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Taylor Wimpey flats

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vaani114411
vaani114411 Posts: 20 Forumite
edited 26 September 2017 at 2:14PM in House buying, renting & selling
Hi,

I am considering to buy a new built flat near West Ruislip station in London by Taylor Wimpey in Highfield courts, my favoured area. I read about HS2 tunnel that will pass through and being a major project, I am expecting some disruptions on the road. Not sure but I am reluctant because the developer is offering a flat which has balcony in bedroom with a hefty discount. The balcony is facing the high road. I am considering to buy under Help to Buy Equity loan scheme, I am first time buyer and intend to sell the property after 5 years but knowing the fact of the noise level, I am unsure whether I should go ahead and also concerned what if the property I am buying right now, I am not able to sell after 5 years. Thinking..... Any ideas/ suggestions will be very helpful ...!! Thanks heaps
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  • diggingdude
    diggingdude Posts: 2,445 Forumite
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    You should buy it because you want to live there, not to necessarily make money. If you're not prepared to be stuck with it or sell at a loss then you shouldn't buy
    An answer isn't spam just because you don't like it......
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
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    Unless it is really cheap when you come to sell it second hand without the premium for it being new you could find yourself competing for buyers with something like this. http://www.rightmove.co.uk/property-for-sale/property-45536415.html All that will mean is that you will make a loss trying to sell next to a busy road and railway line.
  • buglawton
    buglawton Posts: 9,235 Forumite
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    Cakeguts wrote: »
    Unless it is really cheap when you come to sell it second hand without the premium for it being new you could find yourself competing for buyers with something like this. http://www.rightmove.co.uk/property-for-sale/property-45536415.html All that will mean is that you will make a loss trying to sell next to a busy road and railway line.
    Amazing how supposedly professional estate agents can insert a photo like the final one, discarded plastic bag on terrace anyone?
  • vaani114411
    vaani114411 Posts: 20 Forumite
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    I wish to live there for long term but taking into consideration the value of the flats nearby and also considering the plot I am looking to buy was placed on website in April and still hasn’t been sold, I am confused. I have actually negotiated so much and I am happy with the price. The properties in the same area much bigger are sold between £350 - £400 k range.
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
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    vaani114411 wrote: »
    I wish to live there for long term but taking into consideration the value of the flats nearby and also considering the plot I am looking to buy was placed on website in April and still hasn’t been sold, I am confused. I have actually negotiated so much and I am happy with the price. The properties in the same area much bigger are sold between £350 - £400 k range.

    So if properties that are bigger in the same area sell for £350-£400k and are bigger than the one you are buying that means that second hand the one you are looking at will sell for between £275- £300k in that area. So unless you are going to pay about £300k for it you are going to lose money straight away and that is without what happens to the railway.
  • buglawton
    buglawton Posts: 9,235 Forumite
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    Why not buy a 10 year old one? It's less likely to have a toxic ground rent escalator built into its lease.
  • vaani114411
    vaani114411 Posts: 20 Forumite
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    I quite get your point but because I am buying under Help to Buy equity loan scheme I can afford the property. Otherwise, it is just so difficult to pay for deposit, stamp duty and other nasty expenses. I prefer an untouched property. Saw some old properties but they are not for me.
  • vaani114411
    vaani114411 Posts: 20 Forumite
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    And provided I am paying £1250 for a 2 bed room flat for rent, I believe for paying £600 for mortgage would save me some
    Money for my next property but only if I am able to sell this one.
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
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    vaani114411 wrote: »
    I quite get your point but because I am buying under Help to Buy equity loan scheme I can afford the property. Otherwise, it is just so difficult to pay for deposit, stamp duty and other nasty expenses. I prefer an untouched property. Saw some old properties but they are not for me.

    You pay extra for an untouched property as you call it. However builders tend to use cheap fitments and owners who put in new bathrooms tend to go for better quality. So in a new build you pay more when it is new and you buy builders cheap fittings. If you buy a property that is a bit old fashioned you can put all new things into it that are new to you and you don't have to pay the premium because the building is new.
  • vaani114411
    vaani114411 Posts: 20 Forumite
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    I have the option to upgrade appliances and other fittings and also a monetary reduction has been given and that is the reason a buyer gets lured. Such a trap!
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