Would you buy this ex-council flat?

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Thinking about buying a flat (first time buyer). Would like to live centrally but don't want an enormous mortgage. Also want a 'spare' bedroom to rent out if money ever gets tight/lose a job.

https://www.rightmove.co.uk/properties/142869377#/?channel=RES_BUY

It looks nice enough and ex council properties tend to be a decent size. What's the rest of the block like? Owned/ part council?
What's the area like? X

You'll have to factor in between 10-40k expenditure every seven years from the local authority to cover roofing repairs and any other maintenance due as I imagine the LA will be the freeholder.

My mate is moving for exactly this reason. Its bankrupting her.

I would. Pimlico is lovely, and central. The flat looks fab and not a bad price for Central London. So bearing in mind concerns voiced above as to ongoing costs, look into those, but if that checks out I would jump at this.

There’s no floor plan and no photos of the kitchen. What there is looks very pleasant, but I'd want to know a lot more about charges, parking etc.

a bit misleading with mention of THREE double bedrooms when the floorplan suggests TWO plus a dining room.
besides being unscrupulous it would have me wondering if it's common in the building to have overcrowding? rooms rented out?
i do like the area though, love the look of the building.

Absolutely explore the service charge and which company / Council is tasked with servicing building. Do the communal areas get cleaned every day? Do the lifts and refuse chutes look well maintained?
Also check for cladding and RAC issues.

You might find getting a mortgage on the 6th floor a little tricky. The lift could be a red flag with high charges for maintenance and repairs so check this out to thoroughly.

Also check for possible upcoming works like new windows, fire doors, painting. leaseholders can end up with huge bills

Goodness. How the other half live! 😉

I cannot conceive of blithely announcing I don't want a enormous mortgage, so I'm only thinking of forking out £700,000 as a FTB.

That kind of money is beyond most people's wildest dreams.

I'd rather get a flat with two bathrooms if I was thinking of renting out a room. It's a good sized flat though.

Hmmm - Service Charge: £3,205 inc. Heating and Hot water
I'd check how the heating/hot water works. If it is centrally controlled, do they have set times of year when the heating is on/off? That could be annoying.

I've lived in a council flat of that sort of build and there wasn't much sound insulation. Also, the lifts were CONSTANTLY failing.

It's centrally located, which is great, but the pollution levels are very high around there - ok if you don't mind it, but I lived in Vauxhall for a while and really felt it.

What was the actual point of that?

reinforced autoclaved aerated concrete is RAAC not RAC.
Check Rightmove Rentals to see how much current rental is and whether very many are private rentals . Also look at other purchased prices of other flats in block to get a handle on how many fellow home owners.

It's lovely but no, council means issues with very hefy service charge if anything in the block needs repairing unfortunately.

I live in the Millbank estate- ex council and very nearby
Great place to live
My service charge is much lower than that but dont include heating and water
Westminster are great with their ex council flats. Our buildings are in great condition.
Very low council tax in Westminster

Have you looked at the Millbank? You wouldn't get 3 bed for that much though. The black and whites (Lutyens on Vincent street) are also very popular.

https://www.rightmove.co.uk/properties/137672906#/?channel=RES_BUY

https://www.rightmove.co.uk/properties/140173439#/?channel=RES_BUY

https://www.rightmove.co.uk/properties/144677780#/?channel=RES_BUY

Isn't that the same for any block of flats though? My friends hand seems to be constantly in her pocket with communal bills

It is central London- of course all 3 rooms will be bedrooms and that isnt overcrowding.

No because the LA will be the freeholder for your lease and make decisions about who fixes the issues- so it would not be put out to tender like a private block would. Plus any charges may be split across just the leaseholders- i.e. those in the block that privately own, as those their renting from the council are not liable to such costs and as such the LA are responsible for- who are the freeholders.

@NewmummyJ Ah right. I'm in Scotland so we don't have freehold/leasehold

Interested in reading replies to this as looking in that area for an investment flat and was hesitating on ex-council due to resale values

I viewed a flat in this block about six years ago, it was lovely, looks like the same layout, spacious, very bright and airy rooms, the service charge was fairly average for the area.

I like the layout. I live in an ex council as I don't care about character, so got plenty more space than I would have in a cute cottage for the money. I have no idea on price or service charge for the area.