Owning your own home

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  • What do we think to this? http://www.rightmove.co.uk/property-for-sale/property-31469272.html

    Just had a quite cheeky offer rejected.

  • How so?

  • Tommy's girlfriend bought a flat in an ex-Council place, and just as Jeez says the Council informed them that they had decided to replace all the windows, and that she owned her flat she'd have to pay her share- which was just over 10K.

    Ouch.

  • The agent told me it has always been private accommodation, even though it looks like a council block. There is road access, although I agree that it's pretty desolate nearby. How can you tell that it's been on the market so long? When the agent turned me down he said it was because the seller thought that it was too low given the interest they were getting; can't be that much interest if it's been on since September!

  • Take a look around the area. Do it on weekdays, weekends, daytime, late at night, when school finishes etc, to get a feel for whether it's a place you'd really want to live. Many LA properties are in areas that estate agents would probably call 'edgy'

  • I'm planning on swinging by that way on my way home today, and maybe again on Saturday. It's not an area I'd choose, but as long as it's safe I don't mind too much. It's six miles to work.

  • I thought the house looked quite nice inside, lack of access from vehicles could be a pain though.

  • It's very small. It was quite embarrassing when me, my dad and the estate agent were trying to move from room to room, jostling about in the tiny corridor. There is vehicle access.

  • But no parking, not that I have a car.

  • Well I like the floorplan.
    It has gas c/h by the looks of it too.
    As you are adamant you are going to live there for 10 years, personally I would get saving so that you could knock down all the walls except around Bedroom 1.
    Then you could extend the kitchen into Bed 2 and have a pretty large living space...

  • Cheaper property in the UK is usually value by number of bedrooms more than by price per sq ft. It'd be much better to buy a large one bed than buy a small two bed and make it a one.

    Of course, but Sparky is struggling to find a one bed at the right price and he might be able to afford this place.
    He could always switch it back to sell.

    Also, great point on checking with the council.
    Trust nothing the EAs say.

  • On the face of it the price doesn't sound too bad compared with what others have sold for with the one exception of flat 18 which sold in 2010 for £101,000 and was newley refurbished. If you look on street view there was a flat up for auction when the photo was taken. Possibly this one??? Not all sales show up on the sold price lists though so, if it was this one at auction, the sale price may be missing.
    http://www.rightmove.co.uk/house-prices/detail.html?country=england&locationIdentifier=POSTCODE^761602&searchLocation=SE27+9TJ&outcode=SE27&incode=9TJ&year=30&originalIncode=9TJ
    The same flat was also sold with a new lease according to the link to the original sale listing.
    'Your' one looks to be flat 30 which was last sold in 2003 and I'm guessing a private sale so less likely to budge much on price unless they have motivation to move on.

  • Not 100% sure I believe him - check! Council will know. Try housing department or building control.

    Should have posted this before.

    Property Bee. Genius. Firstly you need the firefox browser. download the property bee plug in that basically gives you extra info when you use rightmove.

    It records all changes (new listing, price change, text change etc) to rightmove data BUT ONLY WHEN SOMEONE WHO USES PROPERTY BEE SEARCHES AND MAYBE EVEN CLICKS ON PROPERTY, and shows them on rightmove alongside the property. It is rather brilliant. Therefore when a property is listed property bee does not know. But when someone who uses property bee searches it does. Therefore first listed on xx date is the latest it could have come on the market - it may have been on for ages before that. If you regularly search a single area over a year you can start to really rely on the info shown!

    http://www.property-bee.com/

    Just downloaded this. Pretty handy.

  • The one in Hither Green Lane looks (from what I can gather from street view) to be above a shop. If it's the one I think it is, and I'm guessing from the lounge photo, it's next door to a restaurant and could equally end up being above one at a later date.
    I would avoid this one for many reasons.

  • The other one is in a LA block and, judging by sales activity over the years, could be one of very few privately owned.
    On the plus side there's no lift so no nasty bills for that and the rear of the block looks more attractive than the front.

    The lack of interior pictures suggests the interior is likely to be as appealing as the exterior of the other flat which was similarly lacking that detail.
    I reckon, depending on condition, it want to be a fair bit cheaper than the asking price.

  • Hmm, that all makes sense. I think those are off the list then...

  • The second one was built by fish. It probably has damp problems.

  • We have two lifts in our block- swing door type, very small- think roughly the size of a telephone booth inside, maybe slightly smaller.

    The managing agent has said that they need to be upgraded, at the cost of 90K plus VAT.

    Apparently there is a second option of a basic upgrade which will be 60K plus VAT.

    It's a fucking box on a cable, with some basic electronics to make a winch start and stop.

    Can anyone advise on what sort of costs are reasonable for this?

    One lift serves 3 floors, the other 4 (building is on a slope).

  • Plus 25K to fix rusty balcony railings- which we've already fucking done on our balcony, but will pay for anyway.

    And 35K for lighting and electrical upgrades, and 10K for fire safety.

    Bollocks.

  • The vast majority will obviously be labour charges.

    I'm presuming that it's leasehold? If this is the case, then the managing agent can choose pretty much whoever they want to undertake the works.

    Are there any local authority tenants in the building? Be sure to find out what the split of costs will be and what the difference in costs will be.

  • It's a fucking box on a cable, with some basic electronics to make a winch start and stop.

    Elija Otis will be turning in his grave!

    I've been working alongside the lift trade for many years so know a fair bit about the industry although I'm not involved at the sharp end of the cost of new equipment.
    The new lift side of the industry has got cheaper due to the effects of modern mass production techniques plus an influx of cheaper lifts sourced from overseas but it sounds like your telephone box on string will need a bespoke replacement made specifically to fit the exisiting lift shaft rather than a new build where lift shafts are built to British Standard sizes for given lift capacities and a cheap package lift can be easily sourced to fit.

    Has the managing agent used a consultant and put the job out to tender to at least 3 companies? They may have just got a budget cost from a consultant at this stage.

    I was involved in the renewal recently of all the lifts in an old mansions block in Streatham. The lifts were really small. This actually made a lot of the work much harder due to the limited workspace. Smaller isn't always cheaper.

  • Valid points I guess, I'm just annoyed as I don't use the lifts, we've fixed our balcony, and have never had problems with the cabling.

    Heh ho, what can you do.

  • £5,000 that I could have spent on bikes

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Owning your own home

Posted by Avatar for Hobo @Hobo

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