flats above shops

Tomato

Hi
I am considering buying a flat above a shop. What are pros and cons? Has anyone here done it and what was your experience?
Thank you

Kynthia

I lived above a shop and it was fine. Apart from Saturday mornings it was open when I was at work and closed when I was home. It also didn't involve much noise or smells. The street was a nice and mostly residential too so I didn't have the downside of a main road. The only issue was that the freeholder was the business owner and was a bit of a pain. He only cared about the business premises and therefore had no interest in the cleaning and maintenance of the two flats communal areas, didn't care that the stairway badly needed decorating and that entrance lighting was bad. He also didn't keep works costs down because the business and us flats paid for it rather than anything coming from 'his' pocket. The flat was a quirky and unique conversion of an old building and had real character, rather than my friend's boring purpose build box.

mail2z

Check if your mortgage lender will lend, most lender have restrictions on lending to homes over commercial establishment. That is only if you are looking to borrow. Insurance will be tad expensive too.

seven-day-weekend

Be aware that the nice little bookshop below your flat could change into a shop selling musical instruments or motorbikes or 'adult' dvds without needing to apply for a change of use.

AndyGuil

Mortgage over commercial premises are hard to get these days, most lenders refuse.

fionajbanana

I would not live above a takeaway as the smell, noise from drunk people on weekends. Though most flats above takeaways belong to the owner/tenant of the takeaway.

kingstreet

If you can mortgage it and insure it, you should be ok.

However, see what trouble you have arranging them, then imagine your potential buyer in the future having to do the same.

Future saleability may be your biggest issue.

dodger1

seven-day-weekend wrote: »

Be aware that the nice little bookshop below your flat could change into a shop selling musical instruments or motorbikes or 'adult' dvds without needing to apply for a change of use.

Every cloud.................................

Emmylou_2

I've just moved out having lived above a chip shop (and opposite a pub) in the centre of a village for two years.

I will NEVER live above commercial premises again.

It wasn't the food smells. It wasn't so much the noise from the extractor fan, more the vibration that drills through every bone in your body.

It was everyone standing outside my living room windows having a natter at full volume...even when the shop wasn't open, it seemed that "just under Emmylou's window" was where everyone met to discuss whatever they felt like.

The only reason we stayed for two years was that it was convenient for my husband's uni course and CHEAP. I think a similar property, not above a shop, would have cost us about £75 pcm more.

cod3

We used to live above a take away shop that was next door to a pub. Never a dull moment.

GalaxyStar

When I lived in London I lived above an ice cream shop. I absolutely hated it. It ruined my time there. I was on a high street, so noise is a given, I'm used to traffic etc but not the music from the shop coming up through the floor all day every day as the speakers were in their ceiling - my floor. All I could hear was horrible jazzy type music it drove me crazy. The multiple deliveries at the early hours didn't help either crashing and bashing the cages for 45 minutes at a time, leaving their engines running. I don't mind one lorry in the night, but there were three at once one time.

I know this isn't the same every flat above a shop but I would never be above or opposite one again. Plus with the access to the actual flat, delivery men could never find the door!