First time buyer: one bedroom in London

redefinr

I have been in and out checking for properties without finding anything really appealing. The price was meant to drop even more (as someone mentioned) but instead, properties are still being sold....and at quite normal price. The studio I really liked actually sold for £320k.

Many studio have been listed at The Grampians - I'm wondering if they are worth being considered:

https://www.zoopla.co.uk/for-sale/details/52506663?search_identifier=f35a990d9d290b3a42378fb61aebfd08

The price is good for me, location is great...in need of a quick modernization for sure? What do you guys think of the structure?

need_an_answer

Its an older building with many units in it.
You will need tp pay attention to the management charges on this one and also go through the previous accounts with regard to service charge increases and what sinking funds there are for major works both completed and in the 2 years the anticipated ones.

There is a lift in the building,these can be costly to maintain.

For me it wouldn't necessirly be just the modernisation of the property you wish to buy but it would run deeper into how much the communal maintaninance is.

Crashy_Time

Thought you meant Aberdeen there for a minute, their price crash is well underway, Shepherds Bush not so much...yet.

Skiddaw1

redefinr wrote: »

I have been in and out checking for properties without finding anything really appealing. The price was meant to drop even more (as someone mentioned) but instead, properties are still being sold....and at quite normal price. The studio I really liked actually sold for £320k.

Many studio have been listed at The Grampians - I'm wondering if they are worth being considered:

https://www.zoopla.co.uk/for-sale/details/52506663?search_identifier=f35a990d9d290b3a42378fb61aebfd08

The price is good for me, location is great...in need of a quick modernization for sure? What do you guys think of the structure?

Actually, I really like that building and the specific flat. It's a bit different isn't it? As you say, needs some work but it could look lovely could that. Has proper character.

numbercruncher8

Someone I know put in an offer for a 2-bed there, I think it might even have been the one at £320k. But they pulled out.

The service charges for that building are huge, I think he said it was about £5k a year.

That is why all the flats in there are cheap relative to the area.

numbercruncher8

If you have to live near the Bush, why not consider this:
rightmove.co.uk/property-for-sale/property-75834346.html

I don't know the service charge for this, but it is surely going to be less than the one above.

Ain't the nicest building though. If you are willing to expand your search a bit further, like about a mile I reckon you could get a good sized 1-bed flat in a low-rise development, but then won't be so close to the transport.

redefinr

I'm staying away from Shepherd Brush Green towers. They have many properties for sale in there, at a very good price too.
I don't live too far from that....I'm walking by often in the area...and I can clearly see the people who enter/leave the building. Not for me.

redefinr

Gosh, those prices are not going down at all despite brexit, pandemic and so on!
I'm still on the lookout, EA are now not posting much on RightMove but they seem to be using Zoopla more.
I'm just touching base for this property which is quite promising: https://www.zoopla.co.uk/for-sale/details/54374803
New build, good standard. Balcony! It could be quite small (25sqm) but the location is pretty amazing!
Ground rent: £400 PA
Service charge: Approx £1330 pa
Service charge seems a bit high, uh? 
It's still way pricey, I will see if the seller is up for some negotiations...

[Deleted User]

redefinr said:

Gosh, those prices are not going down at all despite brexit, pandemic and so on!
I'm still on the lookout, EA are now not posting much on RightMove but they seem to be using Zoopla more.
I'm just touching base for this property which is quite promising: https://www.zoopla.co.uk/for-sale/details/54374803
New build, good standard. Balcony! It could be quite small (25sqm) but the location is pretty amazing!
Ground rent: £400 PA
Service charge: Approx £1330 pa
Service charge seems a bit high, uh? 
It's still way pricey, I will see if the seller is up for some negotiations...

25sq metres in Hammersmith!!!  Why don't you buy a castle in Scotland instead?

[Deleted User]

Here's one for £445k.   I'd say 50sq metres would be the minimum size for a 1-bed if you don't want to go stir-crazy living there:

https://www.zoopla.co.uk/for-sale/details/51526483

Here's a nice one for £475k:

https://www.zoopla.co.uk/for-sale/details/54936013?