[titanicdev]

Hi,

Has anyone else bought an apartment in the Arc development?

The developer is currently refusing to drop the asking price, has anyone been able to negotiate with them on this?

Any other comments relating to this development are welcome. Lets work together!!

[Malthus]

titanicdev, on Oct 21 2008, 10:43 AM, said:

Hi,

Has anyone else bought an apartment in the Arc development?

The developer is currently refusing to drop the asking price, has anyone been able to negotiate with them on this?

Any other comments relating to this development are welcome. Lets work together!!

Welcome

Can't say to much but i'm hearing on the grapevine that the project is 6-12 months behind.

Have a good read of the new build apartment woes thread.

I think think general view on the board would be to get a good solicitor to pick through the paperwork and use any excuse to get out of the contract .

This post has been edited by Malthus: 21 October 2008 - 09:57 AM

[Traktion]

There was someone who posted on here a while back who had a deposit down. I'm not sure if he still reads these pages or not though.

He did, however, think the TQ apartments were a great investment and the prices would not fall. The majority of the posters here disagreed.

[JoeDavola]

titanicdev, on Oct 21 2008, 10:43 AM, said:

Has anyone else bought an apartment in the Arc development?

I would be surprised if anyone has, the general concensus on this site is that new build apartments are undersized, overpriced, and come with the extra cost of maintenance fees, and therefore would be the last thing any of us would think of buying.

titanicdev, on Oct 21 2008, 10:43 AM, said:

The developer is currently refusing to drop the asking price, has anyone been able to negotiate with them on this?

That's up to the developer; if he can sell them all at the current price then fair play to him. I personally wouldn't buy an apartment in one of these large developments at any price.

[JoeDavola]

Interesting fact; I just went on google maps and worked out the how long it would take me to get to my job in Belfast city centre if I lived in one of the 'City Centre' arc apartments, compared to my normal commute from where I currently live in East Belfast.

From my house to my work, is 2.7 miles.
From The Arc, to my work, is 1.9 miles.

So I would be living a whole 0.8 miles closer to work. Is this really worth it? Considering that for less than the price of a two bedroom flat in the Arc, I could buy a 3 bedroom semi detached house in the street where I live.

[subby]

painful as it may seem, I'd walk away from the deposit if you can.

If you can't then get a lawyer and find a loophole to stop you from buying this property that is probably worth 50k less now that what you first bought it for off plan.

good luck sorting it out

...and welcome to the boards

[titanicdev]

JoeDavola, on Oct 21 2008, 11:55 AM, said:

Interesting fact; I just went on google maps and worked out the how long it would take me to get to my job in Belfast city centre if I lived in one of the 'City Centre' arc apartments, compared to my normal commute from where I currently live in East Belfast.

From my house to my work, is 2.7 miles.
From The Arc, to my work, is 1.9 miles.

So I would be living a whole 0.8 miles closer to work. Is this really worth it? Considering that for less than the price of a two bedroom flat in the Arc, I could buy a 3 bedroom semi detached house in the street where I live.

Apartment living has historically been more of a lifestyle choice but I do take your point. I still believe TQ is a good long-term investment.. how "long-term" remains to be seen!

[Malthus]

titanicdev, on Oct 21 2008, 12:00 PM, said:

Apartment living has historically been more of a lifestyle choice but I do take your point. I still believe TQ is a good long-term investment.. how "long-term" remains to be seen!

I'm sure your grandchildren will thank you

[subby]

if you're planning on staying there for the nest 7-10 years then you'll be ok....if you're planning on a family in the next 7-10 years then think again. Not too many places a toddler can play in when it comes to a sterile block of flats with little or no garden....and lets face it...they are flats. The word Apartment is just an Americanism word used to make something sound more appealing

[titanicdev]

subby, on Oct 21 2008, 12:03 PM, said:

if you're planning on staying there for the nest 7-10 years then you'll be ok....if you're planning on a family in the next 7-10 years then think again. Not too many places a toddler can play in when it comes to a sterile block of flats with little or no garden....and lets face it...they are flats. The word Apartment is just an Americanism word used to make something sound more appealing

Michael Jackson seems tro do okay with his kids on a balcony :-)

I take your point this has always been a long term investment for me. I don't intend to live here longer term. Does ayone have an idea of the rental prices expected for these properties?

[JoeDavola]

titanicdev, on Oct 21 2008, 12:00 PM, said:

Apartment living has historically been more of a lifestyle choice but I do take your point.

Could you explain what you mean by 'lifestyle choice'?

With regards to your earlier question about rent, there is maybe a possibility that the rent on these apartments could be higher than the average apartment in Belfast if this development is seen to be particularly exciting and up-market. Time will tell.

[titanicdev]

JoeDavola, on Oct 21 2008, 12:30 PM, said:

Could you explain what you mean by 'lifestyle choice'?

With regards to your earlier question about rent, there is maybe a possibility that the rent on these apartments could be higher than the average apartment in Belfast if this development is seen to be particularly exciting and up-market. Time will tell.

A lifestyle choice in that some people prefer "apartment living" as opposed to living in a terraced / other stle of house.

[JoeDavola]

titanicdev, on Oct 21 2008, 12:50 PM, said:

A lifestyle choice in that some people prefer "apartment living" as opposed to living in a terraced / other stle of house.

Yes, but what does that actually mean? Why would it be preferable to live in an apartment over a house?

I'm not having a go, I'm just trying to understand things from your point of view.

[titanicdev]

JoeDavola, on Oct 21 2008, 12:52 PM, said:

Yes, but what does that actually mean? Why would it be preferable to live in an apartment over a house?

I'm not having a go, I'm just trying to understand things from your point of view.

Unsure of the exact socio-economic reasoning behind it but in general it is the young, unmarried professional who chooses this type of domicile. Again this is a huge generalisation but I am sure there are studies you could available online for this topic

[trebor21]

JoeDavola, on Oct 21 2008, 12:52 PM, said:

Yes, but what does that actually mean? Why would it be preferable to live in an apartment over a house?

I'm not having a go, I'm just trying to understand things from your point of view.

As you are close to the hustle and bustle of the city, nightlife etc. Great if you like the busy life! Great views if yours was overlooking the water.
Recently in Oslo and I have to say the buz around the waterfront was fantastic. Lots of Small Cafes bars resturants etc. The view over the fjords was stunning.
Buts it the same for renting, rents are normally higher in the City Centre, why dont people rent a house out of town. Simple reason convience.

They are quite expensive however compared to what some developers are now selling new build houses for within 20 minutes of Belfast.


Also its not just a case of handing back your deposit , you pay this when you agree to your contract. If you pull out after you can be sued! Its up to the developer he wishes to peruse this.
There is no need for them to cut prices. They have sale agreed on 90% off the apartments. If I was the developer I would make a point of suing the first few that pulled out.

This post has been edited by trebor21: 21 October 2008 - 12:16 PM