What would you value this flat at?

[Alexalee]

Just that really

www.rightmove.co.uk/s6p/71559043

www.rightmove.co.uk/s6p/71559043

Tbh you'd be better off asking if anyone local would pay that amount.
House prices are dependent on area. I live just 35 miles from the Scottish border in the north west and for that price you would get a gorgeous 4/5 bed detached house .

Doesn't really matter what a random person off mn thinks its worth it's really depends on 3 things;

What you think it's worth if you are buying it
What you will take if you are selling it
What a surveyor thinks it's worth if you are getting a mortgage on it

Everything else is immaterial.

Whyteleafe is quite a posh area isn't it? Check to see what similar places have sold for recently.

There are so many flats available in that area you have a huge choice. It doesn’t look as good as some of the others for sale and the block is ugly. Ditto the patio. The trees behind will make it dark in the future. I wouldn’t buy it.

If you look at similar properties for sale now or recently sold it looks very overpriced. I wouldn't be offering over 260 for it. Considering it sold for more than that in 2016 its unlikely the owner would accept that offer though.

That is tiny for a 2 bed! Sub 600 shouldn;t be sold as a 2 bed IMO.

Overpriced

There is a larger top floor flat, with better layout, on for 40k less. OK no outside space and not as nicely 'done' but that is no worth 40k.

Thanks bubbles karma and blue skies. my thoughts were also overpriced based on the flats for sale in the immediate area. but it does have a garden which many others dont. Directly behind those trees is a trainline so the trees shelter some noise.
My thoughts were also less than they paid in 2016 so probably no deal to be done, maybe 275k tops

Why is it called a maisonette? Isn't that a flat with two floor?

Several major banks / IT companies have set up shop around South Croydon or within easy access of Croydon and it doesn’t seem out of step with what I would expect (or what my colleagues have paid) considering it’s location to the train station

A private garden really bumps up the price. But being the train tracks isn't great. And yes, the flat is very small for a 2-bed. There isn't enough space for a dining table in the flat unless you use it as a one bed.

Do you not like any others in the area? Are you dead set on Whyteleafe?

How much is the tiny garden next to a railway line worth in that area?
this one has garaging, bigger rooms, views over the valley, is nearby but no private outside space and is on for 40K less.
I think they overpaid in 2017, and all the lovely fittings will have 2 years wear and tear on them now.
But...it's an expensive and desirable area so as I'm not an estate agent I can't guess what's reasonable.

It's so area dependent. My 3 bed house is valued at £65k for comparison so I'd expect to pay £45 to £50k for a flat of a similar standard. But that's meaningless somewhere else.

I don't think its particularly out of step with prices in the area. I'd say that garden, and the proximity to the station will both add significant value.

In reality, its up to the seller to price it at around what they will accept. If they can't get that price they have the choice to lower the price or stay put.

As a buyer you have the option to put in an offer at around the price wanted, try a much lower offer (and expect to get rejected) or move on and find something else that you consider better value.

I know that the market in this area is definitely stagnating due to the economic uncertainty at the moment, but I think some buyers are quite unrealistic about what they can get for their money. If you don't think that property is worth what is being asked, move on and find one that you think is!

No interest in buying it, just wondered others opinions on its price being oieo 300 when the 5 other flats on the same development are 260 260 262 262 and 270 and all are bigger. Does the garden flanked by a railway line make over 40k difference.
And over 500/ft2 is not achievable in the area.
Interesting some people say whyteleafe is quite a posh area, I would say it is the least posh out of the surrounding areas of kenley Caterham and purley

I've just googled what premium is attached to a flat with a garden and it seems 10-15%. So if the flat itself is smaller than others, say worth 250k, then the garden bumps it up to 275k-288k.

@JoJoSM2 is that nationally or in London?

This property is London outskirts, and I think the premium for a garden in London is probably more than national average.

@Alexalee if you are not interested in buying it, what does it matter what price it is on for? Some sellers are delusional about the value of their property, some buyers are delusional about what they can expect for their money. It doesn't really matter, unless you own or want to own the property, does it?

I've been looking at flats around that price 10 miles further into London (with a friend) and this is much bigger and it is rare to have a private garden. It's also close to 3 stations which is a bonus. However, it is quite expensive for Whyteleafe.

10 miles further in would be an enormously different market. probably zone 2, this is zone 6.
I don't think you could get a 2 bed under 600ft2, obviously you can
Just intrigued mrsm, used to live in the area and it seemed oddly priced

It is certainly very nice. I think the price is right for a place of that size, with a garden, in that area.

@mrsm43s Yes, the stats about garden premiums I have found are for London.

@BernadetteRostankowskiWolowitz -Most maisonettes are on two floors, but the main criteria over a flat is that a maisonettes must have its own front door to the street (ie - not communal access).

😮

Unless that were somewhere close to a good city center (Manchester, London, Bristol etc), no way would I be paying so much for so little space, so little kerb appeal, backing onto a railway (effectively making the garden useless for the noise and chemical pollution and lack of privacy). That’s insane!

It's ex-LA by the look and style, which will have an effect on the price.

It's kind of not really one or t'other to me, which also affects who will buy for what £.

It's not a family home, but it doesn't really scream young professionals either.

Which kind of leaves me with retirees or first homers. And then you have the stamp duty threshold, which this exceeds, so the ftbs will go.

So on that basis I'd say downsizing retirees but it would need to start with a 2 - maybe £275-285k because of the postcode?

(My first flat was essentially the same - 2 bed ex council in a low block, so I'm not knocking it!)

@7salmonswimming London. And that's pretty cheap for being in a travelcard zone.