£130K one-bed apartment in Herts - good value?

hodd

I’m a UK citizen, but I live and work abroad. I’m looking for a property in Herts to spend time in during weekends and holidays. In about ten years or so, I would probably considering renting out the property.


I’d prefer a house, but the practicalities such as putting bins out on the right days are not easy if I’m not there much. Therefore, an apartment along with its service charges is the best option. So, with half an eye on renting in the future, I would value opinions on this place, i.e. too expensive, not enough lease remaining, very good, etc?


http://www.zoopla.co.uk/for-sale/details/11790935?utm_source=nest&utm_medium=feeds


One bed apartment
Location: Stanstead Abbots
(41 minutes direct train ride to London Liverpool Street)
Price: £130K
Annual maintenance: £1000
79 years lease remaining

sooz

The lease is too short, & marriage value kicks in under 80 years.

hodd

Thanks sooz.

I've just been off to read about marriage value, interesting.

I'm going to steer clear of leases with under 80 years remaining. However, even in these slow market conditions, people continue to buy similar properties in this part of Herts with 70 or even less years left on the lease. If lenders are reluctant to lend, I assume the buyers are buying outright. But I would also assume such buyers, with £150K or more to spend, would be financially au fait. So, I’m just curious who is buying these shorter lease properties.