Would you buy an apartment like this?

[AfterTheRainComesSun]

https://www.rightmove.co.uk/properties/139523396#/?channel=RES_BUY

Nice residential area in SW London-Surrey border.
This budget would get us a small house further out or a nicer and more spacious apartment around here.
Would you consider this type of property if you were a buyer?
(I dislike the kitchen but that could be changed eventually)

Why wouldn't you consider that sort of property? The only thing that might worry me initially is the large outdoor space; that's likely to require £££ service charges to maintain. But that's easily answered by a question.

What would be your concerns?

I would never buy a flat where you were completely depend on a management company - they can be total nightmares, can massively increase charges whenever you like, suddenly land you with huge bills for building repairs etc. Plus you are unable to make any significant changes and may not even be allowed to have a pet (or let it out if you ever needed) without freeholder permission. Your fellow leaseholders also have a lot of influence on what you are able to do or not do. I know people that have struggled to sell because of the management companies dragging their feet on providing documentation etc.

Perhaps some of this is personal to me because I like independence but I’d choose a freehold house that you can do what you want with further out any day of the week.

@HappyAsASandboy for all the reasons the poster below has listed :(

Yes, I think it's lovely, especially the multiple windows in the main room.

It's under offer though so unless that's you someone else does like it that much!

I love it, however I'd much prefer a small house in a different area but that's just me 😊

@Hipnotised no it isn’t us who bought it. We are just considering options in different areas and I still cannot make up my mind on what would be the best choice for us and our lifestyle

I understand the reasons that others have posted, but as an owner of a leasehold flat in a city where virtually all flats are leasehold, they don't usually manifest, so i while I'd have a chat with the management company and look at the charges etc, I wouldn't be put off.

If a management company is really awful, then the leaseholders can take responsibility (and then appoint another agent or do it themselves). It doesn't have to be a nightmare. If it's been running smoothly for a number of years though, it's unlikely to go off the rails as there's a track record to follow and agents are generally making enough money to not suddenly start playing silly buggers.

@HappyAsASandboy thank you. What about pets though? Is it likely they are not allowed? (Cats)

You'd have to look at the lease for the particular property.

My lease stipulates no pets. I have kept small indoor pets without anyone ever knowing, but my lease says no pets and I always had a back up plan in case it was enforced.

That’s a really lovely flat, also great it’s top floor so no noise above.

My main concern as already noted would be the service charges especially as they aren’t on the listing.

It's a lovely flat although I don't like the kitchen really. It wouldn't work for me as I don't really like living in a flat and we have pets.

It depends what you're after but if you want a flat, it's a nice one.

I would definitely consider a place like that, which isn't surprising as I live in a very similar apartment. However all residents where I live share the freehold and we run our own management company so we're very careful with finances and we share the responsibility for aspects of running the house. DH and I organise grounds maintenance, someone else deals with insurance issues, another deals with internal repairs/lift servicing etc etc. A couple of residents don't do anything due to age and/or health.

We can have pets. Ours is the only dog here but others have cats. It just depends on the individual lease, so just make sure you can see the lease before exchanging contracts.

I think it looks ok, bit lacking in character.

shocked at the price though for what it is. Our house will be valued similarly and we are lucky to have a 5 bed detached. It’s also in a nice area and very close to the fast train to London.
Easier said than done I know, but I’m pleased I left London. Another life exists!

When we were first time buyers in SW London, we shortlisted two possible properties we liked in our budget. One was a modern flat similar to this with an annual maintenance charge of £2-3k I think…….. or a little two up two down house that needed modernising. We went for the house in the end as we could spend the same money each year on the house but actually improve the house and attempt to increase the value over time, whereas the money on the flat was just to maintain the communal areas and wasn’t an investment. It worked out well for us as the house went up quite a lot in value in the 6 years we owned it (due to the increase in house pricing and also all the work we did to modernise it.) When we sold it we looked up the current value of the flat we had considered buying and it hadn’t increased in value anywhere near as much.

I personally wouldn’t because I don’t like apartments- I’m just not a fan of leaseholds or living that near many other people.
I’d rather live a long way away in a house.

It’s nice enough but just not my thing.

I'd have to have some outside space, a small terrace, decent sized balcony. I couldn't live in a flat with none of that.

So anything without terrace/balcony would not be on my radar, and I wouldn't even look at the pictures!

The grounds are lovely though, but still, there is nothing like your own private outside spot. For me anyway.

Everyone has different tastes and needs and at a different stage of life, you have said nothing about your own circumstance, so you are going to get opinions from people who may or may not be the same as you.

I think the property is quite nice, good size for a 2 bed, specifically about this property is that the service charge is given as £0 so I wouldn't be surprised if it is a very high figure that doesn't want to be displayed.

I suspect older buildings like this come with bigger service charges than the generic new builds and are spread over less flats.

If you're going to need to move in a few years ie more space, kids, i would not buy this or one like it. For many people I know they think buying anything is on the 'ladder' except flats with high service charges are anything but. Many flats in London today are worth less than they are a few years ago, and this flat seems to be priced at peak price for the block.

Sorry appreciate I didn't provide many details.

We are FTBs with a young DC. Both work FT in London so great commute + good schools/childcare amenities + safety are key for us.
The price of this flat would be our very very max budget (in fact I'd say slightly less) so fairly limited for these areas but we prioritise amenities and "naiceness" of areas over space (i.e. rather get a 2 bed property in a lovely are than a 4 bed detached house too far away).

I think it’s lovely and probably much more space than you would get in a similarly priced house. I would want some private outdoor space though.
I agree to check the service charges, ground rent and length of lease. I have lived in leasehold flats and have never had an issue with management companies but steered clear of any with high charges or too many restrictions.

Do you know how much the service charge would be?

Wouldn't have this type of property with DC. Would prefer an a private easily accessible garden

Not at your stage in life no. It’s the kind of property that will appeal to older buyers so there may be little tolerance for child noise. It’s also pretty dated.

Apart from the kitchen I don't think the apartment is dated. It looks pretty timeless to me. I think it is very attractive as it is light and airy.

I would think that hard floors + young DC + top floor flat might make you unpopular with the neighbours below though.

Having just got out of a development with service charges / leasehold in the last year I wouldn't personally encourage anyone to buy one

I would never buy a flat where you were completely depend on a management company - they can be total nightmares

If they are who I think they are, then they are a total nightmare. Very bad reputation locally.