Would you buy a Victorian conversion?

BlaEm

Just interested in getting opinions from people who've experienced owning a Victorian conversion.

With my budget in South East London my choices are limited to either ex-local or Victorian conversion flats. I'm buying to live so am primarily concerned with quality of living / maintenance expense over any rapid capital gain.

TIA.

princeofpounds

There are varying standards - I've lived in a couple and they have been fine, soundproofing (or lack of) seems to be the main issue. At least that's possible to test with a co-operative neighbour.

bouicca21

A lot depends on area and whether it is an ex local house or flat. Presumably you have already been warned about mortgage lending restrictions on high rise concrete? Are you also aware of the potential for substantial repair bills for LA blocks, especially ones that have been neglected in the past? You need to look hard at the estate concerned - does it still have a high proportion of council tenants? Remember that getting a council tenancy in London is very hard unless the potential tenant has multiple problems. That having been said you get a lot more space for your money, and the building standards may have been a lot higher than private developments.

Conversions bring their own problems. The quality of the conversion may be poor. If the developer tried to squeeze as many units in as possible, space may be at a premium. The leasehold arrangements will need careful checking.

BlaEm

Princeofpounds - thanks for your comment. Yes, sound proofing was one of the things which family have warned me about. I've already viewed one where the downstairs neighbour was clearly a drummer! And another which I really like and seemed very quiet when I first viewed - may be a bit forward to start knocking on their door and asking for them to make some noise during my viewing

bouicca - thanks for your reply. I'm aware of the mortgage restrictions on high rise and wouldn't want to live in one anyway, and the risk of high maintenance costs, so would definitely look for a low rise block / maisonette which was in a good state of repair already. Would you think recent major works would be a good sign of less to come, or a bad sign?

The other thing I've noticed is some conversions come with share of freehold and others do not, I'd assume the share of freehold probably have less arduous lease terms?

bouicca21

As a compromise you might want to look at private estates - I recently looked at two flats in private estates in SE London. Both were nice and quite cheap (by London standards) and both were share of freehold (in both cases the residents had clubbed together and bought the developers out).

princeofpounds

may be a bit forward to start knocking on their door and asking for them to make some noise during my viewing

I would do this actually. It's really hard to tell otherwise, and it's no bad thing to meet the potential neighbour.