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Barn 1, Ettiford Farm Cottages

South West

£175,000
Listed on 30/10/2024

Property Details

Bedrooms
3
Type
Detached house

Description

Tucked away in the tranquil countryside, this detached barn presents a compelling opportunity for renovation and investment. Currently in need of restoration, it offers an expansive canvas for those looking to create their ideal living space or a holiday retreat. The property's secluded location grants spectacular views of the surrounding landscape, providing a serene backdrop for a potential new home. The barn sits on an elevated plot with ample space for outdoor living, making it ideal for nature enthusiasts who appreciate both privacy and picturesque settings. Given its generous layout, there is significant potential to design a bespoke property that harmonizes modern comforts with the rustic character inherent in its original structure. With plans available for a two-level conversion—featuring an open-plan lounge and dining area, two bedrooms, a study, and an upper-level primary suite—the barn allows for thoughtful customization tailored to individual tastes. The immediate area around Ilfracombe offers numerous amenities including independent shops, art galleries, and dining options that enhance community life. The coastline nearby is known for its stunning beaches and recreational activities such as surfing—a fact underscored by North Devon’s designation as one of the world’s premier surfing reserves. This vibrant local culture combined with the natural beauty of Exmoor National Park presents a harmonious blend of outdoor adventure and relaxed living. Accessibility to local schools and conveniences further enhances this property’s appeal while maintaining the peaceful ambiance typical of rural settings. Whether you envision crafting a family residence or pursuing rental opportunities in this sought-after region, this barn stands out as an exciting project ripe with investment potential. **Outdoor Features** A private driveway with access gates ensures both security and seclusion. The expansive garden can be transformed into a personal haven or entertainment space surrounded by lush woods and beautiful vistas. Additionally, there are provisions in place regarding utilities, including borehole water supply that can be connected upon completion of renovations. Current arrangements indicate that drainage options can extend to accommodate future developments within local regulations. In summary, this property not only invites creative vision but also promises long-term value in an area rich with lifestyle benefits and natural beauty. It represents both an opportunity for personal fulfillment through renovation as well as investment viability in a thriving community setting.

Investment Analysis

(EX34 area)
Area Average
£278/sq ft
Avg Rent (weekly)
£220
Avg Yield
3.8%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£150,000 - £250,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
19
Average per month
Market Turnover
6%
Properties sold annually

Local Market Trend (EX34)

Area prices are falling by +4.6% over the last 12 months
3 year growth: -11.9%
5 year growth: 6.3%
Investment Disclaimer: Analysis based on EX34 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Barn 1, Ettiford Farm Cottages
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£641
Based on a loan of £131,250 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE