

Kitchen: Range of base units with quartz worktop, Belfast sink, Rangemaster cooker, Esse woodburning stove, induction hob, integrated dishwasher, and fridge.

Dutch doors through to:

Boot Room: Slate flooring and stable door to side of property, and access to:-

Shower Room: White sanitary ware and tiled wet room with shower

Utility Room: Slate flooring, range of base unit, stainless steel sink, space for washing machine tumble drier and fridge freezer, stable door to rear of property. Cloakroom with white w.c and hand-basin.

Upstairs accommodation:

Impressive staircase with oak handrail and spindles, leading to:-

Landing with views over the front of the property across Dartmoor.

Bedroom One: Large double room with exposed stone chimney breast and slate hearth with log burner, dual aspect windows with deep window seats.

Bedroom Two: Large double room with exposed stone chimney breast, slate hearth and log burner, dual aspect windows with deep window seats.

Bedroom Three: Double room with exposed stone chimney breast, decorative log burner.

Bedroom Four: Dual aspect with triple windows overlooking side and rear garden.

Family Bathroom: Stylish freestanding bath, corner quadrant shower with waterfall shower plus additional hand held shower.

Directions: From Yelverton Roundabout, take the B3212 out towards Princetown and at the Two Bridges Hotel junction, turn right onto the B3357 and then next left onto the B3212 towards Postbridge and Moretonhampstead. Spaders Farmhouse is found approximately 1.5 miles along the road on the left hand side.

Council Tax Rating: D

EPC Rating:F

Mains Services: Mains electricity, oil fired heating, water is sourced from a local spring (filtered through a UV water sterilisation screening system).

AGENTS NOTES: Fixtures, fittings, appliances or any building services referred to does not imply that they are in working order or have been tested by us. The suitability and working condition of these items and services is the responsibility of purchasers.

Spaders Farmhouse is held on a valuable Duchy of Cornwall protected lease for a term of 20 years from 2022. We are advised that the current rent is 6,500 per annum. Please contact us for further details regarding the lease.



Features
  • Freehold

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

£ 373950

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
    £ 11250
  • 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

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£

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

£ 36450
  • 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.

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

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

  • Cumulative Rental Profit
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    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

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

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