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Are studio flats a good/bad investment?
izzysuk
Posts: 2 Newbie
Hello,
I'm a first time buyer and was wondering if studio flats are a bad investment for the future.
I live in greater London (Dorking) and have found a very good priced studio however some people have said they are unlikely to go up in value and can be hard to sell.
Any ideas if this is the case?
Thank you in advance for any help you can give!
I'm a first time buyer and was wondering if studio flats are a bad investment for the future.
I live in greater London (Dorking) and have found a very good priced studio however some people have said they are unlikely to go up in value and can be hard to sell.
Any ideas if this is the case?
Thank you in advance for any help you can give!
0
Comments
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Definitely bad in my experience in Bedfordshire over 20 years ago. I could not re-sell it and handed the keys back to the lender in the end ��.0
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There are many variables: location, transport, neighbours, local amenities.
Mine has shot up in value. It is in a very good position.Who having known the diamond will concern himself with glass?
Rudyard Kipling0 -
When we tried to buy one we couldn't find anybody that would give a mortgage on it.0
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Some good advice here.
The flat is going for 115k (cash only quick sell) which in this climate near london seems like a good price. It has been modernised However do you think its at this price for a reason?0 -
I can't see that a studio in Dorking would be that popular - it's too slow a train link to London for commuters (its Surrey not London).
Studio flats (outside London) can be difficult to mortgage; even if you have no problem with this, when you come to sell you could find that potential buyers have a problem. That may reduce the range of possible buyers and hence your sale price.
Does it have to be Dorking? It's an expensive market town compared to some of the surrounding areas. Given there are 3 train stations, have you considered somewhere accessible by train (assuming you work there).
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edit : you posted "cash only" - might that mean the lease is too short to mortgage? worth checking0 -
Studio flats / bedsits are the least desirable of all 'property'. No-one dreams about living in one. So when the market slumps just bit, they are the worst to own.
However if it's all you can afford in the location you want to live in, then why not go for it?Changing the world, one sarcastic comment at a time.0 -
I had a look on RM, only one on there's a retirement flat:)0
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