flat in city center manchester - service charge seems steep?

luvchocolate

Some good advice on here. I would also rent for 6 months in the city and see if it suits you, this will give you time to get a feel of city centre living.
If you decide its not for you then you can look at some other areas.

TheGardener

rtt2017 wrote: »

never lived in a flat, is the water bill usually covered in service charge?

so im saving on water and broadband costs then

My mate says in does include the water rates but the cable only provides the TV - he still has to pay his own subscription for the broadband. I would check though - there seems to be a lot of variation depending on the flats in question. As its a converted mill he says its deathly quiet - the walls are a bout a foot thick and the glazing is substantial. He never hears his neighbours but says the politics around parking spaces is fierce - woa betide anyone who parks in the 'wrong' space or lets visitors use a neighbours space - even if he knows they are away on holiday

JReacher1

To warn you if you look at photo 8 which is the view photo they are currently replacing the car park you can see with a block of flats. No idea how high they will be but it will not improve the view.

Personally I would look at some of the new builds on the other side of ancoats street as there are a few nice ones over there now and it's becoming a nice community.

Something like this for example.

Paragon Mill, Cotton Street, Manchester, Greater Manchester, M4
http://www.rightmove.co.uk/property-for-sale/property-65826371.html

dimbo61

If you have that sort of cash in the bank ( no mortgage )
Then look a for 3/4 bed house with room to extend !
Permitted development allows you to add a rear extension of 6 meters ( semi ) and 8 meters if detached.
You can also extend at the side.
Adding value and building a beautiful home to suit your needs.
Freehold not leasehold

rtt2017

Tiners wrote: »

It was only a few years ago they couldn't give away the masses of new build flats in Manchester City centre and hundreds were just sat empty or half finished, now people are queuing up to pay £350k+ for them!!

You have to ask yourself where this perceived ''value'' of these properties has suddenly materialised from given that wages and incomes have barely increased in the same time period.

I must admit, I do not think that flat is worth anywhere near 360k... 180k max, but was an example to kick of a conversation

is there a way to check how much these flats sold for in price? how do we know the seller isnt asking 360k for flat he bought for 150k 2 years ago? I'm new to house buying so no idea how this works

rtt2017

luvchocolate wrote: »

Some good advice on here. I would also rent for 6 months in the city and see if it suits you, this will give you time to get a feel of city centre living.
If you decide its not for you then you can look at some other areas.

yeah good idea, I just hate the thought of renting, 500-800PCM down the drain really, but then again its better than paying 360k for a flat i hate

rtt2017

dimbo61 wrote: »

If you have that sort of cash in the bank ( no mortgage )
Then look a for 3/4 bed house with room to extend !
Permitted development allows you to add a rear extension of 6 meters ( semi ) and 8 meters if detached.
You can also extend at the side.
Adding value and building a beautiful home to suit your needs.
Freehold not leasehold

that sounds like property redevelopment to me haha not sure thats suited to my needs, isnt it a big risk too? It's just me too, no wife or kids.. 3/4 bed would be overkill

JReacher1

rtt2017 wrote: »

I must admit, I do not think that flat is worth anywhere near 360k... 180k max, but was an example to kick of a conversation

is there a way to check how much these flats sold for in price? how do we know the seller isnt asking 360k for flat he bought for 150k 2 years ago? I'm new to house buying so no idea how this works

Previous price is irrelevant. It could have been £150k two years ago. Now it's worth £360k. You may be able to sell it on in two years for £500k.

This is the gamble with house prices.

Loanranger

Here are the sold prices:
http://www.rightmove.co.uk/house-prices/M4-1LJ.html/svr/1705;jsessionid=781CFBD3E383159B8D645F02D53C0F2A?backListLink=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DPOSTCODE%255E1530007%26minPrice%3D325000%26maxPrice%3D425000%26minBedrooms%3D2%26radius%3D0.5

rtt2017

JReacher1 wrote: »

To warn you if you look at photo 8 which is the view photo they are currently replacing the car park you can see with a block of flats. No idea how high they will be but it will not improve the view.

Personally I would look at some of the new builds on the other side of ancoats street as there are a few nice ones over there now and it's becoming a nice community.

Something like this for example.

Paragon Mill, Cotton Street, Manchester, Greater Manchester, M4
http://www.rightmove.co.uk/property-for-sale/property-65826371.html

yeah i think there is a northern quarter premium price attached to this