Is this house a good buy?

Help1234

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ProDave

Neither would do me.  No front garden, no off road parking, how are you going to charge your EV?

propertyhunter

It depends on what you want from your home and whether it meets your needs. 

They are in very good condition for the homes that they are. How long are you planning on living there? Is the home-future proofed in terms of your future plans?

If you've been following the local market, what does your gut tell you? 

I have to say it must be a very desirable area to command those prices, and I'm saying this as a Londoner. 

SallyDucati

I would say the second has a much better layout, with a defined living room.  I wouldn't like to live in the first personally.

Help1234

It's a very expensive and desirable area. I envision living in a home here for 2-3 years before moving on to either a bigger house here or relocating. I would be happy to reconfigure the first if I could get near the second's price!

propertyhunter

Just remember that there are risks to buying somewhere for the short-term, so if the market fell for whatever reason, you could be selling at less than you bought. Of course, this would be relative - since your onward purchase would also have fallen in price - but just something to remember. 

Speak to the EA about your development plans, and perhaps a local builder if you have a contact. See what they think about its potential. 

Noneforit999

Help1234 said:

It's a very expensive and desirable area. I envision living in a home here for 2-3 years before moving on to either a bigger house here or relocating. I would be happy to reconfigure the first if I could get near the second's price!

SDLT is £12500 on a £450k purchase price assuming you are not a FTB

Seems a lot of money to spend plus relevant conveyancing and moving fees to live there potentially 2 years.

MINNIEMOMO

Both are overpriced personally. I have just bought near that area and you could get more space for that price. It depends what you want.

RelievedSheff

One is a 4 bed the other is a 2 bed which would go some way to explaining some of the price difference.

From a personal perspective I wouldn't buy either of those and would hate to think I would have to spend that much money to buy either of those. That is a massive amount of money for an old mid terraced property.

I would also question your logic in buying if you only intend to stay for a couple of years. Don't under estimate the costs associated with buying a house and moving. It all adds up

aoleks

extremely expensive for that amount of space (tiny) and location (middle of nowhere). those are surrey/outer london prices...

also, for a period of 2 years, you're better of renting.

AFF8879

Wouldn’t you be much better off getting something like this, far better value for money and only 0.1m longer walk to the station. Plus it’s already been reduced, so a chance of picking it up for even less than the asking price 

https://www.rightmove.co.uk/properties/120704264