Location - would you buy somewhere mainly because you liked the location?

Astara

WestonDave wrote: »

We viewed our house twice - both times coming away saying "no don't like that much" and then bought it! Why? Because we really wanted to stay on the road we lived on (where we had so many friends), but needed a bigger house, which gave us 3 house type options - 2 of which were worse! To be fair part of the reason we didn't like it was that the estate agent had done the usual trick of dressing it up with a load of flannel and overpricing it. Knocking them down £40k off the asking price sweetened the deal a bit!

Even now we have "wouldn't it just be better to knock it down and rebuild it" conversations but we are both adament we won't move again. Over time the niggles will be resolved so that the space is better used within the house, and then we'll have the ideal combination of a great house, in a street with loads of friends, within walking distance of the city centre, but one row of houses away from open countryside.

If only it was a house but it's a flat! But you have made me think that liking the feel of area is important especially because I'm re-locating to an area I don't know very well.

mlz1413

Astara wrote: »

It's got 117 years left so that's ok but the roof needs re-doing according to the surveyor. And that is out of my hands and up to the freeholder and managing agent to do. They have no plans to do it at the moment which could be a potential problem.

Have you checked the maintenance fund held by the managing agent?
What should happen is every flat pays into a pot from day one for maintenance then as the years go by maintenance can be afforded as needed.

If the managing co haven't built up and maintained a fund then when the roof becomes an issue they will increase everyones charges dramtically to cover the costs. Its really worth checking out before you buy.

Soot2006

My house is a bit crap to be honest ..... but I love it because when I open my curtains I can see rolling downland and sometimes a glint of sea in the distance. And that makes everything ok as we saving up to make the house less crap. And one day, it will be a wonderful house with an amazing view in a lovely neighbourhood!

I viewed some beautiful houses ... but in a dirty, grey, dank looking area. No thanks!

pie81

Is there a reason you need to buy something now? Sounds to me like it might be worth waiting for more to come on sale in your preferred location?

Fire_Fox

Astara wrote: »

It's got 117 years left so that's ok but the roof needs re-doing according to the surveyor. And that is out of my hands and up to the freeholder and managing agent to do. They have no plans to do it at the moment which could be a potential problem.

It's not out of your hands, the freeholder has a contractual obligation to maintain the property as laid out in the long lease. You can start by reading your long lease alongside the LEASE website (http://www.lease-advice.org/publications/)
and formally requesting the freeholder commences the consultation process to repair/ replace the roof.

Your ultimate sanction is to take the freeholder to an LVT for a breach of the lease; as you have a surveyors report stating in needs replacing that should not be necessary. Mlz1413 is referring to a 'sinking fund' which many leasehold properties do not have as it is not allowed for in the long lease.

Astara

There is a sinking fund and I will read the long lease and check out the Lease website.