Feedback on these two flats pl

cherry76

https://www.rightmove.co.uk/properties/138510206#/floorplan?activePlan=1&channel=RES_BUY

Planning to view but am not sure how heating, water and insurance works. How is the heating turn on in winter as we all have different heating needs. Is it control centrally? I will ask EA but thought somebody might know. It is also very dated. How much new kitchen and bathroom will cost. It’s a good size for a single person. I also think this block is managed by the council. The service charge seems reasonable.

https://www.rightmove.co.uk/properties/131347541#/?channel=RES_BUY

A bit small, not too keen with kitchen and reception all in one. Not much storage.

Which one is better value for money and worth considering buying.

Thanks

ThisIsWeird

How convenient are each for your work, and play?

And which one would you most look forward to coming home to - and that very much includes the walk from the tube to your door?

Wyndham

These things do come down to personal taste, so it does depend on what is important to you.

The first one includes heating, hot water and buildings insurance in  service charge of £266 per month. The second doesn't mention these things at all, so it would be a question you would need to ask - though I would expect the service charge (however much it is) to include at least buildings insurance. The details on the advert are only ever partial and it can be difficult to compare like with like based on these alone. I would expect that you can control your own heating times and levels, but again, worth checking.

The first one has a 101 year lease, compared to 999 for the second. 101 is OK, but if you were to sell on in ten years, it would then only be 91, and to be honest anything less than 100 can be problematic to sell.

Personally, I'd always prefer purpose build over a conversion, as in my experience it does affect noise levels from neighbours. But that may not be important to you. Also personally, I quite like having a balcony - just a way to 'sort of' get outside can sometimes be helpful for headspace! But again, that's me, not necessarily you.

Go see them both. See what you think. But remember, every property purchase has some sort of compromise.

cherry76

Thanks, you have raised some valid points. Besides the shorter lease, it will need a complete refurbishment. The decor is so dated but the flat is spacious. Will arrange a viewing over the weekend.

RedFraggle

The second one for me. I wouldn't want a London borough as a freeholder and not being able to control my utilities and being charged based on an overall usage including other people. 

babyblade41

2nd one for me hands down, but whatever works for you, I'm only looking at character and cosmetics 

Ditzy_Mitzy

The décor in the first one is nice!  And I can't see how neutral colours and hard floors counts as 'dated', however the kitchen and bathroom may not be to everyone's taste.  What sort of condition is it in?  You don't have to rip everything out just because it's a few years old.  

The second one has a longer lease but is inferior in other ways.  It lacks a balcony, firstly, and is significantly smaller - 367 sq ft as opposed to 508.  The kitchen in the second place really is tiny and, whilst perhaps being more to your taste, appears to be in poor condition - there is mould on the walls, the worktops are shabby and the floor looks filthy.  I would also be wary of the appliances and bathroom fittings; all look reasonably new, but appear of low specification.  You may well find yourself needing to refurbish in short order.  There is a significant mould bloom in the bathroom, and there is some suspicious looking staining on the waste pipe under the vanity unit.  Is it damp?  I'm suspicious of the patch on the kitchen ceiling.  It may be an artefact in the photo, it may not.  The place has the look of a former buy-to-let that has been tarted up on the cheap and hasn't been looked after.  In contrast, the first flat looks as if it has been occupied by the same person for quite some time and has been looked after.  

EssexHebridean

Have you spoken with a mortgage broker about either/both? The second may prove to give you a wider range of mortgage options if there are still any mortgage co's who are wary about "deck access" properties. (That may be something that no longer proves an issue however - someone else will be able to advise).

Ultimately though, and by far the most important thing - how do both properties feel to you? It may be that on viewing you will walk in to one or the other and absolutely love it - or of course the alternative...! 

cherry76

I quite like this one, it ticks all the boxes but the lease is short. Should not be an issue with mortgage  for me as having help from bank of mum and dad, But should be unite costly when it comes to renew.

https://www.rightmove.co.uk/properties/134217209#/?channel=RES_BUY

Skiddaw1

I like that one too- that's my favourite of the three.

NameUnavailable

Flat 1 is ex local authority, this can be good and bad. Size is good and having a separate living room means you can put a sofa bed and easily accommodate occassional visitors (not so easy with open plan spaces). A major downside is that LA's costs for maintenance when required are generally expensive - the service charge only covers routine things so be prepared for some potentially large bills in the future (i.e. work on the roof involving scaffolding etc). The good points with ex LA are in some cases, good room sizes, solid construction, formal maintenance process and they are often helpful with allowing major costs to be paid in instalments.

Flat 2 has a huge benefit of being shared freehold so you actually part own the building/land as well as having a long lease on the flat. But, it's very small and I would check if there's a flat in the roofspace (looks like a dormer window at the back). Noise can be an issue in conversion properties and being a Victorian building it will probably need more maintenance than newer buildings. That white paint on the front probably needs doing every 5 years or so and will involve scaffolding.

Flat 3 looks nice but is it also an ex LA flat? The lease will need to be extended before it drops below 80 years and you would have to live there for 2 years before you can start the process (you could ask the current vendor to start the process and you take over the right to it when you buy the flat) but does the price take the short lease into account and can you afford the cost to extend?