Bexhill is a beautiful coastal town located in West Sussex, near Hastings and signs have shown that recently Bexhill has been bouncing back when it comes to the property market. With its high quality housing, iconic seaside views and quaint small town atmosphere, if you’re thinking of buying a property in Bexhill, you might be making a pretty solid investment.
So where to start in buying a property in Bexhill?
When it comes to setting a budget for buying a Bexhill property, you first need to consider what style of property you want to be looking for. Are you looking for a house? A detached house? A flat? These will determine both your budget and the likelihood of you getting a good deal for a sale. For example most of the properties sold in Bexhill in 2014 were flats, selling at around £140k on average. Houses sold for around £314k for detached properties and £205k for semi-detached properties.
Overall on average you’re looking at budgeting around £220k for houses and flats in Bexhill, which is an 8% increase from the previous year. For a small coastal town, this is a pretty good range and gives you a number of options depending on whether you’re planning to buy as a first home, or if you’re planning to buy as a buy-to-let investment.
Buying as a Home or Buying to Rent Out?
Are you buying a property in Bexhill as a potential home for your children and you want to move in? Or do you already have an established home and you’re just looking at property in Bexhill as a means of extra income through a buy-to-let investment? Depending on the purpose of the property purchase, you will want to look at different areas in Bexhill.
If you are planning on buying a home to live in, it is all really down to personal preference, however if you want to make a buy-to-let investment, you will need to take a few things into account when choosing a property.
Who will rent it? Different types of properties attract different tenants. For example, bungalows or cottages tend to attract elderly renters whereas large 4 bedroom or 5 bedroom homes may attract students. The condition of the property will also affect the types of tenants you will likely see. Think about who you would want to rent to and look at properties accordingly.
Local Amenities? The location is also important regardless of whether you’re planning to live in it or if you want to rent it out. You’re less likely to get quality tenants if you happen to rent in a run-down area, but the centre of town can also have its drawbacks as there may be a lack of parking, leading to less potential tenants.
You’ll want to see if the property has its own parking, disabled access, is near to any local schools, bus stops or railway stations and also if it is eligible for Fibre internet. You may also want to find out about the neighbours’ homes and whether or not they have well kept front gardens/back gardens as this can also affect the market value of your property if you were ever to sell it in a few years time.
Fully Furnished or Fixer-Upper?
By fully furnished, we don’t mean including furniture, artwork, potted plants and the like. We are talking about the difference between a property that is ready to be moved into and a property that needs a bit of work done before the new tenants or home-owners can move in.
In some cases, taking a property that could use a little love and renovating it into your dream home can be better – albeit more time consuming – than buying a ready-made property, as you can create it just how you like. For buy-to-let investments it is normally better to buy a property that is already suitable for tenants, as this way you’ll get the most value for your money and can start renting out immediately.
However there are sometimes some real gems hidden away in old or run-down buildings that just need a little professional assistance and care to get them up and running as first class establishments. A lot of it comes down to personal preference and whether or not you have the money and the time to invest in renovating an old property.
Whatever your reasons for purchasing a property in Bexhill, if recent reports are anything to go by, making a property investment in the Bexhill area would be a wise move, even if you’re just looking for a sturdy family home to move your growing family into.