Does living near council flats devalue your property?

Kikikickin

Hi,

We're looking to put an offer in on a house which is on a street with several blocks of council flats. In fact, only a handful of houses on the street are privately owned.

We have no problem living near council flats but we were thinking ahead to when we might eventually move on and we know not everyone would be so relaxed. So we wondered if anybody knew if living near council flats devalues your property?

Hope that makes sense.
Any help would be much appreciated

lighting_up_the_chalice

Kikikickin wrote: »

Hi,

We're looking to put an offer in on a house which is on a street with several blocks of council flats. In fact, only a handful of houses on the street are privately owned.

We have no problem living near council flats but we were thinking ahead to when we might eventually move on and we know not everyone would be so relaxed. So we wondered if anybody knew if living near council flats devalues your property?

Hope that makes sense.
Any help would be much appreciated

Is the property significantly cheaper than similar properties further away from the flats? If it is, whatever discount you enjoy now will be passed on when you sell.

House.buyer.sarah

I just recently sold my x council house didn't really have any problem selling ours was on a council street too although a couple where bought ..

BillJones

I'd say that it does, yes. My first flat was in an estate that was mixed, private and council, and seeing what the council residents did to their environment, I'll never, ever buy near them again.

The loss of buyers like me necessarily reduces the prices relative to a place that is all private.

Lily-Rose_3

BillJones wrote: »

I'd say that it does, yes. My first flat was in an estate that was mixed, private and council, and seeing what the council residents did to their environment, I'll never, ever buy near them again.

The loss of buyers like me necessarily reduces the prices relative to a place that is all private.

What did they do?

bris

No, the council flats have always been near it so it's already factored into the price.

For it to be devalued the council flats would have to be built after you bought it, this would have a negative affect.

I_have_spoken

So long as you buy at the right price it's OK, but it just won't be so easy to sell. Have you lived near social housing before so are aware of the potential issues?

Edi81

There's good council estates and bad ones. You usually know what the bad ones are like just by looking at them.

It will factor into the price but not necessarily that much. Look at parts of London - million pound houses right next to council flats.

Mickygg

It did devalue my last home. I bought a new build, without checking that the shared housing/key workers I was told by the sales agent was actually over 60 houses all being council.
I won't go into the problems I had living there because of the council people, but it hit my sale price to the tune of 10% of the purchase price. This was not factored in when I bought the house.
Partly my fault, you live and learn.

HTH

ognum

Interesting question as the majority of new build estates now by law have a percentage of social housing, I guess the difference is you can't spot those home by the design as they are the same as everyone else's.

So in some cases yes, the value will be less in others no!!!,

Bantex_2

ognum wrote: »

Interesting question as the majority of new build estates now by law have a percentage of social housing, I guess the difference is you can't spot those home by the design as they are the same as everyone else's.

So in some cases yes, the value will be less in others no!!!,

Just look for the Sky dishes an Engerland flags.