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Would You Buy A Flat Above A Dentist
Joey122
Posts: 459 Forumite
So I am priced out of buying a flat in London at the moment - I have a budget of £120,000 and do not want to take a mortgage out
I ve seen a flat above a dentist being sold - From what I gather getting a mortgage on a flat above shops is difficult but possible (so selling it later might be tricky)
However has anyone looked closely at buying above comercial premises??
Apart from the remortgage problem what else needs to be considered?
What does the panel here think?
I ve seen a flat above a dentist being sold - From what I gather getting a mortgage on a flat above shops is difficult but possible (so selling it later might be tricky)
However has anyone looked closely at buying above comercial premises??
Apart from the remortgage problem what else needs to be considered?
What does the panel here think?
0
Comments
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I wouldnt buy anything above or beside a commercial outlet. Todays dentist could be tomorrows kebab shop/off licence/massage parlourFeudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..0
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C_Mababejive wrote: »Todays dentist could be tomorrows kebab shop/off licence/massage parlour
Sounds like one hell of night out!0 -
C_Mababejive wrote: »I wouldnt buy anything above or beside a commercial outlet. Todays dentist could be tomorrows kebab shop/off licence/massage parlour
Think discount......... :eek:Not Again0 -
Radiantsoul wrote: »Sounds like one hell of night out!
LOL, Count me in!I love giving home made gifts, which one of my children would you like?
:A 0 -
Three types of fillings..?Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..0
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Getting a mortgage above a commercial property is not necessarily difficult at all. I lived above a shop for 5 years, and had no problems at all. It might mean that other people are less interested as buyers when you come to sell, but chances are many will be in the same position as you - first time buyers needing somewhere cheaper!
What you should do is check the lease on the commercial property below the flat. The shop I lived above had a lease which stipulated it couldn't be used as a take away place, food store, bar etc, and it was an established newsagent which was hugely reassuring.
Good luck!
KiKi' <-- See that? It's called an apostrophe. It does not mean "hey, look out, here comes an S".0 -
With some lenders reluctant to lend on properties above commercial premises in the past ( during the boom times ), I would be very concerned about the future. Many lenders over the last 12 months have indicated a reducing appetite to lend on properties above commercial premises, flying freehold, short leases etc.
Don think " Discount " think about whether you will be able to sell in a few years time0 -
I don't think a dentist would bother me, but I'd definitely check to see what kind of commercial premises it is, and what it potentially could be changed to. I have no real idea about it, but aren't there some 'classes' of commercial premises that can't be changed to food retail outlets - and some kinds of food retail outlets that can't become a 'fast-food' kind of place?0
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I'd be very wary of buying above any commercial premises. An acauaintance bought above a fireplace shop some years ago. The business later turned into an adult book store. The result is that he has found it almost impossible to sell0
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Depends if said dentist is a regular victim of thieves after drugs.
Also what hours they're open. Where your access is.0
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