buying a flat above shops

ClareyFairy

Obviously im aware of potential noise but is there anything else to be aware of when buying above a shop. Would it create any problems with getting a morgage?

thank you

Catatonia

It could create mortgage problems, depending on what kind of shop it is.

geri1965_2

A knocking shop might be a problem.

lucylucky

Years ago I owned a flat over a shop next door to a pub, never had any problems, but who knows what lenders do in today's climate.

satchmeister

What about when you want to sell it? IMHO always buy with a view to future sale.

Richard_Webster

Remember just because you might be bale to get a mortgage with a lender that will lend on a flat over a shop, doesn't mean that a buyer in the future will be able to do so.

So you have to be paying less for it for that reason quite apart from potential disturbance issues.

Jowo_2

Potential smells - future change of use to a kebab shop.

Potential hazards - higher fire risk from takeaways or inflammable materials associated with dry cleaners?

Rautavaara

I was also considering, but am not quite so keen on the idea.

The current shop/premises may be fine, but who knows what it might become in future? Bookmakers, Off-Licence, Pound-shop ... it's a difficult one to call.

Also, notice how homes above shops are somewhat cheaper? The ground rent and service charge for such properties tends to be higher, and that's excluding any additional insurance costs.

Also, as mentioned, mortgaging for such properties can be more troublesome.

Over the past three or four of months the properties that I have noticed that have been around the longest are those above shops. That's despite being more reasonably priced, and some done up to very high standards indeed.

I may still go down that route, but it'd be a last resort, and I'm more likely to just stay put.

DogsBody

Potential hazard

Used to live (rented though) in a flat above an off-licence. OK area, shop were excellent neighbours, nothing bad to say about the 'living there' part. BUT my flat was broken into more than once by 'reprobates' attempting to get into the shop for nefarious purposes, via my floorboards! That would concern me .

themull1

If the shops have metal shutters they're really noisy when its windy....

ClareyFairy

Thanks for your replies. I get sent updates each day of anything that comes up within my search area and price range and was sent this

rightmove.co.uk/property-for-sale/property-27879940.html

and had never even thought about being above a set of shops before.