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Buying flat in london
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Bow also has cycle superhighway 2 into central London. It takes me an hour cycling at a leisurely pace to get from my home in zone 4 to central London would be a lot quicker from Bow, especially as the cycling infrastructure north of the River is way better than south.1
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GDB2222 said:A good walk is a great way to start the day. I’m just saying that you might think again about being close to the station.
I may still compromise on this criteria if all other criteria meet.
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Schwarzwald said:
In terms of valuing, I put together a “comparison sheet” in excel and tracked each single property that I viewed. To prepare my offer, I also researched all Sold properties and prices in the very street I was looking at for the last 5 years (e.g. Rightmove).
I primarily focused on price per sq.ft, as I find the number of bedrooms v misleading. You can change the number of bedrooms in a given property easily, but square footage is square footage unless you do an extension.
I then adjusted for Leasehold vs (Share of) Freehold, garden vs no garden, etc. to come up with the specific price I was willing to bid. I also included a 5-7% budget for furniture, modernizing the space and select room refurbs.
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kaymee said:Schwarzwald said:
In terms of valuing, I put together a “comparison sheet” in excel and tracked each single property that I viewed. To prepare my offer, I also researched all Sold properties and prices in the very street I was looking at for the last 5 years (e.g. Rightmove).
I primarily focused on price per sq.ft, as I find the number of bedrooms v misleading. You can change the number of bedrooms in a given property easily, but square footage is square footage unless you do an extension.
I then adjusted for Leasehold vs (Share of) Freehold, garden vs no garden, etc. to come up with the specific price I was willing to bid. I also included a 5-7% budget for furniture, modernizing the space and select room refurbs.
If it does, that will show the total floor area in sq metres.I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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Aprtment prices are about to be hit by the building safety bill now in the house of lords but will be law by end of March and come in 2013/14. All flats will need to pass the PAS9980 and no one knows if any will so remediation/buildings ins bills will hit service charges hard with a 2 bed flat likely to double form 2.5k to 5k. No one knows how this will affect prices but I would wait a couple of years to see what happens before buying as prices won't rise in the short term until all flats have this certificate.0
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kaymee said:Schwarzwald said:
In terms of valuing, I put together a “comparison sheet” in excel and tracked each single property that I viewed. To prepare my offer, I also researched all Sold properties and prices in the very street I was looking at for the last 5 years (e.g. Rightmove).
I primarily focused on price per sq.ft, as I find the number of bedrooms v misleading. You can change the number of bedrooms in a given property easily, but square footage is square footage unless you do an extension.
I then adjusted for Leasehold vs (Share of) Freehold, garden vs no garden, etc. to come up with the specific price I was willing to bid. I also included a 5-7% budget for furniture, modernizing the space and select room refurbs.
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K_S said:@kaymee To see the floor area for the property, check if it has an EPC certificate here https://find-energy-certificate.service.gov.uk/find-a-certificate/search-by-postcode?lang=en&property_type=domestic
If it does, that will show the total floor area in sq metres.I don’t suppose I can find this information in a downloadable format (that will help me get sqm data in bulk, to be able to calculate / study psf data in bulk)?0 -
coypondboy said:Aprtment prices are about to be hit by the building safety bill now in the house of lords but will be law by end of March and come in 2013/14. All flats will need to pass the PAS9980 and no one knows if any will so remediation/buildings ins bills will hit service charges hard with a 2 bed flat likely to double form 2.5k to 5k. No one knows how this will affect prices but I would wait a couple of years to see what happens before buying as prices won't rise in the short term until all flats have this certificate.
dont have details at hand at this topic, but I think a far too broad statement to make to generally dismiss purchases right now. What if property prices continue to increase substantially in the short to medium term?
An increase in services charges might then still be not top of your worries in 5 years.
Consider yes, but who knows where the market is in the next years?
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coypondboy said:Aprtment prices are about to be hit by the building safety bill now in the house of lords but will be law by end of March and come in 2013/14. All flats will need to pass the PAS9980 and no one knows if any will so remediation/buildings ins bills will hit service charges hard with a 2 bed flat likely to double form 2.5k to 5k. No one knows how this will affect prices but I would wait a couple of years to see what happens before buying as prices won't rise in the short term until all flats have this certificate.
and my understanding was that the banks already look for compliance to these safety standards before approving any mortgage. Or am i confusing issues?
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kaymee said:K_S said:@kaymee To see the floor area for the property, check if it has an EPC certificate here https://find-energy-certificate.service.gov.uk/find-a-certificate/search-by-postcode?lang=en&property_type=domestic
If it does, that will show the total floor area in sq metres.I don’t suppose I can find this information in a downloadable format (that will help me get sqm data in bulk, to be able to calculate / study psf data in bulk)?
But unless you're comparing very similar properties, in London there are as-significant or more-significant factors than floor-area that impact price, even for flats.I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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