What’s wrong with this property

Emmia

Ybe said:

Herzlos said:

Ybe said:

ReadySteadyPop said:

Herzlos said:

ReadySteadyPop said:

How much do you think the 400k flat cost in 2008?

Somewhere about £250k. Someone will have made a tidy profit on it after holding it for 17 years. 

Assuming you mean 5 Inkwell close, which was the first link I found in here to a 400k flat, we can see the price history:

https://www.rightmove.co.uk/house-prices/details/d8ae29fe-8eb9-4059-8799-fe0bd097fa67

It was first sold for £138k in 1999, then for £405k in 2018. It failed to sell in 2023 and I don't see an asking price for it. 

Why it sold for £405k in 2018 and is now for sale for £400k in 2025 I don't know. Maybe it was wildly overpriced back then, maybe it's a market correction. 

What do you reckon it'll be worth in 2050? More or less than £400k?

Not someone buying now though?

 Looks like the current seller also bought at the wrong time?

Surely no one can time the market though.  If you buy to live somewhere, you’re saving money vs renting. The ultimate question I can’t work out is 1 bed or stretch for a 2 bed. 

Bingo. You're never going to be able to predict the future in enough granularity to know whether to buy now or wait.  It should be more about whether you can afford to buy x or y and want to live there. 

If you're stretching to get to the 2 bed and that's going to cause you problems, go for a 1 bed. If you can comfortably afford the difference I'd go for the 2 bed. 

The other difference is the 2 bed I’ve looked at is under 10 minutes walk from the tube. The 1 bed is 15 minutes but has a balcony.  

Why are you even considering the 1 bed? Does the 2 bed not have a balcony or outside space?

Herzlos

Ybe said:

Herzlos said:

Ybe said:

ReadySteadyPop said:

Herzlos said:

ReadySteadyPop said:

How much do you think the 400k flat cost in 2008?

Somewhere about £250k. Someone will have made a tidy profit on it after holding it for 17 years. 

Assuming you mean 5 Inkwell close, which was the first link I found in here to a 400k flat, we can see the price history:

https://www.rightmove.co.uk/house-prices/details/d8ae29fe-8eb9-4059-8799-fe0bd097fa67

It was first sold for £138k in 1999, then for £405k in 2018. It failed to sell in 2023 and I don't see an asking price for it. 

Why it sold for £405k in 2018 and is now for sale for £400k in 2025 I don't know. Maybe it was wildly overpriced back then, maybe it's a market correction. 

What do you reckon it'll be worth in 2050? More or less than £400k?

Not someone buying now though?

 Looks like the current seller also bought at the wrong time?

Surely no one can time the market though.  If you buy to live somewhere, you’re saving money vs renting. The ultimate question I can’t work out is 1 bed or stretch for a 2 bed. 

Bingo. You're never going to be able to predict the future in enough granularity to know whether to buy now or wait.  It should be more about whether you can afford to buy x or y and want to live there. 

If you're stretching to get to the 2 bed and that's going to cause you problems, go for a 1 bed. If you can comfortably afford the difference I'd go for the 2 bed. 

The other difference is the 2 bed I’ve looked at is under 10 minutes walk from the tube. The 1 bed is 15 minutes but has a balcony.  

How much do you value the travel time and balcony? I think often a balcony sounds like a good idea but in reality it'll only likely be used for drying laundry if it's sheltered enough. 

Tabieth

Ybe said:

Herzlos said:

Ybe said:

ReadySteadyPop said:

Herzlos said:

ReadySteadyPop said:

How much do you think the 400k flat cost in 2008?

Somewhere about £250k. Someone will have made a tidy profit on it after holding it for 17 years. 

Assuming you mean 5 Inkwell close, which was the first link I found in here to a 400k flat, we can see the price history:

https://www.rightmove.co.uk/house-prices/details/d8ae29fe-8eb9-4059-8799-fe0bd097fa67

It was first sold for £138k in 1999, then for £405k in 2018. It failed to sell in 2023 and I don't see an asking price for it. 

Why it sold for £405k in 2018 and is now for sale for £400k in 2025 I don't know. Maybe it was wildly overpriced back then, maybe it's a market correction. 

What do you reckon it'll be worth in 2050? More or less than £400k?

Not someone buying now though?

 Looks like the current seller also bought at the wrong time?

Surely no one can time the market though.  If you buy to live somewhere, you’re saving money vs renting. The ultimate question I can’t work out is 1 bed or stretch for a 2 bed. 

Bingo. You're never going to be able to predict the future in enough granularity to know whether to buy now or wait.  It should be more about whether you can afford to buy x or y and want to live there. 

If you're stretching to get to the 2 bed and that's going to cause you problems, go for a 1 bed. If you can comfortably afford the difference I'd go for the 2 bed. 

The other difference is the 2 bed I’ve looked at is under 10 minutes walk from the tube. The 1 bed is 15 minutes but has a balcony.  

This is why you need to physically go and see them. I had ideas of what mattered to me when I started house hunting. That list changed as I viewed properties and refined my priorities. Go and view them both. Get a feel for them and start to refine what matters to you. 

MeteredOut

@Ybe it is 12 days since you started this thread. Have you viewed any properties in that time?

If not, its starting to look like you're an digital version of those people that just go view houses for the sake of viewing, but can never commit to making a decision.

Are you actually wanting to buy a property to live in? Or are you seeing this as investment?

Ybe

MeteredOut said:

@Ybe it is 12 days since you started this thread. Have you viewed any properties in that time?

If not, its starting to look like you're an digital version of those people that just go view houses for the sake of viewing, but can never commit to making a decision.

Are you actually wanting to buy a property to live in? Or are you seeing this as investment?

It’s to live in. I’ve booked a few viewings yes. The new build is off plan so there’s nothing to view. 

I think also with a 2 bed I’d have to use a larger deposit to bring the monthly repayments to the level I want it which means less emergency savings. 

And the 2 bed I posted - I keep thinking there must be something wrong with it other than price to have not sold for 2 years 

Herzlos

Off plan is tricky, does the time for it to be built matter? It sounds like you're not in any rush to move which is good. 

Viewing is definitely the best way to go though; places can seem good on paper, with the estate agent trying to present it as well as possible, but you hate as soon as you walk in. 

Ybe

Herzlos said:

Off plan is tricky, does the time for it to be built matter? It sounds like you're not in any rush to move which is good. 

Viewing is definitely the best way to go though; places can seem good on paper, with the estate agent trying to present it as well as possible, but you hate as soon as you walk in. 

The 2 bed seems good but I’m still suspicious. Why has it not sold for too long. Could it be the electric storage heaters, electric mega flow for hot water and electric hob? 

With the new build, it’s the fact it’s new that appeals to me. 

Ybe

Emmia said:

Ybe said:

Herzlos said:

Ybe said:

ReadySteadyPop said:

Herzlos said:

ReadySteadyPop said:

How much do you think the 400k flat cost in 2008?

Somewhere about £250k. Someone will have made a tidy profit on it after holding it for 17 years. 

Assuming you mean 5 Inkwell close, which was the first link I found in here to a 400k flat, we can see the price history:

https://www.rightmove.co.uk/house-prices/details/d8ae29fe-8eb9-4059-8799-fe0bd097fa67

It was first sold for £138k in 1999, then for £405k in 2018. It failed to sell in 2023 and I don't see an asking price for it. 

Why it sold for £405k in 2018 and is now for sale for £400k in 2025 I don't know. Maybe it was wildly overpriced back then, maybe it's a market correction. 

What do you reckon it'll be worth in 2050? More or less than £400k?

Not someone buying now though?

 Looks like the current seller also bought at the wrong time?

Surely no one can time the market though.  If you buy to live somewhere, you’re saving money vs renting. The ultimate question I can’t work out is 1 bed or stretch for a 2 bed. 

Bingo. You're never going to be able to predict the future in enough granularity to know whether to buy now or wait.  It should be more about whether you can afford to buy x or y and want to live there. 

If you're stretching to get to the 2 bed and that's going to cause you problems, go for a 1 bed. If you can comfortably afford the difference I'd go for the 2 bed. 

The other difference is the 2 bed I’ve looked at is under 10 minutes walk from the tube. The 1 bed is 15 minutes but has a balcony.  

Why are you even considering the 1 bed? Does the 2 bed not have a balcony or outside space?

Lower outgoings and it’s new 

SarahB16

Ybe said:

Emmia said:

Ybe said:

Herzlos said:

Ybe said:

ReadySteadyPop said:

Herzlos said:

ReadySteadyPop said:

How much do you think the 400k flat cost in 2008?

Somewhere about £250k. Someone will have made a tidy profit on it after holding it for 17 years. 

Assuming you mean 5 Inkwell close, which was the first link I found in here to a 400k flat, we can see the price history:

https://www.rightmove.co.uk/house-prices/details/d8ae29fe-8eb9-4059-8799-fe0bd097fa67

It was first sold for £138k in 1999, then for £405k in 2018. It failed to sell in 2023 and I don't see an asking price for it. 

Why it sold for £405k in 2018 and is now for sale for £400k in 2025 I don't know. Maybe it was wildly overpriced back then, maybe it's a market correction. 

What do you reckon it'll be worth in 2050? More or less than £400k?

Not someone buying now though?

 Looks like the current seller also bought at the wrong time?

Surely no one can time the market though.  If you buy to live somewhere, you’re saving money vs renting. The ultimate question I can’t work out is 1 bed or stretch for a 2 bed. 

Bingo. You're never going to be able to predict the future in enough granularity to know whether to buy now or wait.  It should be more about whether you can afford to buy x or y and want to live there. 

If you're stretching to get to the 2 bed and that's going to cause you problems, go for a 1 bed. If you can comfortably afford the difference I'd go for the 2 bed. 

The other difference is the 2 bed I’ve looked at is under 10 minutes walk from the tube. The 1 bed is 15 minutes but has a balcony.  

Why are you even considering the 1 bed? Does the 2 bed not have a balcony or outside space?

Lower outgoings and it’s new 

You have previously expressed concerns regarding potentially losing money or finding it difficult to sell your flat in the future.   A one bed flat will be far more difficult to sell compared to a 2-bed flat. 

Would you consider renting out the second bedroom under the 'rent a room' scheme and most (if not all) of the rental income would be tax free and would help you to pay your mortgage.  

Emmia

Ybe said:

Emmia said:

Ybe said:

Herzlos said:

Ybe said:

ReadySteadyPop said:

Herzlos said:

ReadySteadyPop said:

How much do you think the 400k flat cost in 2008?

Somewhere about £250k. Someone will have made a tidy profit on it after holding it for 17 years. 

Assuming you mean 5 Inkwell close, which was the first link I found in here to a 400k flat, we can see the price history:

https://www.rightmove.co.uk/house-prices/details/d8ae29fe-8eb9-4059-8799-fe0bd097fa67

It was first sold for £138k in 1999, then for £405k in 2018. It failed to sell in 2023 and I don't see an asking price for it. 

Why it sold for £405k in 2018 and is now for sale for £400k in 2025 I don't know. Maybe it was wildly overpriced back then, maybe it's a market correction. 

What do you reckon it'll be worth in 2050? More or less than £400k?

Not someone buying now though?

 Looks like the current seller also bought at the wrong time?

Surely no one can time the market though.  If you buy to live somewhere, you’re saving money vs renting. The ultimate question I can’t work out is 1 bed or stretch for a 2 bed. 

Bingo. You're never going to be able to predict the future in enough granularity to know whether to buy now or wait.  It should be more about whether you can afford to buy x or y and want to live there. 

If you're stretching to get to the 2 bed and that's going to cause you problems, go for a 1 bed. If you can comfortably afford the difference I'd go for the 2 bed. 

The other difference is the 2 bed I’ve looked at is under 10 minutes walk from the tube. The 1 bed is 15 minutes but has a balcony.  

Why are you even considering the 1 bed? Does the 2 bed not have a balcony or outside space?

Lower outgoings and it’s new 

It won't be "new" when you come to sell - so you'll over pay for newness and only one bedroom means you'll want to sell and move more quickly.