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Buying a council flat at Hammersmith
vasso
Posts: 9 Forumite
I've viewed a flat for sale at Hammersmith in social housing building. There are 9 flats, 5 have been bought privately the other 4 are rented by the Council.
I really like the flat, the location and the price of the flat. I'm really worried about the tenants, any major works performed by the Council and the value of the house in case I have to sell it.
What is your experience with ex council flats with council tenants still live in? Is it a risky investment?
I really like the flat, the location and the price of the flat. I'm really worried about the tenants, any major works performed by the Council and the value of the house in case I have to sell it.
What is your experience with ex council flats with council tenants still live in? Is it a risky investment?
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Comments
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I think ex council houses are a good investment. Flats not so much, the risk of the council deciding on vast expenses and you having to pay your share is too great.I'm a Forum Ambassador on the housing, mortgages, student & coronavirus Boards, money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.1
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I will not indulge in snobbery over council tenants, they are people just like a private tenant. Tenants from hell come from all strata of society
However, the risk of large repair bills for flats is just too great for me to ever consider one in a block mixed with live council ones .1 -
The problems could be the same wherever flats are tenanted eg noisy neighbours but you might also get a problem family allocated. The main issue is that any communal charges will likely be higher than the private sector as council contracts by necessity for coverage tend go to larger contractors with higher overheads rather than be outsourced to smaller entities eg local odd jobber.1
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