Four bed flat or three bed terrace?

the_midnight_Wolfboy

Hi all,

Nothing exciting, just like the title says I just wanted a view veteran's opinons on which would be better:

Four bed flat (Hanwell)
£420k
Near station
Leasehold

Three bed terrace (West Drayton
£375k
Near station
freehold

Both need modernisation.

I'm finding it difficult to pick between being closer to London and being in a flat or being further out and having a whole house. Any input greatly appreciated as I am a first time buyer

Thanks

the_midnight_Wolfboy

Yes the service charge is £1.2k a year, the flat is actually slightly bigger in terms of square feet but lacks a garden. My main issue with the flat is the fact its a leasehold but I'm not sure if I'm making too much of it. My plan is to buy in either of these locations for when the Lizzy tube line comes in a couple of years.

Jenniefour

Both going to be on Crossrail. If near Hanwell station it's a part of Hanwell that I personally like a lot, nice Victorian houses - but then it's not me choosing!! I'd say that particular part of Hanwell is a better location than West Drayton. And much closer to central London.

Maybe go and have a good look around both areas, check out shops, cafe's parks and so on, get a feel for the neighbourhood.

moneyistooshorttomention

We can all only speak personally to some extent. Me - I'd go straight for the 3 bedroom terrace in your position.

Reasons:
- no service charges
- no neighbours above or below
- a garden
- cheaper
- no risk of someone else telling me to stump up money I didn't have for maintenance costs (they'd be totally under my control and would probably be cheaper anyway)
- freehold

You are okay for getting round anyway - well certainly no problem in only a couple of years time.

I expect we'd both be surprised just how many people get stuck in their starter home and can't afford to move on (ie because their finances are worse than the life plan they've made for them). My starter home was going to be sold on by me 3-5 years later. My finances went differently to my plan for them and I got stuck. I finally sold it over 20 years later!

That could happen to you. Which also brings in you may or may not be planning/hoping on getting married and having children?? A house would work for you a sight better than a flat would if you do so.

glasgowdan

Are they the only two houses for sale that you'd consider? I'd wait for a semi in a better place.

moneyistooshorttomention

This is the London area.

I wouldnt be hanging around in OP's position in that area. I'd get straight in there and make a decision - before house prices went up even more.

Mindthegap4567

Which station is convienient for you now? And the other question- what will be more convienient when the Lizzy line comes in?
Personally houses are a lot better as you are living on two floors and can extend out. You never know if service charge will increase - is there an agreement long term that service charge will remain at £1.2k?
-are you planning on living in either a 4 bed or a 3 bed house by your self? Do you need to look at rental - which area gets more?

the_midnight_Wolfboy

Good morning thanks for the replies..it will just be me and my partner living there and we are thinking of renting out one of the rooms (pending discussions with my partner on sharing a bathroom).

I agree with the disadvantages mentioned regarding leasehold especially the service charge issue. But I thought it was a lot of space for the price for Hanwell

If I wanted to buy a house within our budget in Hanwell we can get a 2 bed ex council house for 420k but not sure how easy that would be to sell on.

I also agree it is easier to get stuck in homes for longer than you think!

agrinnall

How long is the lease? If you'll need to renew it then you have to factor that cost into the equation.

chiram2015

FWIW I have lived in both over the last few years and we now have a flat with a small roof terrace which is fab.

It is the lack of outside space in most flats that is a killer for me.

The garden that comes with the house will be more attractive to families than the flat if your thinking of moving on in the next few years

Good luck

Out,_Vile_Jelly

4 bed flats with no garden have a more limited resale market than 3 bed houses.