Cheeky offer on Clapham flat?

Doozergirl

user1977 said:

Doozergirl said:

It's the same vibe and some of it is spitting distance from the windmill.  

Local signage suggests it's not spitting which is the problem...

Oh wow.   It's great to watch everything that happens on the common but it probably does
make those houses a bit of a target for antisocial behaviour.  

Crashy_Time

greensalad said:

Crashy_Time said:

The price is laughable, you will be financially hit hard if interest rates rise.

But we don't know the situation of the OP, perhaps they're cash buyer.

But the value of their house is affected by what other people can pay not by how much they paid or how they paid, that means that rising rates could see then unable to sell at the same inflated price they bought for.

MandyMcG

Doozergirl said:

user1977 said:

Doozergirl said:

It's the same vibe and some of it is spitting distance from the windmill.  

Local signage suggests it's not spitting which is the problem...

Oh wow.   It's great to watch everything that happens on the common but it probably does
make those houses a bit of a target for antisocial behaviour.  

Ha!

Thankfully, this photo is from August 2020. The portaloos are long gone!

MandyMcG

So we've had some developments. I've done some due diligence on the current occupier (the hubby is there - she walked out on him), and he has quite the reputation amongst the neighbours for being "challenging". This really puts me off, so I may well give it a skip and have a look at buying a house in the "between the Commons" area near Northcote road.

Seems to be a number of decent 4 bed properties there in my price range, all within walking distance or a short bus ride of Clahpam Junction

This one took my interest: 
https://www.zoopla.co.uk/for-sale/details/56499903

Crashy_Time

There is a trickle of price cuts starting on lower priced 2 beds etc. this will eventually affect this flat and similar, I don`t think you should rush OP.

75k price cut so far on this one
https://www.rightmove.co.uk/properties/85984975#/?channel=RES_BUY

 they initially tried putting it UP by 10k which is kind of funny in itself but i guess they just missed the SDH bonanza giveaway?

Crashy_Time

There is nothing guaranteed about inflation, but if rates rise it is guaranteed that prices in places like Clapham will take a hit, and that is a great thing IMO.

Crashy_Time

PropertyLog showing lots of price cuts for Clapham now, SDH effect wearing off?

steve866

I would also suggest a freehold house for that budget even though the flat is lovely! Good luck 

Crashy_Time

Good advice, the price of the flat just isn`t any kind of value at all.

lookstraightahead

I used to commute to central London from Surrey, and had friends in Clapham. 

I preferred being very central or in the suburbs, but obviously your choice.

The flat looked lovely and I've lived in flats and loved them - love the environment of apartments. 

However, I wouldn't touch a flat at present, they could completely eat your money. And it's leasehold, and interest rates are going up and that might mean property prices stabilise or come down.

Honestly think about this - you made money before, don't buy a flat if you can help it.