Owning your own home

Posted on
Page
of 2,492
First Prev
/ 2,492
Last Next
  • Best in mind that you can amend anything in the lease when you buy the freehold, but you won't be able to do that without the agreement of the other freeholders.

  • This is why sinking funds exist, I suppose. Any way you can introduce that concept and accumulate funds to do the job properly in the next 5 years or so?

  • Looking at the pricing history of this place, and that no one else is looking at it this weekend, what do we think that says about the current price?

    https://www.zoopla.co.uk/for-sale/details/51458948?search_identifier=9c9a2c76f92ea1b5fdcc69cadaf5ada6

  • So... anyone recommend a solicitor and surveyor in North London for purchasing freehold?

    My house costs are going to wipe me out... but it's all good, all that will be done in the next 6 months will buy 20-30 years of peace of mind.

  • what do we think that says about the current price?

    Massively over-optimistic... but also been on the market 18 months so sellers are not motivated to sell so may have emotional attachment and not really want to sell.

  • Currently in the process of purchasing freehold on my flat. I wouldn't recommend the surveyor we used (in north london) but I would recommend the solicitor we are using (and was recommended to me on here), thou he's not in North London.

    I was recommended Mari Knowles by @BleakRefs but she was unavailable so passed me onto Matt Hollamby, who's been super helpful and very prompt. https://www.commonholdandleaseholdexperts.co.uk/experts

    Is the loft included in your lease demise? If not, the development value could add alot to the freehold purchase even if the ground rent is 0.

  • Is the loft included in your lease demise? If not, the development value could add alot to the freehold purchase even if the ground rent is 0.

    It is not... it's just listed as communal joists and roof. Both the upstairs and downstairs flats would have an easier path to extension but neither of us plan to right now.

  • AFAIK, the freehold wouldn't be sold without the loft, so the freeholder will want the development value for it, regardless of whether the leaseholders want to add it to their lease or not.

  • You're thinking of doing a loft conversion in the future?

    All or most of the roof will probably come off anyway during a conversion so it's a good time to replace it. If you're likely to do it soonish, I probably wouldn't replace the whole roof now only to take it off again then.

    Obviously this depends on the correct value of "soonish" and whether the battens etc. are likely to survive that long with just patch repairs on top.

  • You're thinking of doing a loft conversion in the future?

    A while ago I thought I had a choice: loft or kitchen. I don't need the loft, and the kitchen turned out to be a fire risk due to bad electrics and boiler... so kitchen won and now I've no intent to do loft ever.

    The roof though, needs impending work in the "large job but temporary" nature or "full re-tiling"... I don't have funds to do a conversion so can't consider it... and once the roof is done it's going to be off the table for good as there will be no funds.

    Some battens are already broken, hence this not being a minor patch up.

    And I'm mortgaged too high to obtain a second mortgage to cover works... so ho hum. A roof will go on credit card, which I can just about manage.

  • Isn’t it a bet on the government’s Green Belt policy, ultimately? Seems ripe for a fairly high density Barratt estate.

    Hard to tell from the map whether the motorway is close enough to be bothersome.

  • Had a look and it's hard to tell. There are some triangular shaped jobbas over the top which I'd assume are cowls but whether there are caps as well I can't really tell.

    @Brommers I suspect those are both possibilities as well. I was thinking the capping was more likely as the damp appears to start at ground level whereas if it was leaking through I'd expect to see damp upstairs too.

    Need to try and work out the easiest way to find out.

  • Anna Favre at Cripps Pemberton Greenish knows her stuff, as do her team. Not cheap, but we tried cheap before and had to sack them as they were so bad. We used Michael Lee to do our valuation and he was excellent.

  • It says to me that no-one who wants to live in semi-isolation also wants to be in the middle of a terrace of three and pay 7-800k for the privilege.

  • The owners of the place we're buying want to exchange ASAP so they can reunite in their new country. The estate agent is seemingly suggesting they want us to exchange on the house, before our buyer and us exchange on our flat sale.

    Is this even possible? It seems very unadvisable from my perspective and carries huge risk.
    Our buyer is stuck waiting on searches and with slow solicitors and our sellers want to exchange.. end of next week latest.

  • For context my roof breakdown costs were:

    Scaffolding £1,450 (3 storeys)
    Replacing the 2 roof elevations £6,300 (8.5m x 4.3m & 3m x 1.7m & Bay Window)
    Coating the flat roof £500 (3m x 3m)
    30 new coping stones and lead flashing £740
    Guttering and fascia boards £460
    Loft insulation Rockwool and insulation boarding £1,000
    Changing of a joist on lower roof £1,000

    Total £10,950

  • who wouldn't want to be the 'unique and quirky' patty in a terraced middle of nowhere burger

  • Possible to do. But deeply, deeply unwise.

  • Thought so, will tell them to do one.

    The email was with the new memo of sale confirming the new agreed price, and stating 'exchange this week, or latest w/c 12th' - even though they spoke to our estate agents who told them the searches weren't back yet.

  • For context my roof breakdown costs were

    I'll take two.

    Would you recommend your roofer? Are they good for Crouch End work?

  • Send me a PM. I have roofer reccos.

  • It's possible if you have loads of spare money and would and could still happily buy the new place even if your old place didn't sell.

    Otherwise it's a terrible idea.

  • It says to me that no-one who wants to live in semi-isolation also wants to be in the middle of a terrace of three and pay 7-800k for the privilege.

    That's demonstrably true due to it still being for sale. I'd put up with neighbours at the right price though, and pending an examination of the lease situation.

    600k? 650?

  • I 100% agree that the money they want at the moment means (in that area) detached:


    1 Attachment

    • Screenshot 2020-10-06 at 14.00.24.png
  • Post a reply
    • Bold
    • Italics
    • Link
    • Image
    • List
    • Quote
    • code
    • Preview
About

Owning your own home

Posted by Avatar for Hobo @Hobo

Actions