Crikey, am I doing the right thing?

gingin_2

Hi Vyle

Do you really want and need to buy now? I would say if you are having doubts then do not go for it.

I live in Cambridge as well and guessed on one of your other threads where the location of the flat was. You asked me not to post doom and gloom and I didn't as you seemed so upbeat at the time, but do you really want to move to Arbury Park and live in a flat there for 10 years? Did you see it featured in the national news as a flagship for one of the most poorly finished new build developments in the Uk? Cambridge is a nice city but Arbury is known as being the very worst part of it

http://www.cambridge2000.com/azara_blog/html/2008/09/20080915_arbury_park.html

or have a read of the residents forum

http://www.insidearburypark.org.uk/Community/Forums/tabid/75/view/topics/forumid/1/Default.aspx



£150k might seem like a bargain, but I do believe that Cambridge is lagging slightly behind some of the other cities and WILL catch up. Assuming you get these places below at a good discount ,your budget would get you a 2 bed terrace in Cherry Hinton (much, much nicer than Arbury)

http://www.rightmove.co.uk/property-for-sale/property-22830677.html?pageNumber=2&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E274%26maxPrice%3D175000%26index%3D10&locationIdentifier=REGION^274&radius=0.0&maxPrice=175000

or a flat in the city centre

http://www.rightmove.co.uk/property-for-sale/property-11312904.html?pageNumber=1&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E274%26maxPrice%3D175000&locationIdentifier=REGION^274&radius=0.0&maxPrice=175000

or even a 3 bed terrace in Arbury, but at least in a more established area

http://www.rightmove.co.uk/property-for-sale/property-19994614.html?pageNumber=3&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E274%26maxPrice%3D175000%26index%3D20&locationIdentifier=REGION^274&radius=0.0&maxPrice=1750003D20&locationIdentifier=REGION^274&radius=0.0&maxPrice=175000

Cromwell road is in a fab position and a much safer area

http://www.rightmove.co.uk/property-for-sale/property-20716811.html?pageNumber=3&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E274%26maxPrice%3D175000%26index%3D20&locationIdentifier=REGION^274&radius=0.0&maxPrice=175000

I think you are mad for buying here. I don't believe prices will fall 50% across the board, but I believe Arbury Park could go that way

Good luck

PasturesNew

gingin wrote: »

...do you really want to move to Arbury Park and live in a flat there for 10 years? Did you see it featured in the national news as a flagship for one of the most poorly finished new build developments in the Uk? Cambridge is a nice city but Arbury is known as being the very worst part of it

http://www.cambridge2000.com/azara_blog/html/2008/09/20080915_arbury_park.html
http://www.insidearburypark.org.uk/Community/Forums/tabid/75/view/topics/forumid/1/Default.aspx

...Cherry Hinton (much, much nicer than Arbury)

http://www.rightmove.co.uk/property-for-sale/property-22830677.html?pageNumber=2&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E274%26maxPrice%3D175000%26index%3D10&locationIdentifier=REGION^274&radius=0.0&maxPrice=175000

or a flat in the city centre
http://www.rightmove.co.uk/property-for-sale/property-11312904.html?pageNumber=1&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E274%26maxPrice%3D175000&locationIdentifier=REGION^274&radius=0.0&maxPrice=175000

or even a 3 bed terrace in Arbury, but at least in a more established area
http://www.rightmove.co.uk/property-for-sale/property-19994614.html?pageNumber=3&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E274%26maxPrice%3D175000%26index%3D20&locationIdentifier=REGION^274&radius=0.0&maxPrice=1750003D20&locationIdentifier=REGION^274&radius=0.0&maxPrice=175000

Cromwell road is in a fab position and a much safer area
http://www.rightmove.co.uk/property-for-sale/property-20716811.html?pageNumber=3&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E274%26maxPrice%3D175000%26index%3D20&locationIdentifier=REGION^274&radius=0.0&maxPrice=175000

Having grown up and lived in all those areas, I'd agree re Arbury Park. If you can afford to live anywhere else - and if you're not a local/connected to that area, then buy ANYWHERE else.

Personally, from the above list, going purely on location, I'd choose Lucerne Close, Cherry Hinton or the King Street flat. Next Cromwell Road, Hawkins Road and lastly Arbury Park.

If I were really looking, I'd only choose Cherry Hinton or King Street. I'd not even look at the rest most likely. My recollection of Cromwell Road was it was a bit rough and ready and a rat run (I myself have raced down that road aiming for the huge traffic-calming bollards at the roundabout at about 70mph, trying to get away from gypsies at about 2am one night ... lining up the car and shooting straight through those bollards with confidence... luckily the gyppos bottled it).

Although I have several relatives and had many old friends on the established Arbury Estate, I'd never actually live there myself. I never found it rough or dangerous myself, but then I never took risks when I was out and about on the estate - and that was more than 10 years ago, I'm sure it's got worse.

gingin_2

PasturesNew wrote: »

Having grown up and lived in all those areas, I'd agree re Arbury Park. If you can afford to live anywhere else - and if you're not a local/connected to that area, then buy ANYWHERE else.

Personally, from the above list, going purely on location, I'd choose Lucerne Close, Cherry Hinton or the King Street flat. Next Cromwell Road, Hawkins Road and lastly Arbury Park.

If I were really looking, I'd only choose Cherry Hinton or King Street. I'd not even look at the rest most likely. My recollection of Cromwell Road was it was a bit rough and ready and a rat run (I myself have raced down that road aiming for the huge traffic-calming bollards at the roundabout at about 70mph, trying to get away from gypsies at about 2am one night ... lining up the car and shooting straight through those bollards with confidence... luckily the gyppos bottled it).

Although I have several relatives and had many old friends on the established Arbury Estate, I'd never actually live there myself. I never found it rough or dangerous myself, but then I never took risks when I was out and about on the estate - and that was more than 10 years ago, I'm sure it's got worse.

I think it has got worse, as has Chesterton.

Perhaps I am a bit biased towards Cromwell Road as I don't live too far from there. I was thinking more if the OP had set his/her heart on a new build flat, then the location is 10x better than Arbury, on that budget.

Thrugelmir

vyle wrote: »

Quick overview:

Tuesday - reserved off plan property for 155995 with carpets, tiling and integrated appliances.

Wednesday - cancelled that for a flat my partner and I love (it was our first choice but was 199995 originally) for 155000 with integrated appliances and carpets.

Thursday - Original seller rings up saying that they'll drop to 144995.

Friday - Called current seller to see if they can match/do anything to make us stick with them.

The thing is, we will stick with them anyway, because it's there, it's built and we like it best, but part of me is thinking "11k off the mortgage would really help."

I'm waiting for a call back from Persimmon - the ones we're reserved with at the moment - to see if they can do anything. Am I silly potentially spending 11k more, or is an 11k saving not worth the risk of buying off plan?

In the current market wait......... Time is on your side. Play the sellers off against each other. Don't overpay for either property.

Remember appliances, fittings etc depreciate and may have negible value by the time you sell the property.

PasturesNew

Thrugelmir wrote: »

Remember appliances, fittings etc depreciate and may have negible value by the time you sell the property.

That's assuming they're still IN the property by the time he gets his hands on the keys ... it is Arbury!

fitcrazy

boyse7en wrote: »

If you really must buy now, go for the finished one. The risk you are taking is that the 'off-plan' one will never be finished, or will be built really slowly so they can hang on to your deposit.

exactly. we reserved last year in july and have got nowhere, 6 months down the line they still havent started building and we've been messed around so much (read my new post - persimmon kept us waiting 6 months for nothing! ) You may be lucky and it all work out, i wish you well.

pandamonia

150k for a flat in a !!!! hole?

lol what a deal