UK Landlord Forum / Life

If you were to suddenly inherit the freehold on a four-bedroom semi-detached in the south east of England, what would you do with it?

Assume the property would be worth approximately £230,000, would need upgrading somewhat, and was sited on a main road running through West Sussex.

The property also has a double garage, a garden, and a loft conversion counting as one of the four bedrooms.

Presuming you wouldn't just live in it, how might you invest in it, or earn an income from it?

Would you split it into two flats?

Use it as equity for a buy-to-let?

Extend it, and/or sell it outright, and buy a cheaper house/flat somewhere else?

None of the above...?

I guess it's obvious this is more than a pure hypothetical, but I'm interested to hear what more experienced property owners/developers might do if they had such an advantage from the beginning.

I hope this isn't as dumb a question as I fear it might be, though, I admit, I am looking to benefit from the collective hindsight of everyone here.

Thanks.

The first thing I would do is dance an Irish jig.That is a lovely part of the world,main road notwithstanding.A lot depends on your age,family,temperament and work circumstances.I think I would get an agent to do a hypothethical  valuation, based upon the state after renovation.Then research likely rental income.If you are not living locally you would need to allow for agent's managing fees.It sounds as if you are already involved or planning to  get into BTL?   This is not a dumb question at all.This is a lovely windfall and you naturally want to make the best of it.I envy you!