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Buying a property - what would you do?

Hotshot-Tottenham said:
I like a bit of both!

Where I am now I’ll often pop out at weekends to walkable places for coffee and shopping.

But, I don’t really go out drinking often at all, I only go for the occasional weekends away to meet old friends, and I do work from home so would be spending a lot of time there, and tbh I just like to relax, listening to music or reading, so having a nice(r) environment for that is important to me.

(Hence I love the built-in bookshelf around one of the doorways in Op 1).

I do try to run in the evenings so both areas are fine for that, and to exercise at the weekend - so the balcony would be great for that.
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Anything cosmetic or aesthetic should be way down your tick box list..that can all be added after...to your specification as well.

I must confess....I'm a sucker for a period property 😎
 
ricky2tricky4city said:
Based on the information you've given so far....
• If you work from home a lot, the feel and layout (or potential layout) of your home is important.... you'll be spending a lot of time there. Take a compass...a north facing flat is brick. Good light is your friend
•your surrounding community is important as well (you'll be spending a lot of time there:)). Is there a potential network of coffee shops , cafes, bars, parks...not to socialise BUT to get out the house and work from. Cabin fever is a homeworking problem. Plus the usual, doctors , dentists etc.
•with that in mind it is nice to live somewhere that doesn't require getting in the car all the time. Parking is brick and generally costly. I walk but oftentimes get the bike out (increases the range of journeys). Is that an option?
•also that can delay the need (and cost) to get a car straight away. Weigh up your options first. Is there Zipcar in the town? for short term rentals ...
(Sublet your garage;)£)
•Any flat you view ....first thing, check the phone signal...needs to be solid.
•check internet options...fftp fibre etc
•If your a non chain buyer with a mortgage approved (in principle) leverage that position...in most areas it's a buyers market at the moment. I think Zoopla have a listing timeline so you can see how long a property has been on and if and when it's been reduced (I think PropertyLog iirc is a desktop extension that does the same with Rightmove).
•as someone else said try and assess the neighbours.
•heart, head and gut are your decision making tools try and balance them accordingly..NEVER be too emotional or volunteer anything you don't need to to the estate agent... they're all clams.
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Thank you for all that, very thoughtful! I will check that PropertyLog extension, thanks.

I will be non-chain, with deposit and mortgage in principle. I'll probably have to rent short term as I need to be out of here by the end of May.

Heart says option 1, head and gut say 2.

1 really is lovely inside, good space, high ceilings, nice layout, but the location isn't as good, it's more expensive and no outside space.
 
ricky2tricky4city said:
Anything cosmetic or aesthetic should be way down your tick box list..that can all be added after...to your specification as well.

I must confess....I'm a sucker for a period property 😎
Click to expand...

Yeah, I'm in a period place now and you get used to the looks.

Option 1 wouldn't need much at all, some pretty minor cosmetic stuff to a couple of kitchen and bathroom unit doors - stuff I didn't even notice on the first viewing. It's good to go.

As is option 2, perfectly livable by the look of the pics, but I would want to make changes over time.
 
monkeybarry said:
Op 1:
Check out the windows - are they new? Or old sash windows? The latter will be drafty. And probably need replacing.

It's ground floor - how do you feel about noise from above?

Leasehold

Op 2:
The colour scheme suggests ex rental. So have a really good look for any tenant bodge job bits.

Balcony. Newer built, but still old enough to be built of proper materials.

Share of Freehold! Nice. That's a load of future admin headaches dealt with.


Based on the adverts - option 2 by a mile.
Option 1 is and fine.
Option 2 - I got a little excited looking at it!
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Op 1 - yes, the windows have been done; double-glazed sashes. It's first floor, so just one floor above - but yes, noise from above is a risk. The lease is very long, so I guess that in itself shouldn't be an issue - won't need renewing unless Elon Musk discovers some immortality tech :D Risk of service charge increases I suppose.

Op 2 - good point, I'll check that. Looking at the pics again I feel the carpet is pretty dark, so would want to change that at some point, along w the bathroom. Don't love the kitchen but it's fine. And I'm just imaging the balcony with a load of trailing and climbing flowers around the railing in the summer, re-stained decking, nice 'garden' furniture and a parasol :D

Don't gazump me!
 
johnola said:
Just doubling down on noise it looks like one place allows wooden floors- nah - is that really allowed and does the flat above you have wooden floors? Will be like living in a tin box.
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Yes, good question - I'll check with the agent.

I've only been in there a couple of times for 25 mins at a time on a Saturday, but didn't hear anything from above. Of course not to say it'll sound like a stampede of elephants come the evening.
 
Mikey10 said:
Option 1 has the better finish, but I'd be tempted to go Option 2. It's a better area (Boscombe can be dodgy), you're still not far from the beach, and you've got lovely shops and restaurants in Ashley Cross, Lilliput, Canford Cliffs and Parkstone close by.

The balcony is a winner too! And a garage could be very useful (for storing crap in, like everyone does.)
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Yes, I'd avoid Boscombe for sure... I wouldn't be going out and turning left at all. Turn right and you're right at Eastcliff - nice for running.

I did go into Bournemouth town centre and my word, has that deteriorated since my youth down there. Maybe it's a bit of age, and rose-tinted memories, but I'm sure it wasn't like that. Looks like years of under-funding have taken their toll. Very, very tired and shabby. So wouldn't be spending much time there!

Ashley Cross is lovely, and so close. Definitely a winner in terms of location.
 
Muttley said:
Are both properties with the same agency? What precludes you from putting in an offer on both properties? Everything you've told us so far could change the moment that first offer goes in.

Seems like you're in a strong position because you can go to both asking prices, so I wouldn't lose sight of that. You don't have a right choice and a wrong choice. You have 2 right choices.

I think the guys have all given you amazing advice and probably the best bit is armed with all these different thought processes, only you can decide.

The only thing I might add is perhaps understand (if possible) how many owners live around the 2 places versus tenants of buy-to-let landlords. Ideally you want to be around home-owners who really care about their properties. There are good and bad homeowners, good and bad tenants and good and bad landlords. If you play the numbers game, it's still best to be around neighbours that want a home, not just bricks and mortar or people that might be just passing through.
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Thank you, food for thought there.

Yes, different agents so I could bid on both. And having two right choices is a nice way to frame it, I like that.

Interesting point about bought vs let properties. Of course everyone's different, but yes - something to consider. I know option 2 doesn't allow holiday lets / AirBnB.

Thank you for that - thought-provoking.
 
Hotshot-Tottenham said:
Op 1 - yes, the windows have been done; double-glazed sashes. It's first floor, so just one floor above - but yes, noise from above is a risk. The lease is very long, so I guess that in itself shouldn't be an issue - won't need renewing unless Elon Musk discovers some immortality tech :D Risk of service charge increases I suppose.

Op 2 - good point, I'll check that. Looking at the pics again I feel the carpet is pretty dark, so would want to change that at some point, along w the bathroom. Don't love the kitchen but it's fine. And I'm just imaging the balcony with a load of trailing and climbing flowers around the railing in the summer, re-stained decking, nice 'garden' furniture and a parasol :D

Don't gazump me!
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Lease length - how long is "very long"?

Service charge - you'll have a service charge in both scenarios. You'll just have the freedom to instruct managing agents (as part of the board of Freeholders) / make decisions re; the management of the building.

You'll have ground rent on Opt1 - although if the lease is "very long", it suggests the extension has already been done, so it might be peppercorn.
What is it? Remember if it hits £300 p/a, or has RPI clauses or regular increases/doubling, it will impact mortgage options.

Ground rent doesn't apply to Opt 2 if it actually is Share of Freehold. (I'd strongly suggest getting the agent to check that. I've seen agents put that when it isn't true as a sales technique. Or, to give benefit of the doubt - they might just be brick. Either way, they are estate agents.)

Any no worries re; gazumping.
I brought my place in Norwich in December, and I've got a kitchen, bathroom and lease extension to fund at some point!
So I'm basically skint. AKA, a new homeowner!
 
monkeybarry said:
Lease length - how long is "very long"?

Service charge - you'll have a service charge in both scenarios. You'll just have the freedom to instruct managing agents (as part of the board of Freeholders) / make decisions re; the management of the building.

You'll have ground rent on Opt1 - although if the lease is "very long", it suggests the extension has already been done, so it might be peppercorn.
What is it? Remember if it hits £300 p/a, or has RPI clauses or regular increases/doubling, it will impact mortgage options.

Ground rent doesn't apply to Opt 2 if it actually is Share of Freehold. (I'd strongly suggest getting the agent to check that. I've seen agents put that when it isn't true as a sales technique. Or, to give benefit of the doubt - they might just be brick. Either way, they are estate agents.)

Any no worries re; gazumping.
I brought my place in Norwich in December, and I've got a kitchen, bathroom and lease extension to fund at some point!
So I'm basically skint. AKA, a new homeowner!
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On Op1 on the lease length is 974 years and no ground rent according to the particulars. Service charge is £2k p/a.

For Op2, I'll check w the agent but does say share of freehold. I have a family friend that lives in the next block so going to speak w him and get his feedback. Service charge there is £1,300 p/a.

Congrats on your new place... must be nice to be in and to be able to start on the plans you want!
 
Hotshot-Tottenham said:
On Op1 on the lease length is 974 years and no ground rent according to the particulars. Service charge is £2k p/a.

For Op2, I'll check w the agent but does say share of freehold. I have a family friend that lives in the next block so going to speak w him and get his feedback. Service charge there is £1,300 p/a.

Congrats on your new place... must be nice to be in and to be able to start on the plans you want!
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Sweet, both sound pretty hassle free.
That also suggests they are generally well managed - which is always a good sign.

Cheers. I brought it from my landlord, so it was the easiest move ever! Now I get to make it really mine
 
Hotshot-Tottenham said:
Yes, good question - I'll check with the agent.

I've only been in there a couple of times for 25 mins at a time on a Saturday, but didn't hear anything from above. Of course not to say it'll sound like a stampede of elephants come the evening.
Click to expand...

Yes- all you can do - question if there are any restrictions and are they policed/enforced.
 
monkeybarry said:
Op 1:
Check out the windows - are they new? Or old sash windows? The latter will be drafty. And probably need replacing.

It's ground floor - how do you feel about noise from above?

Leasehold

Op 2:
The colour scheme suggests ex rental. So have a really good look for any tenant bodge job bits.

Balcony. Newer built, but still old enough to be built of proper materials.

Share of Freehold! Nice. That's a load of future admin headaches dealt with.


Based on the adverts - option 2 by a mile.
Option 1 is and fine.
Option 2 - I got a little excited looking at it!
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The windows in the bay window dining area look double glazed to me. They have been replaced at some point.

I'd go Op1. Don't buy near water.
 
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