New build flat Milton Keynes

Jellybean_Jo

lukas-0704 wrote: »

You reckon? What areas to avoid rather than fishermead, bletchley, broughton, lakes estate and saints estate?

I'm confused...are you suggesting Broughton is an area to avoid? If so, why? It definitely does not belong in this list!!

Edited to add I've just looked on Rightmove for two bed houses in MK under 160k and you must be seriously picky if you can't find anything!!

lukas-0704

Jellybean_Jo wrote: »

I'm confused...are you suggesting Broughton is an area to avoid? If so, why? It definitely does not belong in this list!!

Edited to add I've just looked on Rightmove for two bed houses in MK under 160k and you must be seriously picky if you can't find anything!!

sorry, i think i meant bradwell? what areas do you recommend?

Jellybean_Jo

There was a thread on here not long ago where somebody listed all the good and bad estates in MK, but I can't think what that was about. I'll have a look. As Crowdpleaser has said though; there are good and bad areas everywhere, within estates so you really don't know unless you look.

Personally off the top of my head my no go areas would be the ones you've listed (not Broughton ;-) ) plus Eaglestone, Beanhill, Tinkers Bridge etc.

I live in west MK and that would also be the first kind of area I would look if I were to move again: Medbourne, the Shenleys, Grange Farm (which does seem expensive, admittedly), parts of Emerson, Tattenhoe and Furzton etc. Edited to add: That's not because I think the rest is dodgy, just that it's the area I know best. If you're not sure of an area, go to https://www.police.uk and look at the crime stats. That's generally enough to give you an idea of what a place is like.

With a budget like the one hinted at in your OP I really do think there should be options there for you beyond a flat with a service charge you obviously already have doubts about. I know it's hard but try not to feel rushed.

lukas-0704

what about staceys bush/newport pagnell/eaglestone?

Jellybean_Jo

I would say no to Stacey Bushes and Eaglestone, and for the most part, yes to Newport Pagnell. I used to live in rented accommodation in NP and if my own budget had permitted it, I would definitely have been looking there. It can be more expensive than other areas of MK in parts.

Fire_Fox

lukas-0704 wrote: »

Yeah I heard about each flat owner being a director in a ltd company, is that what you mean? Yeah I would love to do that, just can't see it happening at the beginning... Plus, surely they will want ridiculous money. I understand that building needs insurance etc, but don't think £1400 a year from like 30 flats in the building?!?! If you don't mind me asking from your / your dads experience how difficult it is to sort out? Ie getting all residents on your side etc? I m not one for communal monthly meeting etc, but I m the one for saving money haha. Also, no lift, no cleaner as stair case belongs to flat so I will obviously clean and heat it myself... So exactly !!!!!! they doing with £1400?!?!
Is there anyway of asking to have it reduced on the basis that there is no lift, stair case etc?

It can be quite reasonable to purchase the freehold of a small new build, since it's not necessarily valuable to anyone else. Ours was a liability because two residents were asking awkward questions and refusing to pay the service charges so got 'sold' to our caretaker (suspect they paid him to take it off their hands :rotfl:). The value is in the annual ground rent, any profits you can rake in on the service charges (often a percentage) plus extending the leases when they get to 80 years or less. If there a long lease remaining and the leaseholders want to self manage there is not much profit.

The number of flats is relevant in the opposite way than you'd think, there are economies of scale for many larger blocks because you can split costs between more or fewer units. It doesn't cost five times as much to clean five times as many windows or service three times as many lifts.

You can query and dispute as per the LEASE website already linked to, read most of the articles if you are thinking of any leasehold! Charges have to be reasonable, reasonably incurred and work to a reasonable standard (Landlord-Tenant Act 1985 or 1987 forget which). So they have to be able to justify where the money is going with proposed spending and end of year accounts, they do not have to choose the cheapest contractors but they also should not be choosing the most expensive. Watch out for them choosing their own teams who are not terribly good.

I don't think it should be that much, but really you need the breakdown to be sure. Here we pay that (less than 20 flats, older and poorly maintained), we do have corridors (unheated) and a lift to service, no sinking fund tho that will be added a couple of hundred a year to build up a decent pot. Insurance is not cheap: over two hundred a year per flat, it went up a few years ago with terrorism insurance added and up massively last summer with the floods (we have zero flood risk, I guess that increase is across the board?).

Is which part difficult, the buying or the managing? Managing is work for everyone on the board but not a killer, a lot of stuff is set up so ticking over, and they work with a managing agent for some major tasks like window cleans, roof care and window maintenance (massive mill so needs cherry pickers and professionals). They have an annual leaseholders AGM, monthly board meetings in an apartment with wine and food, it's quite civilised! :beer:

The worst part I think is it being thankless, those who are too lazy to get involved want to whinge about the costs or something minor not being done. I find that irritating because I know how focussed they are on keeping costs low (they pay roughly the same as I do but have grounds, car parks, walls on all sides, loads of wooden windows, slate valley roofs, and the building is listed! :eek:), and the place is virtually immaculate.

They partially self managed before they purchased the freehold, they saved up the sinking fund to buy and already had the board of directors system in place. I think if you try to buy the freehold 'cold' without having a Tenants and Residents Association in place you would struggle to get 50% to agree and nominate someone/ a group.

You don't have to have super regular TRA meetings, they could be six monthly if you wish and largely social, but it does mean you have many of the leaseholders contact details to hand. So you can easily work together if you become concerned about the freeholder's poor management or high costs, or if suddenly the freeholder decides to sell his interest and sends out notifications. Also having a official TRA sends a message to the freeholder or managing agent you are a bit organised and knowledgeable about your rights.

Not really sure if that was what you wanted to know, sorry it a bit waffly.

mkgirl1981

I found a couple in some nice areas
I've lived in Mk my whole life so I know this place like the back of my hand
if you wanna ask me any questions feel free

http://www.rightmove.co.uk/property-for-sale/property-26145021.html

http://www.rightmove.co.uk/property-for-sale/property-37993108.html

http://www.rightmove.co.uk/property-for-sale/property-37791256.html

http://www.rightmove.co.uk/property-for-sale/property-40757843.html

http://www.rightmove.co.uk/property-for-sale/property-26225076.html

http://www.rightmove.co.uk/property-for-sale/property-37873258.html