Affordable housing

hippocrates1

What are peoples opinions regarding living near affordable housing. I went to look at a plot yesterday I knew it was near affordable housing but unsure which type. I would have been fine with shared ownership but unfortunately it was next to a block of single bed social rented flats. So I asked for my reservation fee back. 

The sales people definitely acted like I was people a horrible human being. However new builds already struggle to gain value. Surely that would hugely impact the resale value? Did I dodge a bullet or am I being an !!!!!!?

side question. Would you ever buy on a development that has many years to go? As obviously people will prefer a new building over your house if you need to sell. 

HanPop

We lived in ‘affordable housing’ for our first home on a new build estate (7 years ago) and we were shared ownership. The road was a mixture of full priced/shared ownership/social housing and in the main it was fine. If you don’t want to buy near ‘affordable housing’ then fair enough but don’t tar everyone with the same brush. You may get an awful neighbour in non affordable housing. 

I would be wary about buying on an estate that has years of building to go if I was planning to sell up before they had finished, otherwise you’re in competition to sell with the developer and everyone would pick a brand new house over the same one ‘second hand’.

hippocrates1

HanPop said:

We lived in ‘affordable housing’ for our first home on a new build estate (7 years ago) and we were shared ownership. The road was a mixture of full priced/shared ownership/social housing and in the main it was fine. If you don’t want to buy near ‘affordable housing’ then fair enough but don’t tar everyone with the same brush. You may get an awful neighbour in non affordable housing. 

I would be wary about buying on an estate that has years of building to go if I was planning to sell up before they had finished, otherwise you’re in competition to sell with the developer and everyone would pick a brand new house over the same one ‘second hand’.

that’s what I said? I said I wouldn’t mind living next to shared ownership. As those people have a stake in the property and likely care about it more. I just wouldn’t want to live next to council flats. Plus flats are more likely to have cars on the street. 

AdrianC

Here's an alternative thought...

People who have managed to get allocated council or housing association properties are those in the greatest need. They're not likely to jeopardise their tenancy.

People, otoh, in privately-rented properties have a much lower stake in their tenancy. And who knows which properties will be bought to be let?

hippocrates1

AdrianC said:

Here's an alternative thought...

People who have managed to get allocated council or housing association properties are those in the greatest need. They're not likely to jeopardise their tenancy.

People, otoh, in privately-rented properties have a much lower stake in their tenancy. And who knows which properties will be bought to be let?

I’m less bothered by living there more bothered about resale value. 

krusty101

We’re buying a new build with housing association houses at the back. I had a little wobble I won’t deny it, but then thought that like anyone you can get good and bad everywhere. I assume if someone is a nightmare at least you have a chance they could be chucked out. We currently are attached to some ‘nice’ middle class types who on paper should be good neighbours but are in fact selfish, noisy, knobs and are one of the key reasons we want a detached house now. 

hippocrates1

For reference the dot is where the house was. The yellow houses are affordable. So there’s more affordable than privately owned. 

zzzt

AdrianC said:

Here's an alternative thought...

People who have managed to get allocated council or housing association properties are those in the greatest need. They're not likely to jeopardise their tenancy.

People, otoh, in privately-rented properties have a much lower stake in their tenancy. And who knows which properties will be bought to be let?

I think you are probably spot on. I purposefully avoided living in a council house area and purposefully chose a nicer area. I now live next door to the biggest <swear word> in the world, who drives me crazy all day and all night with his noise. How I wish it was a council house so I could complain to the council and get them to sort it out.

Doodlebugs

We lived near the council end of our last estate. We had no issues with the neighbours, they were lovely. The other, privately owned side however, were a different kettle of fish entirely.
I’ve also lived near some council houses with seriously, awful tenants. 

If you like the house buy it, if not look elsewhere, there’s no guarantee of good neighbours wherever you buy. 

annetheman

zzzt said:

AdrianC said:

Here's an alternative thought...

People who have managed to get allocated council or housing association properties are those in the greatest need. They're not likely to jeopardise their tenancy.

People, otoh, in privately-rented properties have a much lower stake in their tenancy. And who knows which properties will be bought to be let?

I think you are probably spot on. I purposefully avoided living in a council house area and purposefully chose a nicer area. I now live next door to the biggest <swear word> in the world, who drives me crazy all day and all night with his noise. How I wish it was a council house so I could complain to the council and get them to sort it out.

True.
I'm moving into a block with 4 council rented and 20 shared ownership in it, and 2 other blocks adjacent regular open market. In the "affordable" block, we all have the same landlord on our leases and know who to complain to if a neighbour is a nuisance. If I were in the other 2 blocks and a BTL landlord had let out one of the flats to 2 noisy couples, I wouldn't know who to complain to and the police won't get involved unless there's a criminal offence happening as part of that nuisance.

The 2 beds are renting at £1,800 (as let in Sept) and the ad said 2 couples max. So each individual paying £450 might not be the respectful professionals you think might live in the block if you paid FMV. In the affordable block, there's no subletting allowed. A lot to lose and nowhere to hide if you don't play nice.

There are also new blocks being built in the norther part of the development but a) I don't plan to move any time in the next 5 years at least and b) they are selling for a much higher price, around £50k more; my block was finished in early 2020.

You really never know, it's a gamble either way.