Opinion on this property

Pound

In my financial situation I'm currently limited to buying a property for £70K. Most people say you wouldn't get much for that.

When I do a search this property always seems to come up:

http://www.rightmove.co.uk/property-for-sale/new-homes/property-23496490.html

From the pictures it looks spacious and attractive. At first glance it looks ideal, so why is it only £70K?

The only negative I can see about it is that it's right in the middle of the town centre and it will probably be noisy day and night as well as having a good view of drunks. Personally I think I could tolerate it.

Am I missing anything else here?

newsseller12

the listing says prices from 70k its a new development. probably leasehold with massive service charges

Pound

OK, I'll check the service charge; I think £1200/annum is the most I'd pay.

Is leasehold a bad thing? I know it's technically renting but I still have the option of selling the property to someone else as though it was my own property?

steve1980

Pound wrote: »

OK, I'll check the service charge; I think £1200/annum is the most I'd pay.

Is leasehold a bad thing? I know it's technically renting but I still have the option of selling the property to someone else as though it was my own property?

Sometimes, especially when the managing agent is an a**e!

Of course you can sell to someone else!

caeler

Remember you are viewing pictures of the larger/nicer show flat. There are 20 flats, starting from £70K with the smallest being 37 sqm. If you expand the search criteria you'll notice the actual flats are advertised at £80K+ This makes me think there are no flats available at £70K and they are just trying to get some interest. You also might find that these prices include shared equity because in that area there is nothing at that price without shared equity.

Leasehold is considered 'bad' because you are beholdent to somebody else. Your lease is of limited time and there are costs to renew. There can also be fees to be paid if you rent it out, want to change the structure/layout, etc. There are service charges which I believe can increase over the years. Plus you are liable for repair/maintenance costs outside of your service charge. You don't get any of this complication with freehold which is why it is preferred.

bmar71n

the pictures aren't necessarily of the flat available it is more likely to be pictures of the show home somewhere else on the same development and are probably only intended to give an indication of the completed product

especially as there are pictures of two different bedrooms, on an advert for a one bedroomed property! lol.

dimbo61

Does it suit your needs ?
No mention of parking spaces !
1km to train station great if you need to catch train to work!
ground floor. first floor, second floor, which one is it ?
Yes it might be noisy but do you think lots of drunk people will walk past at 1am on thursday,friday.sat night ? Nightclub next door or big brick walls and electric gates into car park!
If you are a single person and live/work in stafford it might be ideal !
Pictures are of a show flat so you need to go with a friend and read the information pack very carefully ( can you sub let the flat if you have to MOVE due to work or want bigger place )
Is it shared equity and might the other flats end up being rented out by BTL landlords or COUNCIL

Brallaqueen

There are a (very) few houses in Stafford for a similar price, are any of them in ok areas?

I was like you, limited budget and could only afford a house on sh1thole estates or a flat in a nicer area. I chose the flat but only after checking out all the houses first and ruling them out. if I had found a little gem in a not so bad place I would have leapt on it.

Pound

Thanks for the replies.

Can I have thoughts on this property:

http://www.rightmove.co.uk/property-for-sale/property-16199067.html

This is £70K again, it looks ok to me. I see the front is a bit of an eyesore and some of the rooms are in need of redecorating but I feel like it's acceptable considering the low price.

Also, with it being three bedroom I might be able to find a lodger.

Anything I should watch out for with this one?

Davesnave

Pound wrote: »

Thanks for the replies.

Can I have thoughts on this property:

http://www.rightmove.co.uk/property-for-sale/property-16199067.html

This is £70K again, it looks ok to me. I see the front is a bit of an eyesore and some of the rooms are in need of redecorating but I feel like it's acceptable considering the low price.

Also, with it being three bedroom I might be able to find a lodger.

Anything I should watch out for with this one?

Ex-council, so likely to have been built to a fairly good standard. The road looks tidy enough on Streetview, with a fair amount of obvious owner occupation.

You'd really need local knowledge here and personal visits to the area, especially in the evenings, to gauge the 'feel' of the place.

The most likely problems would be with botched DIY and/or neighbours.

andi2

Pound wrote: »

Thanks for the replies.

Can I have thoughts on this property:

http://www.rightmove.co.uk/property-for-sale/property-16199067.html

This is £70K again, it looks ok to me. I see the front is a bit of an eyesore and some of the rooms are in need of redecorating but I feel like it's acceptable considering the low price.

Also, with it being three bedroom I might be able to find a lodger.

Anything I should watch out for with this one?

It's in Meir... enough said.

I would have though there would be quite a bit for that price around Meir, or Cobridge or in fact most of Stoke.