RE: Kirstie And Phil Tip DOVER!
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Apr26
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No not "tipped over", they recommend Dover as a good place to invest, they say it's a high risk investment though... indeed, buy in Folkestone instead!
2006 :: Comment / reply
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Hello Pauly
I'm another Manchester bod who wants to come and live in Folkestone. Whilst I get myself sorted, I'm thinking of buy-to-letting, but I'm unsure whether there is any demand for rental property in Folkestone yet. Lettings agents won't really give you an honest answer.
I'm hoping to buy and either move down or let until 2009 when properties should have increased in value.
Any gen or local knowledge much appreciated!!
Dan :: 6 Jul :: 2006 :: Comment / reply
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I think it depends on the area and it depends on what sort of deposit you have. I've had my two bedroom place two years now, and I think it was worth the 140k we paid for it, but if we were to rent it out the most I've seen a two bed advertised for is 650 per month I think, and that would not cover the mortgage.
I guess if you were on an interest only mortgage it would cover it, but including things like service charge and insurance, it's a close run thing.
If the point is to just get established, then you might not be worried about making the profit right now, but you don't want to be making a loss I suspect.
With other types of flats in other parts of town, I expect the figures stack up better, but I would be wary of any of the new flats that I think have been all bought by investors, you see the same flats advertised week after week in the paper, there's a lot of competition. Maybe a house, or a couple of studios would be better as buy to lets, I don't know.
The local paper is called The Folkestone Herald, they're not online but they're published by Kent Regional Newspapers, email newsdesk.heraldexpress@kentregionalnewspapers.co.uk or phone 01303 850999 - that's the news desk, the only number I can find...
