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How much this property worth if it was to be sold?

24

Comments

  • jumperabv3
    jumperabv3 Posts: 1,231 Forumite
    Part of the Furniture 1,000 Posts
    Debt_Free_Chick wrote: »
    It's a new build, yes? If you're the first buyer, expect to pay a premium compared with any other similar "second hand" properties in the area.

    What's the premium for?
  • JQ.
    JQ. Posts: 1,919 Forumite
    £250,000.00
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Or, within 1 mile, you can buy this 3-bed flat for £239k http://www.rightmove.co.uk/property-for-sale/property-34311259.html

    Or something with a bit more kerb appeal at £240k http://www.rightmove.co.uk/property-for-sale/property-36877760.html
  • jumperabv3
    jumperabv3 Posts: 1,231 Forumite
    Part of the Furniture 1,000 Posts
    marliepanda wrote: »
    You must have known enough about it to buy a £370k property in it...

    Apparantely I don't.
    Anyone professional on the forum can have a paid phone conversation (paypal) etc and answer some questions related to all this? Am I asking in the right place?
  • staffie1
    staffie1 Posts: 1,967 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    jumperabv3 wrote: »
    What's so special about Wanstead?
    Why is it an expensive area?

    Why do you think it's an expensive area?
    If you will the end, you must will the means.
  • Lavendyr
    Lavendyr Posts: 2,610 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    jumperabv3 wrote: »
    Apparantely I don't.
    Anyone professional on the forum can have a paid phone conversation (paypal) etc and answer some questions related to all this? Am I asking in the right place?
    No, as I said on your other thread. You should be engaging a professional to give you proper, personal advice.
  • staffie1
    staffie1 Posts: 1,967 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    jumperabv3 wrote: »
    Apparantely I don't.
    Anyone professional on the forum can have a paid phone conversation (paypal) etc and answer some questions related to all this? Am I asking in the right place?

    Posters on this forum are not here to give professional advice - just opinions. As others have said - go and engage a professional yourself.
    If you will the end, you must will the means.
  • Debt_Free_Chick
    Debt_Free_Chick Posts: 13,276 Forumite
    10,000 Posts Combo Breaker
    jumperabv3 wrote: »
    What's the premium for?

    All the brand new fixtures, fittings, appliances, carpets etc that will be second-hand the day you complete.
    Warning ..... I'm a peri-menopausal axe-wielding maniac ;)
  • socrates
    socrates Posts: 2,889 Forumite
    jumperabv3 wrote: »
    What's so special about Wanstead?
    Why is it an expensive area?

    OK well I have read your other thread now

    You have bought this to rent it out

    The numbers do not stack up on £300k plus properties in this area

    What I would have done in your shoes was to buy a commercial property at auction for around £350k with a full insuring and repairing lease - you can look for decent tenants with a long lease

    All you would do is draw the income and you can realistically get 7-9%

    As you have moved overseas there is all sorts of tax planning you can do to minimise your income tax here

    Whoever told you this area would increase by 20% needs their head examining

    People who buy this type of property buy it to live in themselves - and renting a 3 bedroom will not achieve a lot more if anything than a 2 bedroom flat

    You also bear the brunt of the service charges etc etc
  • somethingcorporate
    somethingcorporate Posts: 9,449 Forumite
    You paid £370k for this :eek: I am sorry, but you've overpaid!
    Thinking critically since 1996....
This discussion has been closed.
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