Possible Banbury FTB

neilp

I was being very sensible and putting off buying, then saw this advertised today:

http://www.rightmove.co.uk/viewdetails-19688837.rsp?pa_n=3&tr_t=buy

As it happens, it was being advertised at 139K this afternoon, and is now 10K lower with 5% deposit paid. I can't help but think that at 125K (ie no stamp duty) plus 5% deposit paid - which would be my highest offer - this would be a really good deal irrespective of what prices do. (Also, it looks like a lovely flat where I would be very happy living, which counts for something). I should add that I would be in a position to put down a 10-15% deposit (on top of the 5% deposit paid).

UPDATE: I've just seen another flat (1 bedroom) in the same building, which seems an even better deal, particularly if a cheeky offer were accepted:

http://www.rightmove.co.uk/viewdetails-19688840.rsp?pa_n=1&tr_t=buy

I would be interested in people's thoughts, especially anyone in Banbury who knows the area and/or local property market. I know the town quite well, but have never actually lived there (I'm currently based in Oxford).

SquatNow

Or wait a year and buy it for £60k

Doozergirl

It looks like a fabulous first time buy. Looks priced to sell as well, I agree.

Don't know Banbury at all except for the view from the M40 I'm afraid but I guess I should be geographically cheaper and that looks pretty cheap to me. Looks cheap compared everything else is on offer and duplex + period property should add a little value I think.

Share of Freehold, ridiculously long lease.

I'd love that if I were alone :rotfl: In fact, can I move in?

Zammo

neilp wrote: »

this would be a really good deal irrespective of what prices do.

So if prices drop another 20-30% it would still be a good deal??

It's a flat, it's value will be hit the hardest during the crash. Hold on for another 12 months, you'll be able to buy a nice house for the same price with a garden and no management fees or lease to worry about.