Huge new build estate

snowqueen555

I'm currently buying a new build flat.

It will have district heating and also OFNL internet.

The district heating is a really big issue for me, it is unregulated so has no price cap and is incredibly expensive, plus no option to change supplier.

OFNL means I can only get internet from those suppliers, I will not be able to get internet from companies like BT and Virgin.

In both examples the developer will have sold the contracts to make money off it. 

MobileSaver

snowqueen555 said:

I'm currently buying a new build flat. It will have district heating and also OFNL internet. The district heating is a really big issue for me, ... OFNL means I can only get internet from those suppliers

The obvious question is why are you still going ahead with purchasing that particular flat?!?!

snowqueen555

MobileSaver said:

snowqueen555 said:

I'm currently buying a new build flat. It will have district heating and also OFNL internet. The district heating is a really big issue for me, ... OFNL means I can only get internet from those suppliers

The obvious question is why are you still going ahead with purchasing that particular flat?!?!

I'm buying under the first homes scheme so it is still affordable. But even then I worry about the resale value as it is way overpriced because of that scheme, I have to commit to live there for a long time.

I have one foot in and one foot out. I'm waiting on the conveyancing pack and my final flat inspection to make my decision, I will only lose £1k of I pull out.

diystarter7

IMO and from I have seen, new build estates in my eyes have a negative effect on the older, more up-market detached properties built around the 1900's-ish

An uncle lives in an older detached house, the front width of the house (not the boundary is a good 50 feet and the boundary a lot more - they are quaint houses and some are two storey types other like massive cottages but with property high-ish ceilings and first floor bilt into the roof - a picture postcard setting. However, last 10 years or so, masses of new build around their estate and now you have to drive through a road with new houses to get there and around my uncles 6 foor brick walls surrounding their garden are mass of new builds - they stick out like a sore thumb. Many of the new builds are semi and or detached and a few houses on every new road are flagship houses. However, prices of uncle's property has gone up but I bet you not as much as it would have if it had not been for the new builds.  (Thiis is in Kent)

housebuyer143

Personally, if I see open fields on a property viewing I automatically think they going to build a huge estate there in the future. I would never want to live near a new build estate or a building site for years.

diystarter7

housebuyer143 said:

Personally, if I see open fields on a property viewing I automatically think they going to build a huge estate there in the future. I would never want to live near a new build estate or a building site for years.

Not if you bought 40/50 years ago but please feel free to disagree.

housebuyer143

diystarter7 said:

housebuyer143 said:

Personally, if I see open fields on a property viewing I automatically think they going to build a huge estate there in the future. I would never want to live near a new build estate or a building site for years.

Not if you bought 40/50 years ago but please feel free to disagree.

I am viewing now, not 50 years ago so your point is irrelevant? 
People should be expecting new builds on spaces of large open space. It tends to be what happens.

MobileSaver

snowqueen555 said:

MobileSaver said:

snowqueen555 said:

I'm currently buying a new build flat. It will have district heating and also OFNL internet. The district heating is a really big issue for me, ... OFNL means I can only get internet from those suppliers

The obvious question is why are you still going ahead with purchasing that particular flat?!?!

I worry about the resale value  ... I have one foot in and one foot out. I'm waiting on the conveyancing pack and my final flat inspection to make my decision, I will only lose £1k of I pull out.

I'm normally a glass-half-full type person but I'd be very wary too in your shoes.

Heating and Internet are obviously essential and price-sensitive services and in this day and age I'd be very concerned at restrictions on who you can and cannot sign up with. If most new developments follow the same practice then it's unlikely to be a problem but if yours is one the few with restrictions that could make your property much harder to sell when the time comes.

It is also likely that in the near future estate agents will have a legal obligation to warn future buyers in advance of such restrictions so something to be mindful of.

Ksw3

It would put me off but my two main gripes are lack of control and people being everywhere. There are some new builds near me and it feels claustrophobic just walking through.

snowqueen555

MobileSaver said:

snowqueen555 said:

MobileSaver said:

snowqueen555 said:

I'm currently buying a new build flat. It will have district heating and also OFNL internet. The district heating is a really big issue for me, ... OFNL means I can only get internet from those suppliers

The obvious question is why are you still going ahead with purchasing that particular flat?!?!

I worry about the resale value  ... I have one foot in and one foot out. I'm waiting on the conveyancing pack and my final flat inspection to make my decision, I will only lose £1k of I pull out.

I'm normally a glass-half-full type person but I'd be very wary too in your shoes.

Heating and Internet are obviously essential and price-sensitive services and in this day and age I'd be very concerned at restrictions on who you can and cannot sign up with. If most new developments follow the same practice then it's unlikely to be a problem but if yours is one the few with restrictions that could make your property much harder to sell when the time comes.

It is also likely that in the near future estate agents will have a legal obligation to warn future buyers in advance of such restrictions so something to be mindful of.

Yeah I'm very wary. But because it will have a 30% discount in perpetuity (for FTBs), I imagine the property will always be able to sell despite the shortfalls.

I plan to walk around the estate and ask a few people who are happy to speak to me.