First time buyer Location over House

Hailster123

Hello, I was looking for some advise, would you choose a flat in a lovely area or a house in an okay area, both around 2beds

Thank you

Davesnave

I wouldn't choose either if I couldn't make up my mind between the two.

It's questionable whether asking random people on the internet to sum up pro's and cons of hypothetical properties is of much value either.

Everything ought to be decided with reference to your lifestyle and personal preferences, present and future, so it's a big ask.

When I bought my first property, I knew pretty well where it would be, because I tramped the streets at different times, looked, listened and tried to envisage living in the different places I saw. I thought about how the places might alter in the future and how my life could change too.

No one else can do that sort of thing for you.

TBagpuss

This is one of those 'it depends' questions.

- Can you envisage yourself living in each area?

- What makes the lovely area better? Is the other area likely to change?

- How do the properties compare, and what things are most important to you personally in buying a property?

- How long do you expect to live there? Are the things which make the first area better (in your eyes) things that are likely to continue to be important to you in the long term?

- location aside, what are the pros and cons for each property ? (e.g. potential cot of repairs / management co for the flat / noise / outside space (or the lack of it), size of the house /flat, availability of parking, restirctions on what changes you can make etc. etc)

I personally would almost certainly pick a house over a flat - but my preferences and priorities may be diferent to yours.

G_M

Surely you've heard the expression "Location, location, location"?

:j

hazyjo

Location, Location, Location - but only when comparing like for like I wouldn't buy a flat now, so that would rule the other one out entirely. With flats, you have to factor in service charge, ground rent, lease extensions, and when you sell you will prob need a pack from the management co which may cost in the region of £350. Nah, not for me any more.


Personally, I'd prob try to save a bit more to get a house in the nicer area.


Jx

hazyjo

G_M wrote: »

Surely you've heard the expression "Location, location, location"?

:j

hazyjo wrote: »

Location, Location, Location -

Snap lol. Sort of...


Jx

Cakeguts

I would choose a 3 bed in either area. In some places 2 bed anythings are difficult to sell. Have a look at the number of 3 beds on the market in the areas you have looked at and compare it to the number of 2 beds.