What is wrong with this flat?

[Danni677]

www.rightmove.co.uk/properties/93970370

This ticks all my boxes. It is a reasonable price for the area but has been on since Jan. just wondered if I’m missing something?

It’s a fairly busy road but that’s ok.

Thinking of booking a viewing but don’t want to waste people’s time if there’s something obvious I have missed.

Short freehold?

The EPC isn’t very good and the road is busy. Apart from that it looks amazing so I would definitely view it.
The reason it’s been on since January may have been that it was overpriced to begin with so it needed to be reduced to get an offer. Discuss it with the agent at the viewing

🙄

Aside from the not so stealth brag, it has a tiny Iiving area for three bedrooms.

Kitchen and lounge are the same room
One bedroom has been split in half to make two small bedrooms
Like all loft rooms, the loft room doesn't have proper windows

It would make a lovely 1-bed :)

Also it may have high service charges as many flats in Central London do - I would ask about this before booking a viewing plus length of lease

You can't have a short freehold - it's the exact opposite of a lease. As it's a freehold there might be some big bills coming up though for building maintenance - those stucco buildings in Maida Vale take a lot of looking after - so check that out.

The cooking/ dining / living area looks more suited to a 1 bedroom flat, maybe that's it?

I reckon leasehold issue (short) and / or expensive fees

Agree the living area is small for a 3 bed. In an area like that it would probably be better to turn one of the bedrooms into a kitchen and have a bigger living room. People will pay that price for a lovely and well balanced 2 bed in that area

Bragging that you could afford it

I think that it would make a lovely 2 bedroomed flat.

I think the proportions are odd. It should be 2 beds with bigger living area. I'm not sure who the target market for 3 bedrooms is.

It's probably over priced if still on market!

Am ok with all of these, I think. The bedrooms seem ok sizes for the area (have seen much worse!) Agree about the lack of windows at the top though.

Will ask about charges. Thank you, all.

It’s share of freehold so there won’t be issues with the lease or maintenance charges.

How is OP bragging they can afford it? They can afford it that’s just the reality of people being able to afford different amounts when buying property

Agree with others it’s a lovely two bed flat. But it’s very small and certainly couldn’t accommodate having both bedrooms occupied with people.

Looks like it's £2.2m for a really decent 3-bed in that location:

www.rightmove.co.uk/properties/113650676#/?channel=RES_BUY
www.rightmove.co.uk/properties/124507916#/?channel=RES_BUY

There absolutely will be an issue with maintenance charges with a freehold! You still have to pay your share of works that need doing it's just not collected necessarily via a monthly charge - which can be worse as you may get landed with a big bill out of the blue.

Perfectly legitimate question for a thread. Ignore all the tedious comments about bragging.

Share of freehold flats still have to pay management fees and could potentially still have short leases although the second one is unlikely. Share of freehold is not the same as freehold.

I bet it's bloody boiling. The communal area is tiny. You can't stand up in the master bedroom. Look at the bed - you can't even sit up in bed or get out of bed without cracking your head.

No direct access to garden.

Top floor/eaves flats are always cheaper. Check length of lease and service charges too as both can have an impact on price.

The flats with direct access to the communal garden are £1m more!

Well the costs could still be very high but at least you know they are fairly costed.

I have share of freehold for my flat (one of 26) but certain stuff still needs to be done and paid for and individual leaseholders can't object (but can demand their own contractor quotes)