Another "would you buy this" post - garden flat

[HolyParc]

I enjoy these posts as they help me understand market perception of properties I'd be considering purchasing, hope they are also fun for you :)
For those not familiar with the area, this is a lovely residential area in SW London/Surrey border with great schools, transport, amenities, safe, near a lovely river walk etc. And because of this, very expensive :)

What do you think of this? https://www.rightmove.co.uk/properties/136368815#/?channel=RES_BUY

I am not sure about being lower ground due to limited light and also, for some reasons it feels less safe? Location is as good as it gets though and I like the flat too.

@HarrietJet the OP has asked for opinions. I don't personally think flats in London are a great investment in this climate. That might be irrelevant to the OP as she may not care about investment & it may be irrelevant as she is happy to stay in a flat (I would have without dc). I'm not sure what's offensive about that?

I had a garden flat in a Victorian conversations. Needed a damp proof course prior to moving in. Was brilliant flat and the garden was amazing. But poor soundproofing and neighbours washing machine above my bedroom. So prepare for soundproofing works and find out if have wooden floors above and where their kitchen is

@MNetcurtains so you're agreeing with me that those bits are hugely undesirable?

the one at @HarrietJet posted is a great buy

www.rightmove.co.uk/properties/137667584#/?channel=RES_BUY

yes probably needs 200k plus spent on it but so much potential & it's detached

sorry I digress

Great buy if OP had another 130,00 for the initial purchase and 200,000 doing it up. I think you've lost the plot Frippu 😳😉

But my budget is more than 100K less than that and this would also need a lot of £££ spent on works so how can you suggest I consider a property like this when clearly it's not within my budget? sorry I don't understand the logic

I think I'd want to swap it around a bit maybe. Create a hallway and turn the "reception room" in to another bedroom, then reconfigure the kitchen and second bedroom in to a big open plan living, dining, kitchen that opened up in to the garden. That way the lighter rooms are the ones that are used mostly, and the bedrooms can be a bit darker.

Depends on whether the price is worth it for the area. It's a nice flat otherwise.

Two things that would bug me though:

• parking
• everyone's unsightly bins all over the front pavement

It's a good location but in the unlikely event I had that to spend on a property it wouldnt be on a conversion flat - LG or otherwise

Great buy if OP had another 130,00 for the initial purchase and 200,000 doing it up. I think you've lost the plot Frippu

Someone else posted it, you went off a tangent that it's a undesirable area & I went off a tangent thinking about it's potential. I already apologised & said I digress!

@HolyParc I didn't address that post to you, I was just musing. I did directly ask you some questions but you haven't answered them.

@HarrietJet oh and I sold my z3 SW london flat & moved a little further out for a house. My old area was 1.2m for a terrace with no parking & tiny garden. I didn't have that much to spend but wouldn't if I had it. It's a normal thing to do if you want bigger.

I'm sure you meant to preceed that with 'thanks for trying but'🙄

There has been a recent correction of the London flat market, as happens from time to time, but London property still generally represents a great return on investment. Individual flats (or houses) may be a poor investment, but you can't write off all 2 million flats in London.

We did the same. Lived in a 2 up 2 down Victorian terrace and moved to a 3 bedroom detached house. You've got to start somewhere.

@MissLucyEyelesbarrow i haven't wrote off every flat. I sold mine for a profit 🤷🏻‍♀️ but I still wouldn't buy one now for a few reasons. If I was a FTB now I would go straight for a house. And I wouldn't plan to sell that house for many years.
Obviously the prime central london market is very different but most people aren't shopping for that.

Oh & there have been far more flats built in recent years vs actual houses in London so there is a supply issue there plus hybrid working becoming more of a thing means some people are willing to move to an outer zone as opposed to concentrating on inner zones.
The most important factor is the entry level price & most London flats are high which incurs stamp duty & moving again means more stamp duty.
If I was a 21 yr old with a magic circle law contract then I would still buy a flat because time in the market matters but most FTBs don't fit that brief.

www.standard.co.uk/homesandproperty/property-news/london-housing-market-flats-house-prices-flat-prices-b1072283.html

and looking at sold prices I start by my point about investment but as I said that might not matter to the op

www.rightmove.co.uk/house-prices/kt6/st-andrews-square.html

I quite like basement flats. Where I live in many of the nicest areas it’s the only flat with outside space in the large Victorian terraces - unless you can afford the whole house but I’m not a millionaire! They also tend to be bigger and cheaper per square foot. I’ve seen better layouts than that one though with more light. Damp is an obvious consideration, get a proper period property damp specialist in and if it’s ok then with good ventilation, efficient heating and a dehumidifier it should stay that way.

I live in the area. For the size, this is hugely overpriced. You'd be paying a massive premium for the location on a very nice square. You'd get much better value flats just a minute round the corner.

I've lived in a few London basements, this flat is really badly laid out!

All kitchen/dining living should be at the back opening out onto garden.
Garden is nice not sure about aspects of sun with those big buildings at the back.

Overall looks in good condition.

I own one nearby,

I would say make sure you get a very good survey. Mine is a money pit due to damp.

And surbiton is not really London, so I thinks that's a good price.

My ex London basement flat sold for 1.2m (not by me!) recently and yes I do look my old houses to see what they look like now 🤣

Easy to burgle, damp, dark and a leashold . What a bargain ;)

London’s always a good investment, it’s the one place in the country that when things go tits up economically tends to hold its value.