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Please help me decide.

24

Comments

  • typeractive
    typeractive Posts: 935 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Ticklemouse wrote: »
    My favourite house's main drawback is that although lovely and in a nice area, hasn't sold and has been on the market with a couple if not 3 agents. I want to know why it hasn't sold, before i consider buying it - I don't want to be left with a house that takes forever to sell if/when I move on.

    I'm the same, my aunt's house initially sold after being on the market for one day. though it fell through as the other person couldn't get the funds - this is how I found out about it. The new builds have been on the net for a few weeks and I am the only person interested in the best 1 bedroom flat. There is only a total of 5 one bed flats in teh development. There are 2 that in my opinion would never sell as they are going to be really expensive (100k and wait for it....£187k! - that flat will be on the top floor with great views and a balcony). Still it's VERY expensive for my area. It actually has less floor space than the one I'm looking at!
    "The future needs a big kiss"
  • BobProperty
    BobProperty Posts: 3,245 Forumite
    1,000 Posts Combo Breaker
    Buy the older flat and renovate it.
    I vote the older one. One thing to consider is what the shop might become in the future. There's been more than one post on here where the flat has been over a shop which has then got A3(?) PP for a fast food takeaway.
    A house isn't a home without a cat.
    Those are my principles. If you don't like them, I have others.
    I have writer's block - I can't begin to tell you about it.
    You told me again you preferred handsome men but for me you would make an exception.
    It's a recession when your neighbour loses his job; it's a depression when you lose yours.
  • typeractive
    typeractive Posts: 935 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Thanks Bob :)

    To be honest I can't really see that happening....but then it is of course possible! Something I didn't think about. So thanks for giving another perspective! :D

    Cheers,
    "The future needs a big kiss"
  • freebird65
    freebird65 Posts: 1,751 Forumite
    Part of the Furniture Combo Breaker
    Buy the older flat and renovate it.
    Beaten to it by previous poster - I would also say definitely the older one. You don't know whether the shop will remain a beauty salon - what happens if it becomes an Indian takeaway - might be convenient, but not much fun in summer when you want to open the windows and it would be more likely to affect re-sale. The older one has much more potential.
  • hardpressed
    hardpressed Posts: 2,099 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Buy the older flat and renovate it.
    Would you own the loft space in the older one? Could it be converted in the future to make it into a two bed flat? More potential there.
  • Ems*Honie
    Ems*Honie Posts: 1,448 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Buy the older flat and renovate it.
    I vote the older one, you have a chance to high spec it and increase the value. The new one you have the chance to 'mess up' a new build and devalue it ;)
  • typeractive
    typeractive Posts: 935 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Would you own the loft space in the older one? Could it be converted in the future to make it into a two bed flat? More potential there.

    I believe I would own it yes. Probably need the solictor to run through the lease to confirm for me. My friend who's a builder doesn't think there would be enough space to make it into a second bed though.
    I vote the older one, you have a chance to high spec it and increase the value. The new one you have the chance to 'mess up' a new build and devalue it

    Does anyoen really think you can make a 1 bed flat worth that much more by renovating it? I really don't believe I will make money by doign it up. At the end of the day it's still just a 1 bed flat. Perhaps if it was a 2 bed flat or certainly a house it would fetch money, but a flat? :S :o

    Thanks guys - keep em comin! :D
    "The future needs a big kiss"
  • deb_buffy
    deb_buffy Posts: 128 Forumite
    Buy the older flat and renovate it.
    I would go for the older one.
    We currently rent a New build 2 bed flat which our landlady bought for £123k and they are now being sold on again by some people 8 months on for less then £105k. so i would get the older one and add your own touch. yes it is nice living in a new build but that quickly wears off.
    The older one sounds like it has more feeling and life to it. It has car parking spaces and a loft which is a great place for storage and even though you say there wouldnt be enough room to make a bedroom you could turn it into another room for entertainment or something like that.
  • seven-day-weekend
    seven-day-weekend Posts: 36,755 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Buy the older flat and renovate it.
    I voted for the old flat as I think it will keep/increase its value more but mainly because you do not know what business is going to be carried out in the downstairs shop in the future. It could become for example, a massage parlour or a tattooists without any formal Change of Use being needed and with a COU it could become anything!
    (AKA HRH_MUngo)
    Member #10 of £2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
  • less_is_more_2
    less_is_more_2 Posts: 12 Forumite
    Buy the older flat and renovate it.
    You can't build old, when they are gone they are gone, new builds are two a penny.

    IMHO some of the new builds you see today will never last the next century, pack them in pile them high.
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