3 bedroom detached for sale

£575,000

3

Bedrooms

2

Bathrooms

2

Reception

Floorplan

A rare and exciting opportunity to purchase a 3 bedroom work-live detached house with 1/3 acre garden, parking and stunning panoramic countryside views overlooking 3 Tor's of Dartmoor 17 miles away, situated in a hamlet on Braddon Estate between Ashwater and Holsworthy. The first floor living accommodation comprises an entrance hall with a through outlook to the stair well. A large kitchen, dining room and sitting room offering triple aspect stunning countryside views, three double bedrooms and a bathroom with shower over bath The ground floor consists of a spacious reception room/main office, a shower room, kitchenette, utility room and three further rooms that can be used as offices or storage. Further benefits include 1/3 acre garden surrounding the house, open countryside and woodlands, plenty of outside storage and LPG central heating with Bulk underground tank. All rooms are double glazed. Property set within such a wonderful location is fairly rare to the local market and Howes Estates recommends an urgent internal inspection to avoid disappointment.



Features
  • Freehold


Property additional info

Location:
Lake House is situated within a peaceful and Idyllic hamlet. The rural location is set around just a few other select and individual properties. The village of Ashwater is 3 miles away and has the has the benefit of several local amenities including a School, a General Store/Post Office, a newly built Parish Hall where many local clubs & classes meet, a Church and Methodist Chapel, and a food serving Inn. The market town of Holsworthy is approximately 6 miles and offers an excellent range of amenities including a bank, post office, leisure centre, 18 hole golf course, Waitrose supermarket, garage with M&S to go!, community hospital, primary and secondary schooling. The popular north Cornish coastal resort of Bude is approximately 13 miles distant with its sandy surfing beaches and coastal walks. The main A30 can be reached within a fifteen minute drive, which in turn leads to Exeter and the M5 motorway and beyond.

Accommodation

Room title:
A pathway through the front garden leads to a metal walkway bridge arriving at the property front door leading to:

Entrance Hall:
Hardwood Parquet floor onto fitted carpet, airing cupboard and a through view from the entrance hall to the staircase well.

Kitchen/Dining/Sitting Room: 6.68m x 6.12m
Matching wall/base storage cupboards & drawers, work surfaces, space for a range cooker with extractor over, stainless steel sink/drainer, space for a dishwasher, space for a large fridge/freezer, triple aspect windows, patio doors offering stunning views, parquet style flooring, radiator. From the Dining room a set of stairs leads down to the work/live areas.
Size: 6.68m x 6.12m (21'10" x 20'0")

Bedroom One: 4.31m x 3.03m
Fitted carpet, fitted wardrobes, dressing table, window, radiator.
Size: 4.31m x 3.03m (14'1" x 9'11")

Bedroom Two: 3.97m x 2.97m
Fitted wardrobe, fitted carpet, window offering stunning views, radiator.
Size: 3.97m x 2.97m (13'0" x 9'8")

Bedroom Three: 3.57m x 2.99m
Fitted carpet, fitted wardrobe, window offering stunning views, radiator.
Size: 3.57m x 2.99m (11'8" x 9'9")

Bathroom: 2.54m x 2.04m
Panelled bath with shower over & tiled walls, wash hand basin, w.c, electric shaver point, extractor fan, window, vinyl floor, radiator.
Size: 2.54m x 2.04m (8'3" x 6'8")

Ground Floor

Reception Room/Office: 7.62mx6.35m
Fitted carpet, double aspect windows & patio doors offering stunning views over the rear garden, fire place with inset wood burning stove, radiator, under stairs storage cupboard.
Size: 7.62m x 6.35m (l-shaped) (24'11" x 20'9" (l-shaped

Room title:
There are three further rooms that can be used as offices or storage. Two are small and one a very good size with a walk in cupboard.

Room One: 2.97m x 1.88m
Fitted carpet, window, radiator.
Size: 2.97m x 1.88m (9'8" x 6'2")

Inner Hallway

Kitchenette: 2.91m x 1.99m
Fitted storage cupboards & built-in storage cupboard, stainless steel sink/drainer, work surface, window, tiled flooring.
Size: 2.91m x 1.99m (9'6" x 6'6")

Shower Room: 2.00m x 1.98m
Tiled shower cubicle with mains fitted shower within, wash hand basin, w.c, extractor fan, window, electric shaver point, radiator, tiled flooring.
Size: 2.00m x 1.98m (6'6" x 6'5")

Room Two: 4.34m x 3.45m
Fitted carpet, large walk-in storage cupboard, radiator, window offering views over the rear garden and countryside beyond.
Size: 4.34m x 3.45m (14'2" x 11'3")

Room Three: 2.97m x 1.88m
Fitted carpet, radiator, window offering views over the rear garden and countryside beyond.
Size: 2.97m x 1.88m (9'8" x 6'2")

Rear Hall:
Tiled floor, door to front.

Utility Room: 3.37m x 1.66m
Space & plumbing for a washing machine, space for a tumble dryer and other white goods, fitted display cabinets, window, tiled flooring.
Size: 3.37m x 1.66m (11'0" x 5'5")

Gardens:
The property has the benefit of well proportioned front & rear gardens being mainly laid to lawn with plenty of borders having an array for colourful plants, bushes, flowers and a few mature trees. Further benefits include various outside storage sheds and storage, a green house, 5 raised vegetable and fruit beds, all facing south, well stocked herbaceous plants and shrubs, sunny aspect patio and outside water supply.

Parking:
A sweeping gravelled drive leads to a good-sized parking area.

Services:
Mains Water Private Drainage (shared) Mains Electricity LPG Central Heating (1400 Litre tank buried below ground)

Tenure:
Freehold

Agents Notes:
The property is subject to a B1 work/live ground floor The property is subject to business rates and council tax. The current vendor pays normal council tax of approx. ?1,300 for the first floor. For the work/live ground floor the business rates are free as the area is less than 3,000 sq ft Since the EPC was conducted, LPG central heating has been installed.

Consumer Protection from Unfair Trading Regulation:
As the sellers agents we are not surveyors or conveyancing experts & as such we cannot & do not comment on the condition of the property, any apparatus, equipment, fixtures and fittings, or services or issues relating to the title or other legal issues that may affect the property, unless we have been made aware of such matters. Interested parties should employ their own professionals to make such enquiries before making any transactional decisions. You are advised to check the availability of any property before travelling any distance to view.

Referral Fees:
Howes Estates offer a mortgage referral service to either The Mortgage Advise Bureau or Mortgages with Joy. The average referral fee paid to Howes Estates is ?250.

Mortgage Calculator

Your property may be repossessed if you do not keep up repayments on your mortgage.

Monthly Payment: £2,486.68

Total Interest: £320,206.41

Overall Total: £895,206.41

Amortization For Monthly Payment: £2,486.68 over 30 years ( Based on 3.20% Interest )

YearInterest Principal Balance 
2025£18,230.71 £11,609.50 £563,390.50 
2026£17,853.71 £11,986.51 £551,403.99 
2027£17,464.46 £12,375.75 £539,028.24 
2028£17,062.58 £12,777.63 £526,250.61 
2029£16,647.64 £13,192.57 £513,058.04 
2030£16,219.24 £13,620.98 £499,437.06 
2031£15,776.91 £14,063.30 £485,373.76 
2032£15,320.23 £14,519.98 £470,853.78 
2033£14,848.71 £14,991.50 £455,862.28 
2034£14,361.89 £15,478.33 £440,383.95 
2035£13,859.25 £15,980.96 £424,402.99 
2036£13,340.29 £16,499.92 £407,903.07 
2037£12,804.48 £17,035.73 £390,867.34 
2038£12,251.27 £17,588.94 £373,278.39 
2039£11,680.10 £18,160.12 £355,118.28 
2040£11,090.37 £18,749.84 £336,368.44 
2041£10,481.50 £19,358.71 £317,009.72 
2042£9,852.85 £19,987.36 £297,022.37 
2043£9,203.79 £20,636.42 £276,385.95 
2044£8,533.66 £21,306.56 £255,079.39 
2045£7,841.76 £21,998.46 £233,080.93 
2046£7,127.39 £22,712.82 £210,368.11 
2047£6,389.83 £23,450.39 £186,917.72 
2048£5,628.31 £24,211.91 £162,705.82 
2049£4,842.06 £24,998.15 £137,707.67 
2050£4,030.28 £25,809.93 £111,897.74 
2051£3,192.14 £26,648.07 £85,249.67 
2052£2,326.79 £27,513.43 £57,736.24 
2053£1,433.33 £28,406.88 £29,329.36 
2054£510.86 £29,329.36 £0.00 

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

£ 464,575

Mortgage Loan to Value

81%

Gross Yield

12%

Annual ROI

35%

Annual Rental Profit

£ 31,346

Cumulative Rental Profit

£ 313,461

Cost of Purchase

£ 33,325
  • Stamp Duty
    £ 16,250

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

  • Refurbishment Budget
    £ 14,375
  • 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

£ 37,654
  • Mortgage Interest
    £ 20,906

    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)
    £ 9,108
  • Letting Fee
    £ 240
  • Maintenance
    £ 6,900
  • 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

£ 641,751
  • Final Equity Profit
    £ 328,289

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

  • Cumulative Rental Profit
    £ 313,461

    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

£ 936,614

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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