Buying a home in Woking

KoshkaMari

Hi everyone,
I am looking to buy somewhere in Woking as a first time buyer for future commutes into London. I wondered if anyone could advise me on which would have more rentability and chances of resale in the future: 1 bed freehold property or 2 bed flat? I'm looking for somewhere walking distance to the station (up to 20mins).

Also i could get advise on which areas to consider and which not, I'd be grateful. I'm looking around £275k mark.

Thanks!!
Mari

00ec25

are you buying a place to live yourself or an investment to let as a landlord?

they are not the same things...

there are 104 properties within your price bracket within 1 mile (20 minutes walk) of the station, each may, or may not, fit your target market

hjd

I live near Woking and my son has a flat there.
There are a lot of flats and plenty more are in development. The Council is happiest when borrowing money to spend on redeveloping the town centre. There may well be an oversupply soon.
If you want parking that will affect the decision as lots of flats (especially one bed) don't have parking. I think a one bed flat would be more saleable in the future than a one bed house, not so sure about two bed flats.
No doubt that Woking is a good base from which to commute though.

KoshkaMari

Thanks for your input hjd and 00ec25!
The place will be for myself at least for the next few years.
hjd... I was also thinking perhaps there will be an oversupply too.. already the market looks quite stagnant. I am curious as to why you say a one bed flat is more resellable than a house

MysteryMe

Everything else being equal I'd definitely buy a one bed house over a one bed flat

hjd

KoshkaMari wrote: »

hjd... I was also thinking perhaps there will be an oversupply too.. already the market looks quite stagnant. I am curious as to why you say a one bed flat is more resellable than a house

Just my opinion. The sort of person who wants a flat (such as my son) typically doesn't want the hassle of maintenance, garden etc. - especially when you are young, commuting to work and don't have a family.

AnotherJoe

Are there many one bed freehold houses for sale? I've always understood it's better to have a two bed, its more versatile, including gives you the abilty to geta lodger in and tends to suffer less from depreciation when it happens.

LilElvis

AnotherJoe wrote: »

Are there many one bed freehold houses for sale? I've always understood it's better to have a two bed, its more versatile, including gives you the abilty to geta lodger in and tends to suffer less from depreciation when it happens.

I've never seen more than a handful of one bed houses, but they are building two huge towers containing 400+ flats due for completion in a couple of years and I believe there is planning permission for even more


https://www.getsurrey.co.uk/news/surrey-news/woking-victoria-square-construction-work-13587062