Buying a studio or 1 bedroom in Gunwharf

Honeyzee

I am looking to buy a studio apartment in Gunwharf, Portsmouth. I think a studio apartment will be great for me, but eventually I will look to rent..

Do people really like to rent Studio apartment or will a 1 bedroom apartment be a better investment for me?

The studio apartment will be £155,000 and the 1 Bed £180,000...

I also think the way the market is at the moment, the prices are a bit negotiable... (well hoping so)

**Amy**

Hi

Just speaking from personal experience, my first rented accommodation was a studio and I really didnt like it.

After the lease ended I quickly moved into a 1 bedroom flat and felt like I had a lot more space (even though there wasnt that much more, it was simply having the bedroom and front room as seperate areas).

I would be more inclined to go for the 1 bedroom property.

Honeyzee

I can see where you are coming from..

neverdespairgirl

Do the numbers stack up? Do you have a 20 - 25% deposit, and does the rent cover 125% of the proposed mortgage?

emg

Sounds way overpriced to me, there are plenty of nearby places that are cheaper...even new builds

http://www.rightmove.co.uk/viewdetails-18215249.rsp?pa_n=1&tr_t=buy
http://www.rightmove.co.uk/viewdetails-9654009.rsp?pa_n=2&tr_t=buy

Which development are you looking at?

Richard_Webster

Properties in fancy locations lose more in slumps and improve more in good times.

Is OP prepared to live there for a long time and ride the storm? If you are cautious with your money don't buy in one of these places now, buy something more bog standard more cheaply.

mewbie_2

neverdespairgirl wrote: »

Do the numbers stack up? Do you have a 20 - 25% deposit, and does the rent cover 125% of the proposed mortgage?

Tut - details, details...

SquatNow

Honeyzee wrote: »

I am looking to buy a studio apartment in Gunwharf, Portsmouth. I think a studio apartment will be great for me, but eventually I will look to rent..

Do people really like to rent Studio apartment or will a 1 bedroom apartment be a better investment for me?

The studio apartment will be £155,000 and the 1 Bed £180,000...

I also think the way the market is at the moment, the prices are a bit negotiable... (well hoping so)

:rotfl: :rotfl: :rotfl: :rotfl: :rotfl:


:rotfl: :rotfl: :rotfl:


:rotfl: :rotfl: :rotfl: :rotfl:


:rotfl: :rotfl: :rotfl:

nearly done.

:rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

....and breath. Ok I feel better now.

What your planning to do here, is lose £25k and financially cripple yourself for life.

Prices are falling off a cliff.

Bedsits (Studios as they are now called) and 1 bed flats are falling the fastest.

Just do yourself a favour and put your £25k in a bucket and set fire to it. You'll be poorer and you'll feel silly, but no-where near as poor and silly as you'll feel in 2 years when your £155k appartment gets valued at £80k.

Seriously mate, sit on your deposit money, in a few years you'll probably be able to buy that bedsit outright with it.

Alfie1999

If you look on rightmove there are lots of 1 br apts in Gunwharf Keys for rent at around £750.

Perhaps if you take a look at what an IO mortgage will cost per month and compare i against the rental price you might get a balanced view.

Oh, but don't forget to knock off 30-40% of your flats value in real terms over the next 3 years or so.

GDB2222

In the last slump, studios became virtually unsaleable, as FTBs could afford to buy 2 bed flats and did so. Ideally, avoid one-bed flats too.

SouthCoast

I have actually viewed flats in Admiralty Quarter, Pompey.

The figures do not stack up on a BTL basis.

http://www.admiralty-quarter.co.uk/