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Ex-council redbrick or high-rise which can be a better investment?

(6 Posts)
cherryrose Sun 24-Apr-16 09:55:55

i am a first time buyer interested in 2 properties in battersea, both near nine elms and Battersea power station. I prefer the ex-council flat as it is very large and spacious but on 12th floor of a 20 story block. The redbrick flat is on 3rd floor of 4 story block, it is a nice flat but very small. The high rise flat is nearly double the size of the red brick. Does anyone have experience with buying ex-council properties? can you advise which will be a better investment. I am looking into ex-council because i cannot afford other types of property in the area. any advise will be appreciated.
Thanks

apple1992 Sun 24-Apr-16 09:57:52

It can be hard to get a mortgage on high rise/ex-council, I know a few friends who struggled

WordGetsAround Sun 24-Apr-16 09:59:25

When we had this decision in Westminster we went for the redbrick ex-council flat and absolutely loved living there for 5 years. As you are going to be living in it, it is not just an 'investment', so go for where you'll be happiest and have a better quality of life.

Sadly had to move out of SW1 when we had children as we couldn't afford it but have very happy memories!

allegretto Sun 24-Apr-16 10:00:30

Go for where you feel happiest - personally I couldn't live on the 12th floor. I recently went to see a 7th floor flat and felt dizzy!

Turbinaria Sun 24-Apr-16 15:35:16

Services and maintenance charges can be very high for ex LA properties so check it out with the council before u buy

Chloe94 Sun 24-Apr-16 20:19:28

I am now about to complete on an ex council property, it is a house but in our price range there was not one house that was bigger or had more space, this house was bigger and better in every way and I got way more space! I lived in a first floor council flat before although it was more of a maisonette and I rented it from the council but it was brilliant loads of space and light and if there was any problems (there never were) there were housing officers on sight that would sort it and I guess you would have that too! I'd go council any day, as me and dh say, you can buy a house on a lovely street but your neighbor could just as easily be a family on benefits as it would in a council area x

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