Feedback on these two flats pl

RedFraggle

cherry76 said:

ThisIsWeird said:

hazyjo said:

Damn, just deleted my message. Will try and remember it all.

Would forget the first one. Various reasons:

Council owned (presumably) - might have reasonable a SC now, but there will be bills for expenses. Those balconies need work, and flat roofs don't last long. That'll prob run into the thousands.

Agree, the deck access would put me off. If mortgageable now, it may not be in the future. I'd also soon get fed up with being on the 3rd floor.

Google tells me they're developing the site next to it. Also rumours of it maybe being knocked down. If improved, you could find yourself with a massive bill. The works alone would put me off, even if this block's not touched. Not sure if they're demolishing the large flats or if it's elsewhere. Also found the wording "Currently the local council are looking to find a solution to the ongoing problems that occur with the upkeep of the estate."

The pub would also put me off (not to mention the large flats behind if they're staying).

Second one - fine. Small. Not much else to say! Attractive building. Absolutely no comparison outside - this tree-lined road wins hands down.

Third: lease length would put me off. As would 4th floor! You'll only forget something once lol. Definitely paying for location here.


What about this? Not sure on lease length etc https://www.rightmove.co.uk/properties/86275794#/?channel=RES_BUY

Good forensic skills re the other flats!

That other option, tho' - that kitchen is truly minute.

Fourth floor would not bother me I rather be on top floor. Was not aware of the developing site next to flat 2? Is there a link pl? Quite like Flat 3 at the right price. Shorter lease I could extend if the price is right. There is this one I am interested also. Will view over the weekend and then decide. I have been looking to buy for years and in desperation as do not seem to find a suitable one. I prefer purpose built one but they are mostly controlled by the council Not too keen on ex local authority. Conversion comes with their own issues. 

https://www.rightmove.co.uk/properties/134607386#/?channel=RES_BUY

Good decent least but £35,000 extra is it worth paying that much for longer lease.

That one is also ex LA. 

cherry76

There is a lift according to EA.

bouicca21

Lifts are expensive to maintain …

hazyjo

Wouldn't touch a council property with a lift. Renowned for massive charges due to faults/replacements.

Murphybear

There are a few thousand flats for sale in London, many in the areas you are looking in.  I did a quick search on Rightmove and you could get a 2 bedroomed flat in your budget.  I can’t comment on the area because, although I lived in London for 25 years, I left in 1996 so things will have changed a lot

NameUnavailable

Don't buy in desparation! It's not a great market for FTB properties at the moment so take your time to find the right one.

Can you broaden your search area? You could get a lot more for your money in other parts of London, or the same for a lot less.

The last flat looks nice inside but it's interesting that the EA hasn't taken any outside shots! Also the lift might be handy but VERY expensive for you if it needs repairs or - eventually - replacement.

zagubov

Herzlos said:

zagubov said:

Another matter would be that the 1st one in NW5 will cost about £3.5k p.a.. more in mortgage payments but if you took in a lodger you could get about double that in room rental. So mortgage payments for flat 2 about £21k pa.  but flat 1 £24k but potentially reduced to by around 30% to £16.5k due to the lodger.
Not a minor consideration for property in that there London.

Where are you going to put a lodger? I guess you could turn the reception room into another bedroom but then you're going to be living in a tiny space.

It's the only one of them has a way of isolating a bedroom from a reception room (where a sofa-bed could be used) while sharing access to a kitchen and bathroom.
It's London.
Single occupant dwellings are a poor match with single person incomes.
You need to get used to living in a tiny space, especially if you want to own property there.