First time buyer: one bedroom in London

redefinr

Yeah I guess I have to let go. EA keeps emailing me other properties which are WAY OVER the budget I discussed - I don't know what they thinking!

I may book a viewing for this one:

https://www.rightmove.co.uk/property-for-sale/property-72937240.html

need_an_answer

redefinr wrote: »

Yeah I guess I have to let go. EA keeps emailing me other properties which are WAY OVER the budget I discussed - I don't know what they thinking!

I may book a viewing for this one:

https://www.rightmove.co.uk/property-for-sale/property-72937240.html

That's a very small flat...the positioning of the fridge freezer on top of what looks to be the only bit of usable worksurface in the kitchen screams that its either very small or at best very poorly planned out.

I have to say I'm not a fan of this one but I guess its all about the location.

redefinr

it's a 312sq.ft - definitely not big but acceptable for a person.

I know what you mean with space...it doesn't even look like in the best conditions throughout but I could try to shoot a lower price and maybe do some renovations. The building seems ok from outside...and location wise is good.

need_an_answer

define "renovations" ...my guess would be that the lease or even listed status of it may prevent that much being done.

redefinr

I would definitely strip that carpet away and maybe put a new kitchen in there...

need_an_answer

redefinr wrote: »

I would definitely strip that carpet away and maybe put a new kitchen in there...

something to be very mindful of when planning how you can change a property when you look at it om rightmove or in person....

You might think that exposed stripped flooring would look lovely for example but the lease may prevent you doing that so as not to interfere with downstairs soundproofing...


You'll probably find with the kitchen that you cant create a bigger space than there already is by tweeking a wall for example....that again is probably covered in the lease and would be termed structural changes.

Your best option might be just to plan a new kitchen around the existing space but that is going to be reduced insize to some extent simply because as it stand as there isn't even space for a small fridge freezer.

Like I said before that flat is all about location.

lisyloo

Crashy_Time wrote: »

To pick just one of many flaws in your reasoning - how do you know the value of an asset 25 maybe even 30 years in the future? Most people who pay on time and behave themselves can have rentals for decades if they wish, the "whim of a landlord" stuff is just mortgage sales talk I`m afraid, and it is all starting to look less convincing as we move closer to No Deal.

You don’t know the precise value, but it s valuable because you can live in it rent free for the rest of your life. The rent you don’t now have to pay is valuable as well as the actual asset price.

That’s a mathematical fact.

Do you think the OP (or anyone else is listening to your advice)? The evidence is that they aren’t.

Skiddaw1

redefinr wrote: »

Yeah I guess I have to let go. EA keeps emailing me other properties which are WAY OVER the budget I discussed - I don't know what they thinking!

I may book a viewing for this one:

https://www.rightmove.co.uk/property-for-sale/property-72937240.html

I like that one. Do feed back if you view.

Crashy_Time

lisyloo wrote: »

You don’t know the precise value, but it s valuable because you can live in it rent free for the rest of your life. The rent you don’t now have to pay is valuable as well as the actual asset price.

That’s a mathematical fact.

Do you think the OP (or anyone else is listening to your advice)?
The evidence is that they aren’t.

Can you post some evidence of this? My evidence up-thread seems to say that less and less people are interested in over-priced property.

jimbog

It’s a great location but does need work done to it. I would be wary of sound insulation from neighbouring flats