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Original poster

One bed flat

56 replies

Lazingonasunnyafternoon20 · 04/05/2020 19:24

At some point, in the future, I would like to buy a one bed flat in London. Due to my budget, it would have to be a doer upper of sorts - nothing structural.

What kind of budget would you set for

kitchen

  • units
-appliances -flooring

Hall
-flooring

Living room

  • floor

Bedroom
-floor

Bathroom
-new units
-floor
-taps

  • bath, sink and toilet

The rest I think I can work out but I would like to know what kind of budget I could set myself.

Thanks

OP posts:
Smallgoon · 04/05/2020 19:31

a 1 bed flat where....?

peachesancream · 04/05/2020 19:35

Depends on spec you want, could squeeze it for £30k much more likely to be higher

NotSuchASmugMarriedNow1 · 04/05/2020 19:36

Kitchen 10k
flooring 2k
bathroom 4k

Original poster
Lazingonasunnyafternoon20 · 04/05/2020 19:54

Thanks for replies!

so, I'm in London zone 3/4
I was looking for a finish that is decent - not the absolute bottom of the range but nothing fancy. I can add some nicer pieces in with furnishings just costing for the actual basic interior atm.

@NotSuchASmugMarriedNow1

Thank you - any way to bring that kitchen cost down?

OP posts:
Veterinari · 04/05/2020 20:21

IKEA kitchens or DIY kitchens are cheaper - probs 4-8k including fitting depends on size and finish

Don't forget to add in tiling costs OP
I'd say you could probs do it all for 15-20k depending on size and finish

Smallgoon · 04/05/2020 20:34

How large is the kitchen? I was quoted roughly £4.5k by Howdens for my kitchen - I've included a mock up of the design. It's a fairly smallish L-shaped kitchen, but you can deffo get the price down. Though this obviously didn't include appliances. I got a similarly priced quote from Ikea but that included appliances. Bear in mind you'd probably pay around £1-2k for installation.

One bed flat
Original poster
Lazingonasunnyafternoon20 · 04/05/2020 20:44

Thanks @Smallgoon I think that is a really good price £4.5 for a kitchen like that.

@Veterinari yes to tiling, too and things like windows/windowsills that might need replacing.

My ideal would be something that just needs modernising and I would invest most of the money then in a nice kitchen and bathroom once walls have been painted and new floor/flooring down.

I'm also happy to salvage, refurbish and drag in tradesmen members of family to do bits. Sister can tile, I'm handy with a drill and paint.

OP posts:
Smallgoon · 04/05/2020 20:48

well if you're quite hands on yourself, and can reel in some more help from family, you should manage to get costs down. Just be mindful that it will obviously take longer than hiring in the professionals.
Have you started looking at places out of interest?

Original poster
Lazingonasunnyafternoon20 · 04/05/2020 21:10

@Smallgoon

I'm looking at auction properties online and rightmove just to get an idea of price, etc for different areas.I trt and imagine what I would do with a property if I had it and have been costing up loft extensions, extending in to gardens - allsorts of things you could do to add value and space to a flat.

Ideally I'd go for a ground floor in a terrace. options are there to use the garden space (or just make the most of it) and I think with a lot of those properties its about getting a fresh, clean look. I'm not fussed about the quality of furnishings for my own use but I would want to know that I had really cleaned it out beforehand, painted the walls, new skirting, etc if necessary.

If anyone would like to join me in my fantasy game of 'what would I do' please so! I have seen some crackers of places online. I have even looked further out Plumstead/ Erith way as the gardens there can be huge and there is investment in the area due to the line extension.

Alternatively, Deptford and New Cross are options as there is talk of a Bakerloo extension tehre, too and they are areas I know.

OP posts:
Original poster
Lazingonasunnyafternoon20 · 04/05/2020 21:18

For example - this little beauty which has space - it just looks as though it is badly laid used.

www.rightmove.co.uk/property-for-sale/property-67696863.html

OP posts:
Original poster
Lazingonasunnyafternoon20 · 04/05/2020 21:21

Or this treasure

www.rightmove.co.uk/property-for-sale/property-78663973.html

OP posts:
OP posts:
Smallgoon · 04/05/2020 21:28

I'm surprised by how cheap those properties are... makes me wonder what's wrong with them. The studio is very small though. They haven't provided a floorplan and given it's in Swiss Cottage, am guessing it literally is a shoe-box.

Are you planning on living in the property, or is it just an investment for you to do up and then sell?

OP posts:
RainbowMum11 · 04/05/2020 21:34

Loads of ways to bring that kitchen cost down - Ikea and Wickes, does really depend on the size and the spec that you are after.

Original poster
Lazingonasunnyafternoon20 · 04/05/2020 21:38

@Smallgoon

I 'd say for most of them, that addresses are not the most desirable areas.

The Swiss Cottage one is interesting - very near the tube. Part of me thinks that it is doable - when you are in an area like that sometimes all you want is a place to sleep. There is a similar size/price one in Hampstead.

It's for me to live in as I suspect this is the only way I can get on the ladder in London. If I buy something in this range and get it up to a decent standard over time, hopefully I will be able to sell and make something I can use to get a better flat location wise). I'm a Londoner and tried living away from here but for various reasons need to be here now.

It's actually quite grim that these are the only options save shared ownership. There are good bargains to be had at auction but I need a bank mortgage. Things look a lot better at the £230,000 mark but that is beyond my mortgage offer (max £150,000)

OP posts:
Snorkelface · 04/05/2020 21:39

Lease length very important on all of those. If it's too low it'll end up costing a lot more than whatever they go for at auction.

Original poster
Lazingonasunnyafternoon20 · 04/05/2020 21:42

@RainbowMum11

I think if the walls, skirting, windows and general aspect are all good a kitchen can look OK with some good colours and decor. Keeping things simple, clean lines, nice tiles, good quality worktop and flooring can all make the rest look good. Definitely an IKEA fan - as long as the walls and floor look clean, bright and fresh (plus appliances) I think you can go a long way.

OP posts:
Original poster
Lazingonasunnyafternoon20 · 04/05/2020 21:43

@Snorkelface

Yes, I heard no less than 80 years but am aiming for 100 min.

OP posts:
Mumdiva99 · 04/05/2020 21:44

The first property link has a different outside photo to inside phote....the front doors and windows don't line up. So that would be alarm bells.

Second property - the studio.....that's a half height mezzanine floor to sleep on.

I could go on. Remember with auction you must have seen it first. You must check it's mortgageable. Check the lease. Remember you are tied to buy it once you make a bid. And you have to put down the money slightly differently from regular purchasing...so make sure funds are available first.

Smallgoon · 04/05/2020 21:44

be mindful that a fair few of the flats in a decent part of London, priced ridiculously low, or being sold at auction, are usually geared towards cash buyers because the lease is dangerously low. Banks won't lend on a property if the lease has fallen below a certain point.

I grew up in east London so I know a few of the links you've provided are for the less desirable parts. I suppose you'd have to weigh up your options.

Is Help to buy an option for you? Or is this only offered on the pricier new builds?

Mumdiva99 · 04/05/2020 21:45

.....oh and the garden you love. ..that different gardens in the pictures. In one it's been ploughed and levelled, in another it's grass.....

Original poster
Lazingonasunnyafternoon20 · 04/05/2020 21:52

It's grim, all of it - I agree. When I see these pictures online and then children's toys in the room I feel so angry that some people are forced to live like that.

Am open to alternatives if you smart women can think of any. I did hear a suggestion that HTB might be extended to secondhand properties which woud be great. The other option is to wait and see if I can get promotions at work and move up the pay scae but realistically that is a way off.

Not looking to but within next 6 months anywhere so appreciate that everything is up in the air at the moment.

OP posts:
NotMyNigel · 04/05/2020 22:01

You have no budget for

Electrics
Plumbing
Heating
Decorating
Plastering
Tiling
Window converings
Shower

Smallgoon · 04/05/2020 22:01

though you could argue, that given there are fears the economy may tank, if you have a decent enough deposit, now could be a good time. I mean, give it a month or two and we'll know for sure if property prices will be affected.

Re HTB, the advantage is that that you could potentially just be paying off a 75% mortgage for 5 years, having only put down a 5% deposit. Is shared ownership an option for you? It wasn't one I wanted to consider for personal reasons but I read a thread on here recently where people that had used that option had really positive things to say about it.