First time buyer: one bedroom in London

Crashy_Time

lisyloo said:

Crashy_Time said:

Rip off London, what a joke, maybe people will make a run for the countryside and cut their own grass after all!

I thought you were dismissing the idea that people were looking for gardens now and not flats?
i think there will be some long term changes. Relevant link
https://www.bbc.co.uk/news/business-53303364

It is not relevant to anything I have said TBH, most people in the UK don`t work for Twitter or a Japanese tech firm? 
Two questions for you - 
1) Can a fireman/nurse/care-worker/police/train driver/builder etc. etc. work from home?
2) If many of these people were struggling to buy a flat in the "good" times, how will they buy a home with a garden in the "bad" times?
Two observations on the article 1) Both firms seem to be offering the OPTION to work from home, not making it mandatory, and in Japan for example where there are already massive problems with social isolation and tech-addiction among young people for example, how many people are going to choose to stay in their apartment or new house with garden glued to tech all day (well many are, but they are already doing it!)
2) Putting aside the question of how people are suddenly able to trade up to a garden in a recession (a price crash would be one way maybe?) - Who is going to buy all the flats and houses without gardens?

Crashy_Time

redefinr said:

Service charge £2400pa. No ground rent, but still WAY too expensive.

Yes, pricey.

redefinr

I went to see this property yesterday which was quite interesting:

https://www.rightmove.co.uk/property-for-sale/property-71487639.html

It's part of the new builds in Deptford Bridge - although this one was a bit older than the others I've seen. The building it's okay from the outside, there is a m.o.t. on the other side but no biggie. There is no concierge, gym or anything fancy (Service Charge 1600 and includes ground rent too). I liked the interiors, I think the decor could be better but hey that's what they have now...
I'm tempted to make an offer of £305K but I have only one concern: electric heating. I read it can be very expensive?
Lots of those new builds have electric heating...the EA told me it was gas but I can firmly say it's electric, I don't think she knew the property that well.
Vendor needs to sell the property as she's buying a new one....

[Deleted User]

redefinr said:

I went to see this property yesterday which was quite interesting:

https://www.rightmove.co.uk/property-for-sale/property-71487639.html

It's part of the new builds in Deptford Bridge - although this one was a bit older than the others I've seen. The building it's okay from the outside, there is a m.o.t. on the other side but no biggie. There is no concierge, gym or anything fancy (Service Charge 1600 and includes ground rent too). I liked the interiors, I think the decor could be better but hey that's what they have now...
I'm tempted to make an offer of £305K but I have only one concern: electric heating. I read it can be very expensive?
Lots of those new builds have electric heating...the EA told me it was gas but I can firmly say it's electric, I don't think she knew the property that well.
Vendor needs to sell the property as she's buying a new one....

It looks lovely. Congratulations on finding it. No idea about what electric heating, but I'd put in £295-300k if I was you. Then they'll probably come back with £300-305k and you agree on the condition that it is taken off the market.

Aaghh321

That looks really nice and similar to one I'm renting in West London. The insulation is so good I only had the heating on a few times over the winter but then I don't like my hone too warm.
The thing you do have to watch is arrangements for hot water. My flat has a tank that has to be heated electrically. It's designed to run overnight to take advantage of off peak energy but they only installed single tariff electricity meters! This system is 17 years old but I have neighbours who have installed a more efficient system and cut their bills. 
Maybe ask the EA to speak to the vendor and get some more info on how it works and what they spend?

bouicca21

Go and listen to the traffic noise - that’s a very busy road.  The heating not so much of a worry as in my experience most newIsh builds of That type are electric.  Service charge still on the high side - but difficult to be sure without knowing what the ground rent component is.   Check the lease.

Crashy_Time

redefinr said:

I went to see this property yesterday which was quite interesting:

https://www.rightmove.co.uk/property-for-sale/property-71487639.html

It's part of the new builds in Deptford Bridge - although this one was a bit older than the others I've seen. The building it's okay from the outside, there is a m.o.t. on the other side but no biggie. There is no concierge, gym or anything fancy (Service Charge 1600 and includes ground rent too). I liked the interiors, I think the decor could be better but hey that's what they have now...
I'm tempted to make an offer of £305K but I have only one concern: electric heating. I read it can be very expensive?
Lots of those new builds have electric heating...the EA told me it was gas but I can firmly say it's electric, I don't think she knew the property that well.
Vendor needs to sell the property as she's buying a new one....

Got to be loads of this type of stuff just sitting there unsold now.

atrixa

redefinr said:

I'm tempted to make an offer of £305K but I have only one concern: electric heating. I read it can be very expensive?
Lots of those new builds have electric heating...the EA told me it was gas but I can firmly say it's electric, I don't think she knew the property that well.

I've got an old storage heater and an immersion heater in my flat and it's definitely more expensive than central heating. It's worth getting all the info you can about the heating system- the new systems should be a lot more efficient. Ask whether the meter is economy 7 or economy 10. These take advantage of cheap rate electricity. I've had some issues being able to switch suppiler as there's not a lot of companies that take on economy 10 customers and less that offer full support. Some info here if it becomes relevant: https://economy10.com/list-of-suppliers/

redefinr

Thanks for all the very useful informations... this forum is an incredible source of knowledge!
I will speak with the EA tomorrow and I will try to get all the infos about the heating system before....i just hope it's a convenient system so that I can make an offer, start negotiation and move on at this point.
There is a very similar property in the next building - it's very similar from the outside (windows etc) and ground rent in there is a whopping £400pa! 
From the inside I can say you don't get a lot of the traffic noise, the windows are nicely insulated and I don't see it as a problem at all. Also, it's not facing the street in the front but on the side which always help to diffuse sounds.
I will follow the advice to eventually offer £300K as my final price would be around £305.
I'm also waiting on the EWS certificate but there is definitely no cladding in the outside of the build.

Slithery

redefinr said:

I'm also waiting on the EWS certificate but there is definitely no cladding in the outside of the build.

Has the certificate been completed yet? If not you could be waiting for it a very long time.