Buying Liverpool Flat - pull out now?!?

tucbiscuit

at the end of the day it is your descision, here are some alternatives though;

this is a 3 bed terrace in Wavertree, it is in a decent clump of terrace streets and is on the main transport link to town (5-10 mins busride)

http://www.rightmove.co.uk/search.rsp?lo_u=1347&lo_n=L15&se_c=1&poi_e=0&poi_n=0&nh_st=1&stc_s=false&p_t=1&tr_t=buy&pa_n=3&re_s=price&eventsubmit_dosearch=1&initial_search_time=1188632516414

another in the same streets

http://www.rightmove.co.uk/viewdetails-9009696.rsp?pa_n=4&tr_t=buy

this one is in some decent streets near sefton park, in an area called aigburth (I actually loooked round this one myself and it is decent and has been reduced from about 130,000)

http://www.rightmove.co.uk/viewdetails-15381349.rsp?pa_n=1&tr_t=buy


another option would be a flat in and around sefton park/lark lane, pour example;

http://www.rightmove.co.uk/viewdetails-8294167.rsp?pa_n=3&tr_t=buy



as I said it is your choice

mintymoneysaver

Yes, you may well find you are here a lot longer! As a Liverpudlian born and bred I always think Old Swan is sadly put in the same light as Kensington etc when the terraced roads there are a great place to live, very friendly, eay access etc.

floyd

Definately agree with tucbiscuit on those Wavertree streets, lived in that area myself and it is pretty quiet with the best served bus service out of most areas (79) and you can be at the Royal in less than 5 minutes from there.

Mintymoneysaver has a good point about Old Swan too, gets slated alot but is actually a very nice place to live.

Flats in Sefton Park are always quite desirable and it is somewhere where students seem to like living too (that area has been in the Guardian and Independent recently as somewhere that is a great place to live)

NowThenAgain

For £128,000 you can buy my flat. Not quite as close to the University as where you are looking at in Kenny but 10mins to town, 10mins to the new arena, and 5mins to many good pubs in the Georgian district.

It's 2 bed with parking btw.. That's an edit. I guess those are important details..

My flat is not on the market but message me if you want a look. I am currently making a very halfhearted effort to sell it by the home-made sign in window method! I quite like living here really but the money would be useful..

oxymore

The thing is I don't know where i'll be after I graduate but I can continue renting the place out until the price is right to sell so there is no rush to re-sell I guess. Thinking about the loss of interest though, even by renting out, it would be quite hard to make the loss back unless the property value goes up in the future. Plus the problems that go with tenants and renting..

Thanks for those other options too. I guess the whole point of the city centre flat to me is that I wouldn't have to travel, like all the other students living on Smithdown. And if other flats in Sefton Park, Aigburth are also £128,000 wouldn't it be more worth to pay the same price for city centre? I presumed city centre was supposed to be more expensive?

At the moment I'm thinking this probably really isn't the right time to buy. Maybe after the Capital Of Culture thing, we can see how the prices are then. Thanks a lot for all your advice. If anyone has any further comments or options, i'll be very grateful

Zammo

I was in a similar position last week. Just had an offer on a flat accepted. Then I had a big think about the current economic conditions and the stagnation I am witnessing in the market and decided to sit it out for another 6 months to see what happens.

[Deleted User]

Iw ouldn't pay 128k for a 2 bed flat near Kenny. No matter what they spend on the area the stigma attached will be there for a few years yet and the actual timescale of regeneration isn't just about doing the buildings up. It's a change of thought that will take more than the 2 years you are looking at.

peawack

I don't think it's a good time to buy, but if you have to, buy the worst house/flat in the best area, rather than the best property in the worst area.
Lots of decent property for sale in Waterloo and Crosby, handy for Merseyrail.

macaque_2

oxymore wrote: »

I can accept I might not sell the flat for much higher that I bought it in 2 or 3 years time but if I am able to rent, atleast I will not lose (much) of the £8,000 interest?

The dangerous thing about your plan is that it has more to do with speculation than home hunting. Perhaps you might not lose much in interest payments but you could take a massive cold shower on the capital value. People who invest in shares are usually advised to lock in for five or ten years. Here you are planning to speculate in property (which is a less liquid investment) for only two years. You are also doing it a time of historically high house prices and serious turmoil on the financial markets. Are you barking mad?

macaque_2

oxymore

As a matter of interest have you gone ahead with the purchase?