House buying -Area Advice New Build Merstham

nataliass

Hi All,
So I am looking to buy this new build in Merstham
www.zoopla.co.uk/new-homes/details/53800344?search_identifier=947802b91c35d1ab99b0efa362126e7d

These new builds are built on previous social housing flats,

www.getsurrey.co.uk/news/surrey-news/merstham-regeneration-demolition-begins-portland-13888980

www.reigate-banstead.gov.uk/info/20327/merstham/378/merstham_regeneration
Raven Housing Trust obtained planning permission (with conditions) to demolish the existing shops and flats and create 48 homes (a mixture of houses and flats). Tenants of the existing flats have all been rehoused. Some of the shopkeepers have agreed leases for the new shops on the Iron Horse or Triangle sites; the others will relocate or close.

Also as part of the regeneration they have demolished an old pub and made a new Co-operative a few years ago.

citicentric.co.uk/2017/06/05/portland-drive-merstham-estate-regeneration/

The new builds are being build by Raven Housing trust.

The house we like a 3 bed semi-detached is around £450,000

I have been researching Merstham and not sure if the houses are good for the money I am paying.

Houses in old Merstham and South Merstham are mainly Victorian and Edwardian and even old houses sell for nearly £500,000

In fact there is a new build in Old Merstam and they are from £569,00 and onwards
www.zoopla.co.uk/new-homes/details/53896959?search_identifier=6fde42714241e1b9446393dd6ffdfcee

Again last year a similar new build in old Merstham was sold for £539,000 and more
www.primelocation.com/new-homes/details/51409212

It seems the area that I am looking at Portland Drive and around was a council estate and 2 or 3 bed houses sell for a maximum of £400,000 and so
see these two
www.zoopla.co.uk/for-sale/details/54180151?search_identifier=46c37c848afb3e154369348efd89af57

www.zoopla.co.uk/for-sale/details/54120187?search_identifier=46c37c848afb3e154369348efd89af57
A 2 bedroom terraced house was sold in July 2018 just opposite the new build for £278,000
www.rightmove.co.uk/house-prices/detailMatching.html?prop=60711964&sale=55951256&country=england

It seems there is a difference of around £100,000 in old Merstham and council estate area. 
I have spoken to most of the agents in that area and they say Albury Road and Nutfield are posh areas and will always have more value.
Is it a good idea to buy this house - I like the house - the garden is small( has a slope). I am thinking if I live here for around 3 to 5 years and then buy a house in old Merstham.
I will have to put the new build for sale or on rent. But I don't want to risk losing almost a £100,000 
Can anyone share their thoughts please?

Sorry for the long post and thanks in advance.

nataliass

anyone