PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Would you buy on a council estate?

Options
13567

Comments

  • sarahevie
    sarahevie Posts: 1,003 Forumite
    We very nearly bought an ex council house (summer 2007 peak of the market) and I am soooo glad we didn't.

    The house was larger than the one we ended up with, bigger garden etc - 80% of the houses on that estate are privately owned (although many to landlords housing DSS). We got stats on this from the council (number privately owned on the estate)


    The biggest problem though, whereas the houses on our street largely 3 bed terraces and semis (1920s) have sold for similar prices to what we paid. On the ex council estate properties are going for up to £40,000 less.

    The house we nearly bought sold in summer 2007 for £135,000 - that same house has recently sold for £95,000. Our next door neighbour moved in three months before we did (May 2007) paying £155,000 - they have just sold their house (done no work on it but it is fairly modern anyway) for £175,000.

    In our area the ex LA properties seem to have been hit hardest by the property down turn
    OPs so far £42,139
    Original end date Nov 2037 (53) Current end date June 2024 (40) Aiming for 5 years to be Mf
    DD1 Oct 2008:), DD2 Jul 2010:), DD3 Aug 2013:)
    When life is getting me down I try to remember to thank God for the blessings
  • sarahevie wrote: »
    We very nearly bought an ex council house (summer 2007 peak of the market) and I am soooo glad we didn't.

    The house was larger than the one we ended up with, bigger garden etc - 80% of the houses on that estate are privately owned (although many to landlords housing DSS). We got stats on this from the council (number privately owned on the estate)


    The biggest problem though, whereas the houses on our street largely 3 bed terraces and semis (1920s) have sold for similar prices to what we paid. On the ex council estate properties are going for up to £40,000 less.

    The house we nearly bought sold in summer 2007 for £135,000 - that same house has recently sold for £95,000. Our next door neighbour moved in three months before we did (May 2007) paying £155,000 - they have just sold their house (done no work on it but it is fairly modern anyway) for £175,000.

    In our area the ex LA properties seem to have been hit hardest by the property down turn

    Thanks - that's a very valid point. I am obviously aware that an LA house is going to bring less of a premium than a private house BUT, in my town, three bed semis with a decent garden are really at a premium (lots of massive detached and small terraces).

    Similarly, the house at the back of the one we are looking to buy, sold for £150,000 in 2007 (peak). It won't be worth that now.

    We are clearly paying less because it's LA, and we're in a property slump. It's a good time to buy in a slump, rather than a peak! Hopefully, in 4-5 years, we'll have gained value rather than negative equity! No way of knowing this though. Private houses in my town that sold in 2007 are not selling for equivalent amounts today.
  • jw2003
    jw2003 Posts: 786 Forumite
    We bought an ex-LA house last year. It's a good solid well built home and is a great size. We're putting it on the market shortly but it has nothing to do with the area, more to do with the part of England the area is in ;) There is a ceiling with LA housing so I'm hoping we appeal to ftb's
    :silenced:
  • theartfullodger
    theartfullodger Posts: 15,701 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 4 August 2010 at 11:03PM
    I've bought 4, no regrets about any: I think they are often better built than many spec. built estates..

    Prejudiced people may look down their noses at council estates... let them.... Some people think they are better than others... often they ain't...

    Cheers!

    Lodger
  • skintchick
    skintchick Posts: 15,114 Forumite
    Debt-free and Proud!
    That doesn't sound dissimilar to mine actually, although mine is more like four or five streets and one of them is quite long! Are they 'obviously' LA? Mine is 1950s and so a bit more attractive than the later council-built stuff.
    Yes they're obvious but not so much because of architecture, more the general slightly run down feeling of the whole street! Compared to the surrounding streets, I mean, where all is very posh and immaculate. But the people next door to us on one side are not ex-LA. They are 1930 so reasonably attractive although could be nicer I guess.
    :cool: DFW Nerd Club member 023...DFD 9.2.2007 :cool:
    :heartpuls married 21 6 08 :A Angel babies' birth dates 3.10.08 * 4.3.11 * 11.11.11 * 17.3.12 * 2.7.12 :heart2: My live baby's birth date 22 7 09 :heart2: I'm due another baby at the end of July 2014! :j
  • roy_harper
    roy_harper Posts: 237 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    [QUOTE
    Is there anywhere I can look at reported crime/anti-social behaviour by postcode? All I've found is levels for the whole town.[/QUOTE]

    Try wwwupmystreet.co.uk and select the 'crime' section.

    But it's not terribly accurate. eg. our town says it has had one murder, but it's the quietest, loveliest place day-to-day. Why not pop into the police station, as they will have a more realistic input.
  • Is there anywhere I can look at reported crime/anti-social behaviour by postcode? All I've found is levels for the whole town.

    Have you tried http://maps.police.uk/
    Act in haste, repent at leisure.

    dunstonh wrote:
    Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.
  • Have you tried http://maps.police.uk/

    Thanks but that site, and the Upmystreet one only break down into figures for the whole town, rather than by postcode.
  • theartfullodger
    theartfullodger Posts: 15,701 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Why not pop into the police station, as they will have a more realistic input.
    Always go Saturday nite about 11:30 .. very illuminating...
    .
    Also, go visit where you plan to live Friday/Saturday evening...

    Cheers!

    Lodger
  • Thanks but that site, and the Upmystreet one only break down into figures for the whole town, rather than by postcode.

    Have you zoomed in enough? You should get parish/ward level, not just town.

    Not sure you will get meaningful stats at postcode level, too small a sample.
    Act in haste, repent at leisure.

    dunstonh wrote:
    Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.9K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.