Help with very spontaneous decision to buy shared

fozziebeartoo

Many years ago I lived in 2 different flats. Both next to the lift.

The only lift noise I heard was when people got stuck in the lift and shouted for help......hopefully not a regular occurrence!

However the water "pump" to get water to upper floors thudded every few minutes.

Drove me completely mad for a few months, and then suddenly I was able to tune out and it didn't annoy me at all.

Hopefully the pumping noise would not be an issue in a new building, things must have progressed since then.

Out,_Vile_Jelly

Are you quite sure living in a tiny, potentially noisy new-build one bed flat is going to be better than renting a box room? You can serve notice and leave the rented room. You may be stuck with the flat a long time; new-build properties are much less desirable when no longer new, and selling under these schemes is very difficult.

Your salary isn't realistically high enough to consider buying on your own in London. Are you likely to earn more as your career progresses?

Hansaro

It might be the case. On their website they show they have availability for the flats they say thy were not available, though I have reserved this flat yesterday, on the website my plot is still showing as available.


I want to change the plot but it looks like they are reluctant... They said to go first to the assesment and see if I can afford the more expensive one then call them if I changed my mind to see what is left available, but like this, others could take that flat..
On that wing there are 7 floors.

Hansaro

Out,_Vile_Jelly wrote: »

Are you quite sure living in a tiny, potentially noisy new-build one bed flat is going to be better than renting a box room? You can serve notice and leave the rented room. You may be stuck with the flat a long time; new-build properties are much less desirable when no longer new, and selling under these schemes is very difficult.

Your salary isn't realistically high enough to consider buying on your own in London. Are you likely to earn more as your career progresses?

Exactly why I am going for Shared Ownership really, I can not buy on my own and not even with HTB 40% unless I save for another 2 years and put together at 55k deposit. But nothing can be worse than my current situation, box room with no shoe space at entrance, no living room and somewhat noisy neighbour behind my bedroom wall.


I pictured moving outside of London to other city like Leeds etc, for a ftresh start but the thought of it is like quiting the fight and pottentially limiting my future.
My salary is low and I am not seeking a career in the curent job but rather I will progress to transform my part time self employed activity to full time on an entreprenorial quest.
Also, 1 bedroom flat that has over 50 sq. meters is not tiny compared to a box room of 8sq m.
It is a huge upgrade and one I think I deserve.
So I raised this savings, almost 30k now and what do I do with it? Seems logical for me to go down this route, renting a studio will cost me 1000, a double bed in a shared room 600, I'd better pay that in shared ownership and can really do overpayments as I am a saver and seller so thinking of paying my morgage in 15 - 18 years. I do welcome advice, as I am on my own here and no on I know is considering buying or has enough of a deposit.

Hansaro

Blondetotty wrote: »

You asked for opinions and gave you mine, I'm sorry it wasn't what you wanted to here and depleted you. I really do wish you well, and luck and hope it works out for you, I know some people are happy with their SO, I'm just one of many that aren't.




If you can afford it, I would say go with the bigger space away from the lift if that's purely your worry. You want to get one you're 100% happy with and if that's niggling you now...

Thanks , I appreciate it. There is no bigger space, just a different layour 1 bed further away from the lift with a better view and 2 common walls with neighbours. It is more expensive.


Sorry, I should have multiple quoted here..

troffasky

Hansaro wrote: »

I pictured moving outside of London to other city like Leeds etc, for a ftresh start but the thought of it is like quiting the fight and pottentially limiting my future.
...
So I raised this savings, almost 30k now and what do I do with it?

Just in case you were wondering, a £30k deposit is a rather handy amount of money outside of London, especially up here in the grim, frozen wastes of the North.

csgohan4

you get more for your money in Winterfell than in King's Landing

Hansaro

Went for a better one, better view, the floor plan I actually liked and not near the lifts. Costs me more and a pain I did not get in there earlier to bag the cheaper deals on the lower floor but it is how it is and not something to cry about every month. Will do myself proud and go with it. Thanks all for the answers and suggestions. It's still not over... wish me luck

Doozergirl

Well done, good luck!

I only just started reading, but I absolutely agree that your own place and sanity will be better than a box room. I can’t even imagine why someone would question if it wouldn’t!

Glad you managed to find something more suitable. Remember that one was cheaper for a reason

seven-day-weekend

Wishing you happiness in your new flat. I think you have done the right thing xx