Which of these flats would you buy? Elec heating...

[TremoloGreen]

Flat 1
Small-ish (60m2)
Small private outside space - just big enough to stand out and barbeque
Own parking space
OK size communal garden
Slightly rubbish small kitchen contiguous with sitting room
990 year lease
Just over ten years old
Finishing OK, but laminate floor, cheaper bathroom tiles etc
On one of the most 'desirable' streets in the area near the station and the poncey organic shops and a conservation area
Gas central heating, double-glazed etc

Flat 2
Bigger - very good size sitting room, slightly bigger bedrooms
No private outside space
No parking
Good size communal garden with bicycle shed (we both cycle)
Small but separate kitchen, better design/layout
125 year lease
Brand new (with NHBC warranties)
Finished to a high standard
Good location but slightly further from station etc, near a playing field
Electric central heating double glazed

Both are ~£ 250k, 2 bedroom, 2 bathroom

Having a rubbish time trying to buy at the moment, have had two properties fall through - getting very depressed living in temporary accommodation etc. I would really appreciate some help!!

I guess I really prefer Flat 2... but I'm really not sure about electric heating (and hob). Would this really put people off when we come to sell? Would it really keep the flat warm enough? Would it be prohibitively expensive? Gah.

should have fewer problems

I'm still at work. Need sleeeep.

Sorry to be nosey but how does that work that you can't afford to rent a flat but you can afford to buy?

If it wasn't for the strange sounding situation I'd be saying wait a bit longer. Commerical property prices are suddenly dropping in London and there is more talk about whether this will feed through to residential. Most important right now is to think about what will happen if your flat has lost equity in 4ish years as it sounds like that is about how long you want to stay there and if interest rates are higher and new taxes are brought in on letting out property (it's got to happen sooner or later I'd have thought).

Renting in London is a lot more expensive (40-50% more) than paying a mortgage at the moment. We are currently paying £650pcm for one room in a shared flat. I could in theory afford it, but I'd be throwing my money away and not saving anything so I can pay someone else's mortgage. We had to move out of the place we were renting because the landlord put the rent up by 30%!

I hear what you're saying though. We're quite close to giving up anyway having already lost a lot of money on places not going through.

flat 1 for me, nice to have outside space albeit small but ok to sit out, hang your washing out etc. Plus I hate all electric, especially for hob cooking.

Are you sure that you will rent it out and not sale it?
New modern flats are easy to rent out (especially the one near st) but not easy to sell usually.

Another thing is don't forget to add the service charge into your calculations (whether you live in or you let it out), as it is usually high in modern flats.