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Just bought a new apartment will it gain value?
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Yes*
*or No.0 -
really?NathanGent wrote: »Hello everyone, me and my partner are in the process of buying a new build apartment as our first starter home, we would be looking to leave after 5 years to get a house and I was wondering if the apartment I'm about to buy is likely to increase in value and gain more equity for when me and my partner want to move to a bigger house in 5 years time?
tell you what OP, why don't you tell me how much my flat will appreciate by in 5 years time?
I shall leave you to guess: where it is, what I paid for it, what its asking price was, how many more flats and phases remain to be built, how much previous phases are now selling for second hand, how much any flat in this magical mystery tour of flats somewhere in (I assume) the UK will sell for and of course, the biggie: lets not forget Brexit!
perhaps you may want to try answering one or more of the above and then try asking your own question again?0 -
Hang on a second, my crystal ball needs a couple of minutes to clear . . . . . . . .0
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Don't forget there will be 5 years less on your lease so if say a 99 year lease you are screwedAn answer isn't spam just because you don't like it......0
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The OP is asking if there property will go up in value. 5 years less lease on a short lease is going to affect the value as people buying will worry about selling it on themselves. Besides if you want to be specific show me a property where there are say 82 years left to run and tell me that doesnt affect valueAn answer isn't spam just because you don't like it......0
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Plus flats aren’t as desirable as houses as you often have ground rent so there’s that going against them too. Don’t forget first few years of paying on a repayment mortgage a lot is interest. Then there’s your selling and buying fees to count up too. Are you sure you want to go for the flat?:T:T :beer: :beer::beer::beer: to the lil one
:beer::beer::beer:0 -
Assuming you want to stay in the same area when you come to upsize, if your local market has resulted in your flat increasing in value then your forward purchase will almost certainly have also increased in value, but by a bigger amount.0
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Also depends where the flat is, if it's Barnsley then who knows, if it's Brighton with a view then probably yes.0
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Such an unspecific question deserves an appropriate answer:
Maybe.0
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