ex-council flat - avoid completely?

sync94

Finally found a flat I like for a reasonable price: https://www.rightmove.co.uk/property-for-sale/property-77489326.html

However, after viewing I was told it is ex-local authority (redbridge council), although the EA said that all the flats are privately owned now but the freeholder is redbridge. The surrounding area seems nice, and the house ticks all my boxes but I am just worried about what I've heard on ex-local authority flats such as resaleability and high maintenance costs. The lease is also only 87 years so I will have to deal with it soon enough which will be another £4/5k down the drain excluding legal fees.The service charge is c.£1000 pa and ground rent is £10 pa.

Not sure if it's first time buyer doubts or if I have anything to be concerned with. Does anyone have any thoughts on ex local authority flats?

Rambosmum

Looks well maintained and a good size. I personally like ex LA flats, they tend to be well built with good size rooms and the maintenance seems to be kept up. Almost all flats come with service charges. The ground rent is very reasonable. Yes ex LA homes go up less in value than their private equivalent, but you buy it at a slight discount as well. 

MovingForwards

If you like it, can see yourself living there for a while, it's in your budget, then go for it.

The flat is nice, it's great having the full opening door/windows, the inside looks good too. 

Doesn't have the typical look of an ex-council property (grey pebble dash, unloved exterior etc).

bucksbloke

It is quite a nice block, however what would concern me is what the potential is for future maintenance projects. Blocks with flat roofs, a large number of security doors and lifts - I would always steer clear of!

hazyjo

I have a good friend in Oak Hill Gardens and I used to live in Highams Park so know it pretty well round there. Say a massive house come up for well over a mil down that road very recently I think (or very nearby!). Always thought it seemed nice over that side. The flat actually looks lovely. I'm the first one to be negative about ex-LA flats, but the fact there's a service charge, no apparent lift, pitched roof, looks well maintained and is in a lovely area, even I'd consider it if in the market for something like that.

Good luck.

AlexMac

I own two like that; one a straight Buy to Let, the other orignally a BTL but the Grandaughter is now the tenant,
No problems- neither as nice looking as the one you're considering, but both seemingly structurally similar; "conventional consstruction; brick walls and pitched tiled roofs (I wouldn't touch tower blocks, system built with a barge-pole and woud hesitate over lifts).
But my local Council are terrific freehold owners in the way they treat leaseholders.  They have a dedicated Leaseholder Team in the Housing Dept,  they consult and communicate well (via a "Leseholder Forum" which I ignore), they apply very reasonable service charges (£600-800 p.a. including insurance, routine grounds and building maintenence and caretaker services) and only charge me £5,000 ish every 8-10 years or so for biggies like new windows, balcony replacements, external decor, etc.  They even let me spread those repayments over 12-14 months istead of a single hit, even though that concession really only applies as a right to resident leaseholders, not grasping absentee landlords like me . 
Check if Redbrideg does the same- ring 'em up and ask?

So assuming it's cheaper than a comparable flat of similar size and location, jump at it!  

Norman_Castle

sync94 said:

The lease is also only 87 years so I will have to deal with it soon enough which will be another £4/5k down the drain

The current price will reflect the lease length, extending it will increase the value so not money down the drain.

searchlight123

i know this turning very well as good friends of ours had a flat there and apart from problems getting out the turning when there's been snow i don't see a problem at all. Nice area and a very nicely presented flat. Ex LA places tend to be very solidly built and that minimises any problems with noise transference between adjoining properties also. If it was me I would certainly go for it.

Owain_Moneysaver

Check whether your maintenance liability is just for a share of that block, or for the whole scheme (or a combination, eg 1/6 block + 1/30 grounds)
Apart from that, you wouldn't know it was ex-council would you?

ThePants999

Are the council the freeholder? I wouldn't have the council as my freeholder again - they're too happy to spend money on works of questionable necessity.

onwards&upwards

I like ex council houses that are now freehold (or the freehold can be obtained) as they are usually a good size for the price with sensible layouts and decent gardens, ex council flats are too high risk, wouldn’t touch one.