New build flat near railway, good?

lloydb723

Second time poster, first time buyer. I have just pulled out of buying a flat in Exeter. Essentially the freeholders nearly went bust, there was no reservation fund in place and their accountant was in prison, so my solicitor advised against.

Jumped straight back in and found a new build right across the road but would like some advice. This is significantly more money but hoping to take advantage of help to buy. It is a spacious one bed, built in new appliances and is in a great location for amenities and travel. As it is more money would this depreciate?

The main concern is that it backs onto a railway with the living area facing the line. It is a small branch line which is good, a station so trains are slowing and I am low enough not to see them. When the windows are open you hear it every 20 minutes or so though. Does anyone have experience of this? Would this cause an issue with selling it on? As it's a new build I am hoping not, and you can't hear a thing when the windows are closed.

Also, the service charge is £50 a month and covers everything for one year. Plan is that all the flat owners would be in a share of the freehold and after one year, the developer would let us decide how to proceed on maintining the property. Has anyone heard of this type of set up? A good positive for me is that it has a ten year warranty and I dont intend to stay there more than two-three but would like feedback. Thanks for any help.

lloydb723

It is similar to yours. But as mentioned this isn't a main line so no fast trains, just small ones every twenty or so minutes. The bedroom is on the other side of the flat so no worries with that part.

The living area is very spacious so I did think you could open windows at one end and then position sofa away to keep cool and quieter. My only real concern would be selling it on, or losing money as it is a new build and is a bit above budget. Location is great othersiwe though so I feel it would sell. the others in the building have all gone bar one. I would add this in Exeter, Devon, so not London though.

GaleSF63

I'm also in a flat next to a railway line - really near - I don't know if you could fit 3 cars nose to tail between the wall of the living room and the line; probably just.

Also not a main line; also very near a station, so the trains are gently slowing down or just beginning to speed up. The main difference is that there aren't many trains.

The bedrooms are on the road side of the building and I have to listen very carefully to hear a train from there except for the sleeper [just gone past!) which has a "proper" engine.

I like it being there; I'm not sure why - perhaps it is therapeutic! I've been here about 20 years and never got fed-up with them. If there'any other noise, eg TV, or I'm concentrating, I miss them.

There are 24 flats and they don't have problems selling.

(And there's the (very) occasional steam train puffing its way up to Fort William - I love the noise they make.)

pattypan4

I am fairly close to a railway line but not a station. I love hearing the trains and there is definitely a therapy attached, don`t know why, maybe the rhythm

lookstraightahead

A difficult one for me to advise on. I love the sound of trains but hate the sound of cars - so much so that I had to move from my last property because of it. Remember sone people will undoubtedly be put off by this. Also think about it in terms of vibration.

My old local line is about to be turned into a main one. There is a newish estate built next to it (cheaper land) and not only will the line be extended and will now have intercuties, the road network around the estate is being expanded.

Having said that, for a flat where most folks commute and need convenience it might be a good thing.

NeilCr

lloydb723 wrote: »

Also, the service charge is £50 a month and covers everything for one year. Plan is that all the flat owners would be in a share of the freehold and after one year, the developer would let us decide how to proceed on maintining the property. Has anyone heard of this type of set up

Do you mean the freeholder is going to hand over the freehold of the estate to the owners and step away?

If yes then I have nearly 19 years experience of this on two estates. One a block of flats

Much the best arrangement. You, as owners, control what happens, set the service charges, appoint a Managing Agent etc. You don't have to deal with a freeholder who may dally about needed work, set higher service charges, appoint an unsuitable MA.

eddddy

A few things to clarify:

lloydb723 wrote: »

Also, the service charge is £50 a month and covers everything for one year.

That's just an estimate, it could end up more (or less).

But since it's a newbuild and has a warranty, there shouldn't be much unexpected spending.

lloydb723 wrote: »

Plan is that all the flat owners would be in a share of the freehold and after one year, the developer would let us decide how to proceed on maintining the property. Has anyone heard of this type of set up?

Is that stated in the contract, or is that just what the developer has said? If it's important to you, tell your solicitor to check it's in the contract.

Often, it's a good arrangement.

But sometimes it can be bad - essentially, a bunch of random 'amateur' flat owners will be responsible for managing a building. If everyone has different 'strange' ideas, things could get difficult.

But like I say - it's often good.

lloydb723 wrote: »

A good positive for me is that it has a ten year warranty and I dont intend to stay there more than two-three but would like feedback.

That's good. All newbuilds would have a 10 year warranty, otherwise they wouldn't be mortgageable.

silvercar

As long as it is factored into the price, it isn't a great issue.

In the heat of Summer it would be a pain if the noise meant you need to keep the windows shut.

Check there are not heavy goods trains using the line at night. The line half a mile from me has a few night trains that rattle more local houses.

When you come to sell it will put some people off, as you yourself are considering it carefully, so it should be cheaper than similar properties not on the line.

davidmcn

I lived right next to a line - branch line with a half-hourly service, which passed in each direction at roughly the same time, so you got used to the very regular sound quickly, and 25 mins or so of silence between trains. And nothing at all between about midnight and 6am (other than once-in-a-blue-moon engineering works).

Preferable to being near a main road with random noises 24/7.

seven-day-weekend

My husband and I, when we were house-hunting, looked at a bungalow which backed onto a small railway line. It's a line which goes between Birmingham and Shrewsbury. It was just down the road from the station. Express trains go through occasionally as well as the small local services.

We didn't buy the bungalow, but that was because we didn't like the bungalow. Nothing to do with the trains and we thought the station was a bonus.

So no, it wouldn't put me off.

Davesnave

Sounds like the Exmouth line.

I'm near the Tarka line and no one round here minds that. Handy if you want to watch the Chiefs and have a few after a game!

Not much use for anything that ends late, however.