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What is wrong with this flat?

251 replies

Danni677 · 18/07/2022 07:48

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.

OP posts:
BobMortimersPocketMeat · 18/07/2022 08:10

Things I can think of:

Top floor and attic, but no lift
Too little headroom in the bedrooms
Too little living space for a family needing three bedrooms
This flat occupies the attic so might be responsible for all the maintenance of the roof
High cost repairs are due

HippeePrincess · 18/07/2022 08:14

You can ask the estate agent, there was something similar in our area, it’s been on 8 months now and the reason is they can’t find anywhere to move to and they’re refusing to move to rented!

Decidualcast · 18/07/2022 08:15

We are looking at the same properties, it seems. Funny as I’ve been pondering the same. I know the road very well, and it’s gorgeous.

I don’t think service charge would explain why it’s been on for so long. The proportions aren’t great, and not enough yield for a letting perhaps. There’s another on (with loft conversion) Sutherland for less and done up, but tenanted. Not much is shifting from what I can tell.

Clymene · 18/07/2022 08:15

I'm sure the flats with direct access are much more expensive. Not surprising really!

I would find out what costs are. There may be commitments to redecorating the exterior and you will have to contribute to maintenance of the communal garden.

Twiglets1 · 18/07/2022 08:17

BobMortimersPocketMeat · 18/07/2022 08:10

Things I can think of:

Top floor and attic, but no lift
Too little headroom in the bedrooms
Too little living space for a family needing three bedrooms
This flat occupies the attic so might be responsible for all the maintenance of the roof
High cost repairs are due

My daughter lives in an attic flat but is only liable for 20% cost of roof repairs as the cost is split between 4 flats based on square footage. The ground floor flat pays more for every bill as they are the biggest flat. Although it is worth checking for this property, it is unlikely that someone would be liable for all roof repairs just because they happen to live in the attic flat.

TheClitterati · 18/07/2022 08:17

Someone had to pay for that private garden/park. I suspect high charges.

BlackAmericanoNoSugar · 18/07/2022 08:19

There's no mention of a lift so I assume you will have to carry your shopping up five flights of stairs. The loft bedroom will be incredibly hot in the summer, I wouldn't use it for the master bedroom anyway as the only bathroom is downstairs.

NightmareSlashDelightful · 18/07/2022 08:19

Well there must be something wrong with it, it's been on the market for months and was reduced in January.

Quite possibly a short lease, given that the listing doesn't tell you what it is (most of them do). Although Foxtons can often be very cagey about leases IME.

The square footage is smaller than my first flat, which was a one-bedroom.

The upper bedroom is very impractical, given the restricted ceiling height.

It's on a busy road, and a rat-run.

When things go wrong with those Georgian terraces, the bills are astronomical. If it's in a conservation area, or the buildings are protected, there may be major restrictions on (for example) window replacement or roof work.

There are two other flats for sale on the same road (albeit much bigger and more expensive) and another couple in similar buildings nearby. So I'm wondering if there's a big load of cross-property roof work been proposed or something, and some of the existing residents can't afford it.

There also seem to be a lot of registered businesses on that street. And I would imagine that there's something off-putting like other flats in the building being Airbnbs, or something like that.

In fact, thinking about it, I'm wondering if this flat was until recently an Airbnb, and the owner is getting shot of it. It's definitely styled like one.

Gnomechange · 18/07/2022 08:20

No lift would put me off. Most people wanting a three bed have kids and having no lift would put them off.

agree very small communal space.

generally, I like it though.

Twiglets1 · 18/07/2022 08:20

Decidualcast · 18/07/2022 08:15

We are looking at the same properties, it seems. Funny as I’ve been pondering the same. I know the road very well, and it’s gorgeous.

I don’t think service charge would explain why it’s been on for so long. The proportions aren’t great, and not enough yield for a letting perhaps. There’s another on (with loft conversion) Sutherland for less and done up, but tenanted. Not much is shifting from what I can tell.

The EPC would be unappealing for anyone looking to rent out this flat but less off putting for someone wanting to just live there. There are plans to say properties on the letting market must be able to achieve an EPC of C which with this flat seems unlikely.

Decidualcast · 18/07/2022 08:23

Good point re AirBnb. There was one reported in the media on this road.

I’d avoid lower ground ones as many were severely flooded last year.

All flats in the building would be liable for roof repairs. I have asked agent about this.

Minimalme · 18/07/2022 08:24

It could well have been under offer but the sale fell through - our house has been in since October but we've powered through three buyers since that time.

I think now is a good time to buy a flat - lots moved out of theirs after lockdown, wanting more space.

Whitehorsegirl · 18/07/2022 08:24

Over-priced & low ceiling in one of the bedrooms it seems.

Potential issues with lease and service charge?

Ignore the comment that says ''it is a share of freehold so there won't be issues with charges''. You still have to pay a service charge in that scenario.

A friend of mine lives in this area and is struggling to sell her 2 bed flat although it was valued at a lower price than this one. She has had much lower offers than what she wanted and a sale has fallen twice.

Her flat is also in a listed building and there are all sorts of restrictions about what upgrades you can do to the flat and also the council requires the outside of the building is painted and maintained every few years which is also costly. One of the potential buyers withdrew because of this.

If you are really keen on this, you should be able to get it with a discount...

Decidualcast · 18/07/2022 08:25

@Twiglets1 that’s good advice. I’ll check out EPCs as I haven’t paid much attention to them, but would like a flat I could rent out if needed in the future.

Decidualcast · 18/07/2022 08:28

@Whitehorsegirl please could you PM details?

On Friday, agent said deals are falling through. A couple of months ago, people were overbidding for a flat I saw and then pulled out recently.

stuntbubbles · 18/07/2022 08:28

No proper sitting room.
Windowless bathroom.
Costs £1.2m.

Ladyoftheprom · 18/07/2022 08:31

I actually like it! All the bedrooms have storage - big beautiful windows in the 2 bedrooms - a gorgeous private outdoor space

Easilystartled · 18/07/2022 08:32

If that’s your budget and you need a 3 bed, go for it. There’s nothing glaringly wrong with it other than it’s the size of a 1.5/2 bed chopped up into a 3 bed. That is prob why it hadn’t sold. Living space is not proportionate to number of beds and there is no ‘real’ master.
If, however, you don’t need three beds, keep on looking for a 2 bed that might have a better layout.

Scoobyblue · 18/07/2022 08:36

If I had £1.2 million and needed three bedrooms for a family, I would move further out and get a small house or something with more living space per bedroom or a garden. I don't think that the space works for three flat sharers either. Could be a very limited number of people looking for this particular layout.

Decidualcast · 18/07/2022 08:36

This is a better top floor flat but service charge is horrific in this building. This has been on since lockdown.

www.zoopla.co.uk/for-sale/details/60875991/?search_identifier=ff6fcd00c456147cc0360d651f09891a

Twiglets1 · 18/07/2022 08:37

Ladyoftheprom · 18/07/2022 08:31

I actually like it! All the bedrooms have storage - big beautiful windows in the 2 bedrooms - a gorgeous private outdoor space

I really like it too and think the price is good for the area

HavfrueDenizKisi · 18/07/2022 08:38

It's only 78 square metres. That is pretty small for a 3 bed flat.

TedMullins · 18/07/2022 08:39

I live in a flat in London so I’m not judging that aspect but if you’ve got that much money why would you choose a flat?!

I agree it’s probably the management fees. For an old block like that (is it a listed building?) they’re probably very high.

ReneBumsWombats · 18/07/2022 08:39

If you have that kind of money and want a 3 bed, it's hard to see why you wouldn't move out a couple of zones and get a much bigger house.

Sally090807 · 18/07/2022 08:41

Insane property price, £1.2M for a flat.

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