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Buying a Private Property in Shared Ownership Social Housing Project? Worth it?

124

Comments

  • gomer
    gomer Posts: 1,473 Forumite
    Name Dropper First Anniversary First Post
    ANDY87 wrote: »
    Yes it is fake news indeed. I don’t know which bus depot you’re referring to.

    I’ll await the his mystery map of yours :money:


    You clearly don't even know the area you are looking to invest in. Not exactly a good start. .:money:
  • ANDY87
    ANDY87 Posts: 19 Forumite
    gomer wrote: »
    You clearly don't even know the area you are looking to invest in. Not exactly a good start. .:money:

    Still waiting for the fairytale map :money:
  • gomer
    gomer Posts: 1,473 Forumite
    Name Dropper First Anniversary First Post
    edited 14 December 2019 at 1:41AM
    As far as the A12 corridor of Leyton goes you can sprinkle a bit of glitter over some dog mess & poke a few cherries in it to make it look pretty, but it's still going to be dog mess underneath.

    There's a reason so much of the property is rented in that part of Leyton & it's not because it's so up and coming. There are way more desirable areas of east London to invest with much better returns.

    You tend to find as in the case of Leyton that when certain communities make an area their stronghold, standards rapidly decline over time & the area becomes more and more run down until it is so run down those strongholds eventually move out of the area, the inevitable gradual gentrification then begins, then different communities move into the area and bring standards back up again.

    If your idea of gentrification is Poundland then it has everything to offer.
  • ANDY87
    ANDY87 Posts: 19 Forumite
    gomer wrote: »
    As far as the A12 corridor of Leyton goes you can sprinkle a bit of glitter over some dog mess & poke a few cherries in it to make it look pretty, but it's still going to be dog mess underneath.

    There's a reason so much of the property is rented in that part of Leyton & it's not because it's so up and coming. There are way more desirable areas of east London to invest with much better returns.

    You tend to find as in the case of Leyton that when certain communities make an area their stronghold, standards rapidly decline over time & the area becomes more and more run down until it is so run down those strongholds eventually move out of the area, the inevitable gradual gentrification then begins, then different communities move into the area and bring standards back up again.

    If your idea of gentrification is Poundland then it has everything to offer.

    I don’t agree, but you’re entitled to your opinion. Canary Wharf has plenty of rented property where investors buy-to-let? Would you say that’s a hole as well?

    You mention other areas of East London being more desirable with better returns. I’m genuinely intrigued. Which areas are you referring to and what’s so great about them? Please enlighten me.
  • gomer
    gomer Posts: 1,473 Forumite
    Name Dropper First Anniversary First Post
    edited 14 December 2019 at 4:58AM
    Get some sleep Andy., You've got some serious shopping to do in the morning. Poundland wont be leaving Leyton any time soon, they just happen to sell those lovely white wreaths shaped like love hearts for your front door too. Some of the larger branches have a Bright house agent too, so that's your appliances sorted as well.

    Once you get inside the block, if it's the side of the building where the balconies look down on the slip road that goes round the back way to Asda, just look to your left over the A106 and you'll see the Tower Transit bus depot just by the railway sidings - my partner works for them but i expect thats fake news too.

    I understand your embarrassment. You probably weren't expecting a reply from someone who knew the exact location like the back of their hand lol
  • ANDY87
    ANDY87 Posts: 19 Forumite
    gomer wrote: »
    Get some sleep Andy., You've got some serious shopping to do in the morning. Poundland wont be leaving Leyton any time soon, they just happen to sell those lovely white wreaths shaped like love hearts for your front door too. Some of the larger branches have a Bright house agent too, so that's your appliances sorted as well.

    Once you get inside the block, if it's the side of the building where the balconies look down on the slip road that goes round the back way to Asda, just look to your left over the A106 and you'll see the Tower Transit bus depot just by the railway sidings - my partner works for them but i expect thats fake news too.

    I understand your embarrassment. You probably weren't expecting a reply from someone who knew the exact location like the back of their hand lol

    Embarrassed? :rotfl: Far from it. Has that ruined your day now? Cheer up pal.

    You need to get your story right! First your highness would only drive through the hole your highness described as some imaginary part of Leyton. Now your highness’s partner works in this imaginary part of Leyton as well. We feel truly special now. Imagine having royalty at our doorstep:rotfl:

    Leyton must be special after all;)
  • gomer
    gomer Posts: 1,473 Forumite
    Name Dropper First Anniversary First Post
    edited 14 December 2019 at 11:35AM
    I suppose i have been a little disingenuous about the location really. I didn't even mention the Burger King or KFC for when you have dinner parties & you're feeling a bit Artisan lol
  • ANDY87
    ANDY87 Posts: 19 Forumite
    gomer wrote: »
    I suppose i have been a little disingenuous about the location really. I didn't even mention the Burger King or KFC for when you have dinner parties & you're feeling a bit Artisan lol

    Oh is that so? Have a look at this:
    https://www.thetimes.co.uk/article/leyton-london-best-places-to-live-r3kslkcvw

    Let’s just pretend that you making a fool of yourself didn’t happen:money:
  • hazyjo
    hazyjo Posts: 15,470 Forumite
    First Anniversary Name Dropper First Post Photogenic
    ANDY87 wrote: »
    And I believe I’ve mentioned several times now that I’m not interested in the shared ownership flats. So ofc I’ll be able to let it out.

    Mate, my post literally said the same thing - clarifying to others you weren't buying shared ownership!! Read it properly!

    Really don't know why you think your lease will be different.

    NEVER trust the estate agent when it comes to leases. They've probably not even read the poxy thing. That really is basic knowledge.

    Not saying don't buy in Leyton, each to their own and all that, but saying it is VERY unwise to buy a new build high rise there with high service charges, no concierge, lifts, prob unable to rent it out, extremely overpriced, and with them dropping prices due to lack of interest. Similar flats in popular areas have waiting lists.

    I give up. You're gonna buy it anyway.

    All the very best of luck...!
    2023 wins: *must start comping again!*
  • hazyjo
    hazyjo Posts: 15,470 Forumite
    First Anniversary Name Dropper First Post Photogenic
    edited 15 December 2019 at 1:00AM
    ANDY87 wrote: »
    Fair enough. You would spend it where exactly? Which areas?
    To answer this question I missed:

    Highams Park
    North Chingford (made nearly £250k there in 3 years myself)
    Leytonstone will continue to rise
    Yes, Leyton too, but not that flat
    Wanstead
    Gants Hill long term
    Even Romford in parts
    And further out, Upminster and Leigh-on-Sea where I am (way too far for you, but it will make people money)
    2023 wins: *must start comping again!*
This discussion has been closed.
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