Massive 50% falls in Flats spreading fast across Britain

brit1234

hethmar wrote: »

But for a lot of ftb ers, they dont want the maintenance needed on a house - usually both are working and they will want time to relax and go out in the evenings and weekends - not have to do diy and mowing of lawns, so I do understand how attractive a new flat would be. And they are often placed in the areas young people want to be. Terraced houses are obviously a better buy, but they also can be very noisy with children in the gardens and running about in the houses either side of you.

However I would rather put up with kids and cutting grass than paying £150-200 service charge. That could be extra money pouring into my mortgage repayments or a better quality of life.

Also being a little artistic and proud I would enjoy making my front and rear garden visually stunning to raise the character of the street and boost my self confidence. Yes my first time home will be a 2 bed terrace. With an extra £700 deposit and £2,000 London price falls this month my dream is a little closer.:p

chucky

in which area are you looking to buy Brit?

Dithering_Dad

hethmar wrote: »

But for a lot of ftb ers, they dont want the maintenance needed on a house - usually both are working and they will want time to relax and go out in the evenings and weekends - not have to do diy and mowing of lawns, so I do understand how attractive a new flat would be. And they are often placed in the areas young people want to be. Terraced houses are obviously a better buy, but they also can be very noisy with children in the gardens and running about in the houses either side of you.

If you get a new-ish build or renovated terrace (or are they called 'townhouses' :rolleyes:) then there's no more maintenance than an apartment. As far as mowing the lawns, just put down gravel or block paving with some low maintenance plants/shrubs in the borders. Great for BBQs and parties, especially if you have dirty smokers for friends.

Each to their own though.

hethmar

Oh Im far too old to be a first time buyer guys , I have a quarter of an acre to mow here and its getting a bit much for me - but I know from my own children that they dont seem to want to be "tied" to a house whilst they are young and free from kids - may be it smacks of middle age to them

brit I understand about the service charge but you sound like you are happy to settle into a domestic sort of life, doing you garden and so on, so it would suit you. However would point out maintenance of a house will inevitably be more costly than that of a newish flat, so keep those savings on service charges to one side to cover any unexpected costs.

ad9898_3

To be honest I think 50% is just the start, I think a lot of inner city flats will drop by 80-90% if the government and HA start filling them with chavs. It just makes me laugh when I here all this 'not enough homes built' or 'pent up demand'.

Once the the flow of BTL'ers start squealing and trying to sell, people will see just how many properties there are for sale.

There is a huge over supply of housing, its just been masked by the BTL brigade, add in all the the Poles and eastern europeans who are leaving the country in droves and people will finally see that 'the emperor has no clothes'

hethmar

So why was there all the fussing about us needing another couple of million houses then? Why in my lovely little country town have we got rotten builders putting in applications amounting to 5000 !!! new homes despite all our local protests. Doesnt make sense at all.

brit1234

chucky wrote: »

in which area are you looking to buy Brit?

West London.

Isleworth, Twickenham, Ealing, Brentford type area.

Its good there are already prices in my range, unthinkable 12 months ago.

Lets see whatt the next 12 months brings

BigBumpaGirl

hethmar wrote: »

But for a lot of ftb ers, they dont want the maintenance needed on a house - usually both are working and they will want time to relax and go out in the evenings and weekends - not have to do diy and mowing of lawns, so I do understand how attractive a new flat would be. And they are often placed in the areas young people want to be. Terraced houses are obviously a better buy, but they also can be very noisy with children in the gardens and running about in the houses either side of you.

I agree, i am a first time buyer and am looking to buy a new build apartment. I fully understand that they are often overpriced, hence I will be putting down a large deposit to hopefully avoid falling into negative equity. I work full time and would not know where to start with regards to doing up a house. Due to my lifestyle I do not want to have a garden to maintain, as I do not have the time. I do not intend to move anytime soon as I have just secured a really good promotion at work.

Are there any first time buyers out there who have purchased new builds who agree with me, or am I simply mad?

zippeh_2

agree, i am a first time buyer and am looking to buy a new build apartment. I fully understand that they are often overpriced, hence I will be putting down a large deposit to hopefully avoid falling into negative equity. I work full time and would not know where to start with regards to doing up a house. Due to my lifestyle I do not want to have a garden to maintain, as I do not have the time. I do not intend to move anytime soon as I have just secured a really good promotion at work.

Are there any first time buyers out there who have purchased new builds who agree with me, or am I simply mad?

Your not mad BBG, ultimately you have to do what's right in your particular situation. Somewhere to live is not simply an investment in my opinion, it's a home as well. Finding a happy medium between the two is key.

hethmar

As long as you knock the price of the new build down Big, I cant see why anyone should think you are mad Our first house was a Victorian terrace, surrounded by couples with kids and the noise was horrendous in the house as stairs ran up the joining walls. I was frightened of even going to the loo as I imagined as we could hear them, they could hear us - lol. Then there was a lot of curtain twitching and tutting all the time as we were the only young couple in the street.

We managed to get a completely detached cottage as our second home - what a relief that was. At least the new apartments have the extra soundproofing needed for some peace But check out they have first.