Flat I like already on offer

marylee

Please I need your advice. I am interested into two newly convertled refurbished flat with share of freehold. The first floor one is on the market for £245,000, already of offer with three bedrooms,and the ground floor one is still available but for £220,000 as it has one double bedroom and one single bedroom.

I really like it and woud like to buy it for my daughter and son as it is within 5 mins walk from Harrow & Wealdstone station. The problem is having to share freehold and garden. How do you share a freehold and garden, what problems she might encounter with her upstairs neighbour? What happens if they do not get on? I would appreciate some comments on share of freehold and council tax, will it be cheaper. If anybody is already in share of freehold and could give me their opinion, I would be very grateful. Thanks

Doozergirl

Share of freehold is, in my opinion, better than a leasehold property. You have no concerns about the lease running down and devaluing the flat, no legal wrangles with the freeholder or cost to extend the lease. There will be no service charge, so no extra profit for the freeholder or managing agent and you have control over how the property is maintained.

Yes, there will be an element of co-operation with the other flat owners, but being a newly converted property, any maintenance requiring considerable expense will not need to be done for several years if the conversion is of any standard. There will need to be some agreement between the flat owners as to who will arrange the buildings insurance and how the garden is maintained would be useful. The less you involve outside agencies like gardeners or cleaners, the less administration needs to be done and the less opportunity for dispute.

Completely aside, if this is a small scale conversion without a NHBC (or similar) guarantee, please ensure that the build complies with Building Regualtions and has a completion certificate. A quick call to Building Control will hopefully get you an answer, otherwise your solicitor should be asking for these during the conveyancing process.