questions for buying property

spezial

I don't know man, I have bad experiences with flats, in my previous flat, the whole ceiling went moulded and it the fault of the upper flat, but I ended up paying

what if the other owner doesn't want to pay? what if the damage is huge? you don't have such problems with houses, it's more straightforward there

and given the fact that I am looking for a 50 years old flat or around

after so many years, I find it hard that a flat won't have a problem!

booksurr

spezial wrote: »

well, can anyone serious tell me how much would the repair of a regular flat could cost? the various types of repairs? come on, even traders have fixed price lists! and nobody has ever done repair to his flat?

define what you mean by "regular flat"
how big?
what area? Ilford? Braintree? the rates will differ!
what time of year do you want the work done? Winter work on heating ? It will cost more!

tradesmen do not have fixed price lists, you are not buying a coffee. They will price a job based on what needs doing and how long they think it will take. Since your question provides no clue you get meaningless answers. Cornucopia's £5k kitchen is as hypothetical as my figures.

if there was a leak from the flat above then your insurance claim would have been settled by a counter claim against the other flat since it was their liability to fix the damage they caused to yours. there is no way you should ever have paid it yourself, but you might have had to go to court to get a settlement.

ViolaLass

spezial wrote: »

I don't know man, I have bad experiences with flats, in my previous flat, the whole ceiling went moulded and it the fault of the upper flat, but I ended up paying

what if the other owner doesn't want to pay? what if the damage is huge? you don't have such problems with houses, it's more straightforward there

and given the fact that I am looking for a 50 years old flat or around

after so many years, I find it hard that a flat won't have a problem!

Then don't buy a flat.

Cornucopia

spezial wrote: »

and given the fact that I am looking for a 50 years old flat or around

Is this because you think it will be cheaper than something newer? That's unlikely. In most areas, there is not much between Victorian conversion flats, 50s/60s big boxes and newbuild (1980s onwards) after floor area is taken into account.

In certain areas there is a premium on good quality Victorian conversions (this is true in areas like Blackheath & Greenwich in SE London). A good 2-bed conversion flat there is a similar price to a 50s/60s 3-bed terraced house.

spezial

Cornucopia wrote: »

Is this because you think it will be cheaper than something newer? That's unlikely. In most areas, there is not much between Victorian conversion flats, 50s/60s big boxes and newbuild (1980s onwards) after floor area is taken into account.

In certain areas there is a premium on good quality Victorian conversions (this is true in areas like Blackheath & Greenwich in SE London). A good 2-bed conversion flat there is a similar price to a 50s/60s 3-bed terraced house.

so if they are similar priced, should I go for a house instead of a flat?

DaftyDuck

spezial Have you considered the advantages of a houseboat yet?

.......

Cornucopia

spezial wrote: »

so if they are similar priced, should I go for a house instead of a flat?

You won't find many areas where they are similarly priced. I'm just saying there are some - typically it's where the local market has a preference for Victorian properties (most of which have been converted) above modern properties. Or where Victorian properties tend to be in streets, and modern properties are on estates.

The key to value for money (assuming that is what is concerning you) is to understand the comparisons between nearby areas (where you are looking) and between different types/sizes of properties within an area. The age of a property is rarely a determining factor on its value. Anything beyond 2-5 years old may well have maintenance issues, if it's been badly looked after.

Alternatively, plug your budget into Rightmove and select a wide area, and see what comes out.

spezial

Cornucopia wrote: »

You won't find many areas where they are similarly priced. I'm just saying there are some - typically it's where the local market has a preference for Victorian properties (most of which have been converted) above modern properties. Or where Victorian properties tend to be in streets, and modern properties are on estates.

The key to value for money (assuming that is what is concerning you) is to understand the comparisons between nearby areas (where you are looking) and between different types/sizes of properties within an area. The age of a property is rarely a determining factor on its value. Anything beyond 2-5 years old may well have maintenance issues, if it's been badly looked after.

Alternatively, plug your budget into Rightmove and select a wide area, and see what comes out.

this is what astonishes me in uk house market
they don't think age is a factor, that's why they don't mention it in their ads

I am not sure if you are aware, but in many other countries' real estate market, this is a significant factor and it's always mentioned in ads and reflects the price

Cornucopia

No, I wasn't aware of that.

The general pattern of development in the UK over the past 150 years is pretty straightforward, and most people would be able to tell immediately which era a property dated from.

Critically, each era has its good and bad points, and different people have their favoured property type & age.

For example, 50/60s properties are normally very boxy in design, but they also often have significantly larger room sizes than properties built 20 years later.

e.g.

http://www.rightmove.co.uk/property-for-sale/property-51978455.html

spezial

what age is this?