Just earlier today new landlord walked into the office with a 2 bed flat to rent in Croydon. Obviously, that immediately made me smile 🙂
He had found my writings on this blog and wanted to dig a bit deeper in the Croydon property market.
He wanted to know some information about Croydon, and wanted to instruct me to Let it out for him. It was a 2 bed flat opposite the office on Woodstock Road, Croydon with a purchase price of £332,000.
I made him aware that, with a total area of 48sqm, it seems (from cold hard fact – I haven’t seen the property) that he has paid market value, if not, slightly higher than market value. No garden, no parking.
I was pleasantly surprised to hear back that he actually knew that he has overpaid. He just did not want to miss this deal. It’s in a good block and incredibly close to East Croydon station. Like I had guessed, his game was a long term capital appreciation, and in the mean time, he wanted to rent the flat.
Again, this landlord had done his research (humbled that he said he had ‘read all of my blogs’). Therefore, his decision to purchase a 2 bedroom property was not a ‘stab in the dark’… he knew it was the best type of property to buy around East Croydon Station for his particular goals.