Help - what would you offer on this flat?

[Crash123]

Hi all! I am considering putting an offer in on a property and was wondering a) what to offer and b)if you all can spot any downsides that I cannot.

My situation - I am looking to buy alone after a breakup with my ex. He bought me out of the flat we owned together late last year, and I've been staying with friends ever since. I have a bit of cash from that, a bit of savings, and my parents are willing to help me make up the difference in a deposit if it'll help get me over the line. I have no children, though I wanted a second bedroom as I want to leave my options open to adopting down the line (and could get a lodger in otherwise to help me save money and replenish my emergency savings).

I have found this flat which ticks all my must-have and a lot of my nice to have boxes - https://www.rightmove.co.uk/properties/133093493#/?channel=RES_BUY

The boxes it ticks - It's got a nice kitchen, 2 proper bedrooms, a garden, and is in good enough condition that I could move in straight away. I won't have money to decorate for a while so this is good. It's bright and airy, has some decent storage space, is off a main road, is close to transport (the tram) and walkable to different types of transport, which is key with all the London strikes and train works. I could host friends in this flat.

The downsides - It's far away from a buzzy high street - I'd have a long walk or a bus ride to somewhere with nice coffee. There are no grocery stores nearby. The neighbourhood is a bit rough around the edges (and I'll go visit at night to see if I feel unsafe). I think I could cope with these. It's ex-council which I don't mind at all, but some other people have said is a downside. It's also a bit far from the train, but the tram is close by. And the shower room is a bit blah and will need refreshing at some point.

I want somewhere I can stay for a while and not outgrow. After a traumatic 2022, I want to own somewhere that no one can tell me to leave.

I can JUST about make this place work financially. I don't earn enough to get a 10% loan, so I'll have to make up the shortfall with a bigger deposit, which I can do if I work my ass off. The upside is, I'l have lower payments monthly if I put a bigger deposit.

What would you offer on this place? Do you see any downsides apart from the ones I've listed?

That Furzedown flat looks poky proppy and it's also been reduced £25K recently. The Mitcham property Crash123 is considering is a maisonette of 800sq ft which is generous.

@SaveMeFromMyBoobs - Your name is amazing, BTW. How do I know what the extension amount would be? Who would I talk to about this? Is this by the council?

@lostinfusion - even if you're close to transport? Not arguing, just asking if that would change anything?

@Fretfulmum - Thank you for this. Is it the leaseholder who says what the service charge is? Would they always know if it's going to go up or could they just spring this on me down the line?

I think its overpriced considering where it is

@Viviennemary - Sorry for the basic questions but - how do I know if the heating is electric or gas? And also how do I see if some properties there are still owned by the council?

@Crikeyalmighty - That was kind of my plan too. I wish I could afford the same place in a nicer area but I can't. I can not even really afford this, but at least if I get it I won't have to move for a while, you know? I think it's able to be mortgaged, and I have a decent-sized deposit, so maybe that'll do the trick. My mortgage advisor didn't seem alarmed when I sent it to him anyway.

What are the biggest downfalls of living a bit away from the shops?

@Arapawa - Yeah the garden swung it for me. It's South-facing too!

@sunshinesupermum it is small, but as I said upthread location & area would trump space for me. OPs flat is lovely & a good size but I wouldn't want to be that far from stuff or in that location.

unless it was significantly cheaper!

@proppy - That actually came up on my radar, but the garden being so accessible from the street put me off. I want to be able to relax, and to leave things out there (tables, chairs, a hammock) without worrying someone will take off with them. Plus I'm keen on a 2 bedroom so I can get a lodger to help with costs.

Except it's got what looks like a huge Leylandii hedge next door. That means even if it's south-facing for a lot of the morning it will be in shade.

@Crash123 the lodger idea is a good one. I get that, I just think the location is so much better & the area is much nicer.

As a single woman, I wouldn't buy a ground floor flat with patio doors in a rough area. You won't be able to have your windows open.

115 years on a lease is fine. Marriage value doesn't kick in until you've got 80 years left and I can't imagine the seller is going to be interested in extending the lease. I wouldn't.

I don't know the area OP but I would recommend doing some research about the freeholder - particularly if it's a council. We were looking at a place where Southwark was the freeholder and everything we read was negative about them (as freeholder rather than as the council) and it put us off.

What's the closest supermarket to the flat?

As a single woman, I wouldn't buy a ground floor flat with patio doors in a rough area. You won't be able to have your windows open.

That's a good point, check the window openings. Our flat had only big windows & used to be sweltering in the summer but we were 1st floor so could have all them open.

The bedrooms are upstairs so complete freedom to leave windows open all day and night long. That is a certain freedom.

Someone mentioned a leylandi in the next door garden. I'm not sure if it is. Maybe check that, but if I had that garden I would be planting some sort of shielding/privacy. A garden like that is an extra room in the summertime. Get an awning or a patio umbrella etc. Lovely. it's got lots of potential.

Someone spoke about ex council houses in a derogatory fashion. Where I live the ex council houses are now selling (renovated) for over 1.5m. Unrenovated, just over 1m. They are 1950s big square rooms with large gardens. Semi detached. I would like one but it's too much money. They are much sought after.

It’s not something I would buy. As PP said, those trees are blocking all the sunlight. The neighbour has not bothered to repair the fence ( though street view shows the area neat and tidy). The bathroom is worn out, kitchen floor damaged.
My biggest gripe is the cheap construction. The front and back are UPVC panels or windows. The floor between ground/first is likely to be cheap, I’d hope the bedroom ceiling would be solid. Interior walls upstairs are plasterboard.
The location is poor, and you know what they say about location?
As it’s at the end of the terrace, getting shopping from the car a pita.
It is a good size, but there are too many negatives to take a risk, add on the falling market and it has very few redeeming features.
If you do go at the weekend, knock on the door and talk to the current occupant.

Personally I would definitely choose a location I preferred over a larger flat. And as PP have said, a ground-floor flat poses security risks - and sadly so does a 1st floor, never leave windows open even on a 1st floor (a friend of mine had a break in through an open 1st floor window)

If you scroll down the listing to Property sale history (there isn't any, which means it hasn't sold since 1995, when house prices are available from), but click on 'go to nearby sale prices' it will show previous sales for that postcode.

@Crash123 the building should have a sink fund but with rising utility prices, a lot of buildings have used all of this fund and have spring a huge increase in service charges on the residents. They can increase it annually and you have no option but to oblige and pay any amount of increase.

Hi Op, i live in Mitcham! About 20mins walk from this road. Mitcham does have a reputation (especially pushed by people who dont actually live in Mitcham usually 🙄) but having lived here for 5yrs, my view is that the reputation is worse than the reality.

We love the ease of getting connections to Wimbledon and Tooting, plus Morden Hall Park, Merton Abbey Mills being so close etc. We've been very happy in our house.

Ive never felt unsafe walking from eg the bus stop to my house, but i would avoid the many alleys and not walk through the estates. So maybe take a look at what your walk home would be.

I would say about that specific flat though that its pretty near some of main roads and the tram. Have you been been and viewed yet? Checked how noisy it is etc?

This is only a 1 bed so would rule out your lodger but also cheaper and looks like it needs no work. https://www.rightmove.co.uk/properties/132925109 Its in a nicer part of town and around 15-20mins walk to Colliers Wood so nearer a tube.

@Menier - Thanks so much for this! Where do I find these things out - the leaseholder?

@SirTarquin - Thanks so much. Would the leaseholder tell me these things? or is the info somewhere else?