Bad Reasons to Buy a Flat in a Tower Block?

Saga

Another cheap flat has come up for sale on the top couple of floors in the same tower block where I rent.  Having dismissed buying here before, I want to be objective about owning such a place so trying to think of all the reasons not too buy here. 

1. Even with a 40-50% deposit, it might be impossible to get a mortgage for anything above the 7th floor. Property is on top two floors of a 100-ft tower.
   
2. Originally a local authority building, but privately renovated about 15 years ago, so no idea what issues there are with the building now.
   
3. Extremely high service charge (about £275/mth) !
   
4. Not cladded but listing has no mention of EWS1 assessment having been carried out yet.
   
5. Cheap price seems to reflect the difficulty in a few of original owner-occupiers I have spoken with are facing when selling, so are renting out instead
   
6. Seems to be 'rougher' people (tenants) moving in and seemingly increased noise pollution.

If it wasn't for (6) I could see me living here for a long time as the flat is spacious and I don't exaggerate that the views would mean the flat would go for at least 4–6 times the asking price if it was in the city centre.

Then there's implications of the Fire Safety Bill when it becomes law, and no doubt much increased services charges.

Are there any other (obviously non-specific) reasons for not buying such a property that I need to be cognisant of?

bradders1983

7) you could end up with an absolute tosspot above you
8) you could end up with an absolute tosspot below you

davidmcn

bradders1983 said:

7) you could end up with an absolute tosspot above you

Unlikely given it's the top floor. Though it does mean you'd be the first to know about problems with the roof.

NameUnavailable

You can end up with tosspots whatever property you buy.

I would say don't do it. EWS1 is almost certainly going to be an issue for buying/selling. Crazy service charge which will also put a lot of people of buying in the future and it will only increase when the new fire regulations come into effect.

As the leaseholder you will have to foot the bill for fire improvements (helpfully the government have put a cap on what freeholders can charge each leaseholder at £70K in a year).

Fine as a rental but why buy someone else's problems! It would have to be DIRT cheap to even consider it (and as a cash buy).

bucksbloke

Never buy a high rise and especially a local authority high rise. 
Do you know how expensive it is to replace a lift? When they do, they will be asking you for your share......

Angela_D_3

I can’t see you getting a mortgage for it.  

moneysavinghero

9) you could end up with an absolute tosspot to the left of you
10) you could end up with an absolute tosspot to the right of you

Saga

Thanks.  Just needed some sensible reasons to avoid me pursuing this!

[Deleted User]

Urgh
no no no 
Dont do it !

teddysmum

What if the lift broke and was on a long waiting list for repair ? How would you cope ?
I once went  up near the   top floor of our council's tower block, (since  demolished and replaced by two others) and could actually feel the building swaying in the wind !

macman

They're supposed to sway in the wind. They would collapse if they were 100% rigid.