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blondeguy123

Opinions On This Flat?

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http://www.rightmove.co.uk/property-for-sale/property-16084593.html?premiumA=true

It's been there for a while I think, obviously not selling.

I'm a FTB hoping to buy in 2 years or so and this was one of several that caught my eye - good location (close to both city centre and motorway), 2 bedrooms, but "only" offers over £80k. I'd seen one in same building for offers over £85k a couple of months ago and another for £90k. Seems lower than similar flats surrounding glasgow.

Why?

Then again perhaps the seller is holding out for £90-odd k or so.

One bad point I see from google streetview is that just round the corner there is a giant ugly council housing block. There's others in the surrounding area. And while it says "Charing Cross", I think technically it's Anderston. I also don't know when it was built - wonder if it's "built to last" ie will it still be there in 30 years. Have heard horror stories of some of the newer builds being poorly built and not going to last.

Anyway I'm very inexperienced but just wondered if anyone with more knowledge of prices/property or even the area could give their opinions/comments

thanks

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http://www.rightmove.co.uk/property-for-sale/property-16084593.html?premiumA=true

It's been there for a while I think, obviously not selling.

I'm a FTB hoping to buy in 2 years or so and this was one of several that caught my eye - good location (close to both city centre and motorway), 2 bedrooms, but "only" offers over £80k. I'd seen one in same building for offers over £85k a couple of months ago and another for £90k. Seems lower than similar flats surrounding glasgow.

Why?

Then again perhaps the seller is holding out for £90-odd k or so.

One bad point I see from google streetview is that just round the corner there is a giant ugly council housing block. There's others in the surrounding area. And while it says "Charing Cross", I think technically it's Anderston. I also don't know when it was built - wonder if it's "built to last" ie will it still be there in 30 years. Have heard horror stories of some of the newer builds being poorly built and not going to last.

Anyway I'm very inexperienced but just wondered if anyone with more knowledge of prices/property or even the area could give their opinions/comments

thanks

Ok hopefully in order of your points.

1 If you are looking to buy in a couple of years, why the particular interest in this place now?

2 What makes you think it has been hanging around? Has it been relisted? Property Bee (Firefox add-in) says it's been on since June 10.

3 Land registry (eg nethouseprices.co.uk or aboutmyplace.co.uk) will tell you what others in block and area have been going for:

http://www.aboutmyplace.co.uk/showmap?panel=soldprices&mt=b&ms=s&mv=h&search_location=Dover+street%2C+Glasgow&type=street&poi=soldprices&id=3365266&content=G37BG&scalelevel=17&sp_year=all&pany=0.0&panx=0.0

e.g no 17 Dover St, flat 0/1 went for £81k on Jan 25th 2010. This is the last recorded sale. What happened to the o/o £85k and £95k flats you mention? Are all the flats the same size/same number of rooms etc? 0/2 sold Feb 06 and April 07 - is this typical of how long people stay there?

4 Don't just go on streetview, you need to go to the area at different times of the day and week to get a feel for what it's going to be like to live there - rush hour, closing time etc. Is it going to be safe to park there? Get a car insurance quote for where you are now and this post code. Do all the flats appear to be occupied? Any broken windows or other damage?

5 Go to the door at 17 and have a look at the security system. Does it work? Are the flats in single names or multiples? Are the flats owner occupied or rented out?

6 The EA will be able to tell you who the factor/management company is.

All part of getting a feel for the area and the property before you even see inside...

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Anyway I'm very inexperienced but just wondered if anyone with more knowledge of prices/property or even the area could give their opinions/comments

Its not very good value right now.

Wait another year.

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http://www.rightmove.co.uk/property-for-sale/property-16084593.html?premiumA=true

It's been there for a while I think, obviously not selling.

I'm a FTB hoping to buy in 2 years or so and this was one of several that caught my eye - good location (close to both city centre and motorway), 2 bedrooms, but "only" offers over £80k. I'd seen one in same building for offers over £85k a couple of months ago and another for £90k. Seems lower than similar flats surrounding glasgow.

Why?

Then again perhaps the seller is holding out for £90-odd k or so.

One bad point I see from google streetview is that just round the corner there is a giant ugly council housing block. There's others in the surrounding area. And while it says "Charing Cross", I think technically it's Anderston. I also don't know when it was built - wonder if it's "built to last" ie will it still be there in 30 years. Have heard horror stories of some of the newer builds being poorly built and not going to last.

Anyway I'm very inexperienced but just wondered if anyone with more knowledge of prices/property or even the area could give their opinions/comments

thanks

I have seen prettier prisons. After a hard days work, do you really want to be coming home to a low security young offenders institution?

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My advice for anyone buying anything anywhere is to go there during the day - in the evening and at night - and the weekend too.

I have a friend who is an EA and he shows places to people when he knows the night owls are sleeping all day.

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I have seen prettier prisons. After a hard days work, do you really want to be coming home to a low security young offenders institution?

Now now, I can assure you that any prison/YOI I have spent "time" in :unsure: is far less pretty. :P Unless of course this place smells of stale BO and p*ss.

Edited by the-wife's-knickers

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Hi mate

I used to live not far from there, in a tennement flat a bit further West on Argyle St so I'm pretty familiar with the area.

And to put it bluntly, I wouldn't buy it. When I lived nearby I did cut through that district quite often on the way home from the city centre at 3am, and it isn't something I'd reccommend. Oh and if you have a girlfriend or plans to get one you won't want her walking about that area herself at night.

Even if the two of you are confident that safety isn't going to be an issue, I'd probably be concerned about your neighbours. Loads of LHA tenants, students and recent arrivals to Glasgow nearby. Also, I woudn't want to buy a property backing onto that housing block to be honest. Sorry if that makes me prejudiced, but I lived very nearby there for more than two years so think I know a bit about the area.

I'm afraid there's a reason why this flat is only £80k despite being a stones throw from the city centre, and that reason is that not many folk want to live there. If I were you I would start considering the south side, you'll get something far nicer and in a better area for not too much more. If you really want to move somewhere west of the city centre there I'd pay a bit extra and try and get somewhere in Yorkhill or maybe Partick.

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Geed - "I have seen prettier prisons. After a hard days work, do you really want to be coming home to a low security young offenders institution?" - what an ignorant comment, it's no uglier and no nicer than many, many other flats in other areas I've seen. We don't all have the budget to buy a luxury penthouse apartment or detached five-bedroom gated house in our first buy. The building itself looks fine to me for my budget and needs, it's the area Im concerned about.

Jie Bie - thanks for all that detailed advice. Re walking through at 3am, it had crossed my mind that there's prob a lot of people passing through during the weekend nights since it's a "main street"..obviously a lot of drunk behaviour, shouting etc as well I guess. Re safety of a girlfriend, I actually have a boyfriend but as I plan to live alone it's still the issue of if it's a good idea/safe to be coming and going in the late evening. Re recent arrivals I had noticed a lot of Asian people in the surrounding area, which didn't bother me if they had been here for many years or even born here but if the area is flooded with recent arrivals from abroad (whether Asia or eastern europe) I've seen firsthand through friends in Govanhill what it can be like living in an area like that. As for the big LHA block that had been off-putting already.

I guess I should have thought there must be a reason a flat so close to city centre was £80k.

Anyway thanks to all for the advice, i plan to just carry on saving up over the next 2-4yrs and hopefully house prices will continue to stagnate and hopefully crash further down, too many are still ridiculously overpriced and I wouldn't dream of paying what people are asking (close to mid-2007 prices still in some places it seems but not selling). I have £10,000 so far and was thinking a 20% deposit of say £90,000 would be £18,000. Plus ~£4k for all furniture (still live with parents) and £1.5k for fees, giving total of ~£23k meaning I have a long way to go, do these figures sound reasonable?

Edited by blondeguy123

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I guess I should have thought there must be a reason a flat so close to city centre was £80k.

Anyway thanks to all for the advice, i plan to just carry on saving up over the next 2-4yrs and hopefully house prices will continue to stagnate and hopefully crash further down, too many are still ridiculously overpriced and I wouldn't dream of paying what people are asking (close to mid-2007 prices still in some places it seems but not selling). I have £10,000 so far and was thinking a 20% deposit of say £90,000 would be £18,000. Plus ~£4k for all furniture (still live with parents) and £1.5k for fees, giving total of ~£23k meaning I have a long way to go, do these figures sound reasonable?

Your figures sound about right to me, except I'd question the need to save up £4k for furnishings before moving in. Put it like this, if you have a mortgage arranged and you see a place you like, but you havent yet saved the cash up for furnishings are you really going to pass on it? Better to bite the bullet and buy it and concentrate on fitting it out as time goes by once you've moved in. Provided the property itself represents good value of course.

I mean if you did buy without such a "furnishings fund" there's plenty of charity shops out there stacked to the walls with second hand furniture that will do a turn until you can afford to kit it out how you want it. Friends and relatives would no doubt be able to help out too, its amazing the amount of stuff you can get offered when you're chatting to people you know about your plans to move.

Regarding the deposit, you might want to take a look at the Clydesdale bank 90% mortgages that are available just now, they are offering a three year fix at 5.99%. Although I don't think there would be any harm holding off until the new year, as I don't think prices in Glasgow will be going high again any time soon. It all depends on how much you want to get your own place. Yes, the interest rate is high, especially compared with those lucky sods on mortgages tracking the BoE base rate. But the banks don't seem to be competing with each other very well just now for our custom, and interest rates only have one direction in which to go.

At the very least I'd suggest you go and view a few places, even the place you linked to in your OP. Doesn't do any harm and will help you get a feel for the market. Two other recommendations, make sure you always check the Scottish Assessors Office website for any property you view to find out the council tax banding and make sure you find out what any factors fees or service charges are if you are buying a flat. You'll be surprised at just how prohibitively expensive both are for new build blocks - I remember viewing a 3bed flat in a recently built block last year in the southside that was a Band G!

One final piece of advice for buying in a block, whether its old or new, and that is if the majority of flats are owned by landlords who let them out then exercise caution. Trust me, its better when the owners have to live in the building as you'll find any shared areas are kept in much better nick. Landlords only care about getting the rent cheque on time, and many landlords won't chip in for any extra costs for maintenance unless they are virtually forced to.

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[quote name='Lagansider' date='14 August 2010 - 09:15 PM' timestamp='1281816937' post='2671001'

Also, do a quick search to try and ascertain if any are advertised as 'short-term' or 'corporate' lets - which can from my own experience, be a nightmare for an owner occupier to have as a neighbour.. This means your neighbour changes on a regular basis, not helping block stability, and far from being 'corporate', the lets can be groups who are over to party for a couple of nights, even midweek, with little regard to neighbours at 4am... If you do a search on Gumtree etc as well as the property sites you can usually find them..

This is great advice. As hotels are less and less keen to take stag/hen nights. hard up BTLers have been renting them out as party flats. Believe me, you don't want to be living next to one.

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Thanks, yes - from my own experience it is not pleasant at all...

Also, in extreme circumstances, there is a certain profession that 'tours' cities and likes to avail of short-term rental upmarket (and not so) apartments in order to market their services... The property is booked by a respectable 'front', but again it is the neighbours who have to bear any 'collateral damage' from the activites of the 'guests', and of any flow of patrons...This brings with it security concerns... Again, and as Mancgirls alludes to, hard up BTLer's and the likes of social networking type adverts where less stringent checks may be in place can easily fall victim to this, however even 'premier' EA's can be caught out too, by the 'front' plus also they are keen to get a rental... All in all - do a lot of research before buying, esp an apartment....

Yes, that's another good point. I remember a couple of years back the local Polis nicking large numbers of young ladies for 'trading' out of rented residential premises (three of them were in the next street to where I then lived). Ah, Leith....

The 2 bed 2 bath 'luxury apartment' seems to attract all the wrong types of people.....

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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