What do you think of this studio flat?

[Spring025]

We're going to view this flat with DS at the weekend. It's tiny but in a good spot for him due to being close to a nice town centre and easy to get to work - and all he can afford.
He's currently paying £800 pound a month rent for a room in a house with no access to a proper kitchen (only microwave and fridge) and a shared bathroom so is keen to be putting that money into his own place.
I was just wondering if anyone had any thoughts on it, thanks!

https://www.rightmove.co.uk/properties/159386981#/?channel=RES_BUY

I've literally just moved out of a studio much smaller than that, having lived there 6 years and I'm in my 30s. It's funny how you adapt tbh. Mine had lots of quirky corners and angles, a teeny tiny kitchen sink meaning when you washed up you'd have to do two sink fulls, no space for a sofa if you wanted a double bed but it was in a beautiful part of my city with everything on my doorstep.

The poor EPC is probably a big part of why the LL is selling, doesn't want the expense of complying with the new regulations!

You might be surprised at the rental market if you do decide to go that route later. My landlord has had my place for years and from what I can tell always had a steady flow of tenants.

Possibly the fact that that's only buying you 50% not 100% of the studio flat?

Yes - you are missing that this flat is shared ownership!

Tbh that's not a nice part of Newbury.

Ha ha ha ,seriously? You've led a blessed life then!

OP, I wouldn't consider it due to the electric panel heating. It will be a fortune to heat.

You have to wonder why they didnt just build a wall and make that 1 bed.

An oil heater would be an easy fix for that inexpensive to buy and not expensive to run.

I know someone who bought a studio and made it into a 2 bed, it was a great investment.

I knew there would be something smarter people than me would see 😄 But as another poster pointed out, there do seem to be many better flats in a similar area that seem a much better bet… ☺️

Oil heaters aren't cheap to run, they're still electric.

As it's a converted house, my concern would be the noise from upstairs flat. Would be worth checking soundproofing, but generally this has not been done.

This is a one bed for not much more especially if he makes an offer

https://www.rightmove.co.uk/properties/155534174#/?channel=RES_BUY

But you only own 25%

Might be a nicer option but it's not owning in the same way.

🤣🤣

personally, I really like the light on the one the OP has linked to.

As for the shower to be difficult to get into, 🙄🙄, I'm a proper little fatty with balance issues and would have no problem with that shower.

I've looked at all the links and so far I haven't found one. I would prefer to buy over this one.

Living in a studio apartment is 1 million times better than living in a house share with no kitchen.

As for people going on about people upstairs and people next-door blah blah blah you're never going to know until you move into a place what it's really like and given his other option isn't to buy a six bedroom detached on a huge piece of land.....

Exactly!

There are always going to be young people wanting to get on the ladder. The flat has lovely light pouring into it.. the space heater is a bit of a bugger but buying oil filled radiator will heat the area up nicely and they're cheap to buy an inexpensive to to run. It looks to be in a good location has offstreet parking and is livable, but at the same time this scope to make it even better if he wants to.

The maintenance and ground rent are reasonable.

Yes this looks like a lot more for the money and he could always put an offer in.

I think the studio also looks fine but agree with electric heating being a nightmare and v expensive.

Is your son handy? As a PP mentioned, I'd be keen to measure up the current kitchen (there's an awkward chimney) with a view to turning that into the bedroom.

There wouldn't be a lot of room around a double bed but depending on measurements of alcoves it could work.

A kitchen living room would then work well as it's quite a big space.

I don't have gas. Electric heating is expensive but equally, he's only really heating one room. A panel or oil filled radiator would cope with that. You can get split tariffs useful for electric heating.

@TheCurious0range I think that’s better buy

Does he need a mortgage? It’s more difficult to get one for a studio.

They always going to appeal to other people wanting to get a foot on the ladder

The one shown by @TheCurious0range is ' only ' £15.000 more, is there any chance somehow he could stretch to it ?
Tho of course neither of us know the areas...

Same! I have a 4 bed semi with a garage and gardens, on the coast in Northumberland. Our mortgage is £300 per month, I'm not sure of it's exact valuation now, but I would expect less that 100k.

@Spring025

The one you have linked to I really love the light in it.

An oil filled radiator would fix the issue of the panel heater. They're not expensive to buy and they're not expensive to run.

The maintenance and ground fees are both reasonable

You take a pump with any non-detached property in terms of sound proofing, that's life.

A studio flat is 1 million times better than a shared property. He's paying a fortune for that doesn't even have a proper

They'll be no problem reselling it when he wants to because there will always be other young people wanting to get a foot on the ladder. Newbury, is a lovely little town.

I personally wouldn't change the kitchen into a bedroom. There are so many brilliant sofa beds or Murphy beds these days that aren't a complete pain in the arse to put away or bring down at night when he has friends over et cetera..

Some people do make me laugh 'it's not a separate room to eat in' 🙄🙄🙄

He'll have his own space and a functioning kitchen, bathroom to himself and his own front door a zillion times better than a room share and to me it looks much nicer than one of the blocks that people have linked to.

It's perfectly livable as it is, but at the same time if he wants to do bits and pieces when there is opportunity for that as well.

I'm fat and have balance issues and I'd have absolutely no problem with getting in that shower. I'm sure he's thinner and has better balance than me and won't see an issue in it.!!

I wish him all the best!!

Wow lots of food for thought thanks everyone, he did see this one @TheCurious0range but it only has 86 years left on the lease which we thought wasn't ideal. It is bigger and nicer but I don't know what's involved in extending a lease expense/difficulty wise? We'd probably have to help him out to be able to afford it. I don't know what the service charge/ground rent are either because I couldn't find them anywhere - thought there might be a reason for that but can ring the estate agents and find out.

Most of the flats in his price range are around the station - ie not the best area. There are a lot that are cheaper and nicer but as PP's have found they're all shared ownership unfortunately which he doesn't want.