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Sylvester83

Bow - New Built

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Do you think is it a good idea to buy in Bow near Victoria Park (Roman Rd)?

is a development of new built that will be also used for shared ownership and affordable renting (there are 5 blocks). Is this a nice way to call new Council block? I am foreigner so I do not know.

Is quite an affordable set of flats considered that the area is shooting up in prices and I saw similar floorplan sell for 320 or more.but is surrounded by council houses that makes the environment a bit sad but not too bad.

Is Bow an area which will become better and better and loose that feeling? is a regeneration plan setted up?

I've been looking for 1 year and I do not want to miss another opportunity as 1bed flats go away like candies.

Reading this forum froze my enthusiasm though.

Does anyone know if those kind of new built are well sound prooved? how are they built? when knocking to the walls it looks like they are made of paper, I hope that this is just a layer and that that an actual wall is built atleast between adjacent flats. Matketing suite never know much about it they just want to sell.

Anyway how you feel in general about new built? the new regulations must have made them become quite a good quality construction?

English feeling is that old houses are always the best, but I do not really trust a house build hundreds of years a ago with squeaky floors, cracks, and floors far from being straight.

I will put 70k deposit that for 260k flat would make it quite a cheaper living than renting! just looking for that reason more that will convince me to buy despite all the bad points (buying at the propert bubble peak, bad quality of houses compared to the price)

Thanks for any reply!

Stefano

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How long do you intend to say in your 1 bedroom flat?

Well I would like to live in London forever really.. workwise I might need to commute to midlands if I loose my current job in few years time.

But yes let's say atleast 3 years. Then I can always rent it, can't I?

What are the costs involved owning the 1 bedroom flat?

It is 1000£ service charge and 200 ground rent per year. Quite cheap compared to other I saw so far.

What would a similar 1 bedroom flat cost to rent per year?

They forecast this place would rent between 265-300 per week

Thanks

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I don't know much about new builds/shared ownership - but I have to say, I really like Victoria Park/Roman Road. Great area. Lots of nice pubs, cafes and restaurants. There's also Victoria Park, the canal, good transport links. Loads of investment going on just up the road in Stratford. Roman Road market is also very good - a proper market, not just open air tat stalls like some London markets. Neighbouring Mile End was a hellhole until very recently. Much better these days.

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I don't know much about new builds/shared ownership - but I have to say, I really like Victoria Park/Roman Road. Great area. Lots of nice pubs, cafes and restaurants. There's also Victoria Park, the canal, good transport links. Loads of investment going on just up the road in Stratford. Roman Road market is also very good - a proper market, not just open air tat stalls like some London markets. Neighbouring Mile End was a hellhole until very recently. Much better these days.

I'd agree with this. Bow was still a bit rough when I moved there in the late 90s (murders and assaults not that uncommon). Gentrified a lot since then and about as countryfied as Zone 2 gets. The River Lea, nearby canals and Victoria all help make it feel not too hemmed in. Stratford used to be a bit of a dump, but again has improved with the Olympics. Fingers crossed it stays that way.

If I had to live in London again (and I pray I don't have to), Bow would be close to the top of the list.

One word of warning, the new build flats in Bow Quarter were practically unsellable in the 90s crash. Hard to believe nowadays, of course.

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I'd agree with this. Bow was still a bit rough when I moved there in the late 90s (murders and assaults not that uncommon). Gentrified a lot since then and about as countryfied as Zone 2 gets. The River Lea, nearby canals and Victoria all help make it feel not too hemmed in. Stratford used to be a bit of a dump, but again has improved with the Olympics. Fingers crossed it stays that way.

If I had to live in London again (and I pray I don't have to), Bow would be close to the top of the list.

One word of warning, the new build flats in Bow Quarter were practically unsellable in the 90s crash. Hard to believe nowadays, of course.

:lol:

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We had a look at a flat in Bow Quarter when we were renting back in the 90s. It was enormous - but in the wrong way. Tall enough for a giraffe wearing a top hat, but long and thin with a huge window overlooking the train tracks. The same evening we looked at an ex-council flat behind Mile End station. Rejected both, mainly because the area felt very unsafe back then. Wouldn't think twice now.

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hey thanks a lot for the comments, helped me to be a bit more convinced.

Barbarossa are you Italian?

still not quite convinced from new built though.. they look nice the first few years.. but then? maybe better a conversion

Is not Bow Quarter which I agree are fake one Bed... more sort of strangely proportioned studios.

This is a new development between Cardigan Road and Roman Rd.

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still not quite convinced from new built though.. they look nice the first few years.. but then? maybe better a conversion

I'd agree with this. Some of the new builds in the area have aged very badly - even just a few years after they were built. I remember seeing one near the end of the Greenway which ended up looking like a soviet era housing block.

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I'd add that new-build places tend to carry a premium, a bit like a new car. Even if the construction is good, they devalue as soon as the first owner moves in, because they are no longer shiny, pristine and untouched, they are now second-hand.

I would prefer older places, from an aesthetic point of view, but also because they don't carry this premium and if there are any serious construction problems they would usually have become apparent by now. If it's a flat though, purpose-built (whether new or old) is better than a conversion in my view. Flats in converted houses tend to have the worst sound-proofing.

However, all this is personal opinion, and there are good arguments in favour of new-build stuff.

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