Bass Buildings At Rv

[MrCool]

Hello Folks,

This is my first post on the forum..so, please go bit easy if I sound contrary to the opinion of the majority here.

I have been renting in Belfast for 5 years now. Been quite happy with the flexibility that I could move anytime. However, just getting bit tempted now with valuations of some city centre apartments.

Please don't ignore the post by branding me a bull. Offer your advice please.

I bid for an apt in bass buildings at RV. Though the landlord hasn't agreed to the bid, he came down pretty close to it.

BTW, RV for 2bed is 130K and 3bed is 140K.

With 20K deposit,

(interest on mortgage + rates + mgmnt fee) = my current rent.

(The above calculation is based on a tracker baserate+0.85%; I have an agreement in principle for this mortgage

prior to the recent rate cut. If the offer is withdrawn, I'll be back to drawing board)

One of friends sold a 3 bed apt in bass buildings for 235K in 2007. He had bought it for 150K in 2003.

1. What do u think of the apts at RV value? It appears to be atleast 40% below the 2007 price.

2. The purchase price in 2003 was 150K; but the RV set in 2005 is 140K. Is RV a conservative estimate of the prices in 2005? May be my friend would have got bit aggressive in bidding.

3. Any comment on the construction quality of bass buildings?

4. When do u think the interest rates would go up?

Thank you

[pootle]

The only honest advice anyone here can give you is that if you have done your sums (only you know what your income and expenditure is) and you believe you can afford to purchase the flat then the question you are left with is "should I?"

Well assuming that you can afford it the answer to whether you should buy it or not depends on how you see your life going over the next 5-10 years. Are you going to get married (perhaps you already are), or maybe you might have kids. Perhaps you might want to change career.

Think deeply about what you want and whether buying one of these flats gets you closer to your goal. Good luck with whatever you decide.

[sophia]

Hi,

I used to live in the Bass Buildings.

If the ap't is to the back of the building ie overlooking the forecourt, do yourself a favour and don't bother!

I lasted 6 months there and that was long enough.

Also other issues that I have posted about on this forum before............ at the end of the day it is your decision...... I wish you all the best!

[MrCool]

Think deeply about what you want and whether buying one of these flats gets you closer to your goal. Good luck with whatever you decide.

The (repayment) mortgage payment would be about 1/4 of my net income. I think I can certainly afford this amount.

BTW, I'm married. She is fine with the apt.

You raised good points about future goals. I have so far been doing pure maths; not looking at far ahead. Thanks for your comments.

[MrCool]

Hi,

I used to live in the Bass Buildings.

If the ap't is to the back of the building ie overlooking the forecourt, do yourself a favour and don't bother!

I lasted 6 months there and that was long enough.

Can you please elaborate? The one that I'm considering is on the top floor and overlooking the forecourt.

Were you fed up with seeing the other arm of bass buildings every morning? or were there any other issues?

Thanks

[sophia]

Can you please elaborate? The one that I'm considering is on the top floor and overlooking the forecourt.

Were you fed up with seeing the other arm of bass buildings every morning? or were there any other issues?

Thanks

1. Noise - the noise echoes around the forecourt, people shouting out of windows, coming home drunk in the early hours fighting, throwing bottles. Then you get the constant fighting between the people who are trying to get some sleep - shouting out of their windows at the other people who are up partying all night! It is crazy. this was every night - not just a one-off!!!

If someone is playing music in their ap't and has a window open it echoes around the whole forecourt.

Helicopters overhead - the noise is mad!!!!

2. The main door - this was broken quite alot.

3. Lifts - also broken quite alot.

4. Other dwellers..... security cameras outside their door, domestic violence - you can hear the rows, the physical fights - I was

quite disturbed. Loads of students who just party all night long - not good if you have to get up to work during the week!

Let me just say, I have not led a 'sheltered life'. I lived in student accomodation for over 4 years........ I've lived in some 'dives', but this place was by far the worst!

Anyway, it is your decision, but not the kind of place for a married couple in my opinion.

[subby]

Some students I know say that they can't stay there any longer with the noise and anti-social behaviour and they are students!!!

I'd suggest buying somewhere else imo....btw I work in a university and I know these students....they aren't exactly glowing halo types either and if they say it's bad........

hello and welcome to the forums

Edited November 7, 2008 by subby

[Ulidia]

Any comment on the construction quality of bass buildings?

I'm not sure as to the underlying construction quality. However, the apartments at Central Park (in the adjacent street) are finished to a considerably higher specification and more spacious. The apartments I've been in @ Bass Buildings have all been very crowded / boxy and the building does not seem to be particularly well maintained. Central Park is being well maintained, probably in part due to the commercial establishments on the ground floor.

IMO, if your determined to purchase an apartment right in the heart of the city centre, Central Park would deserve serious consideration ... so long as the price is right.

[JoeDavola]

In my opinion, the rateable value of that is far too expensive for what it is.

Is it essential for you that you live in the city centre?

[MrCool]

In my opinion, the rateable value of that is far too expensive for what it is.

Is it essential for you that you live in the city centre?

I work in city centre. I like to live at about 30 min walking distance from work place. I enjoy the walk to workplace and the thought process that goes on while walking

I use my car only for weekend outings.

The one thing that I liked about the apt in bass buildings is that its size. Its about 970 sq. ft. I wouldn't term it as spacious, but I haven't come across many apartments in and around citycentre in that price range offering as much space.

Thanks for your caring to reply

[MrCool]

Thanks a million Sophia. The first hand experience is immensely useful.

Your experience has certainly made me to give a second thought to it.

[JoeDavola]

I work in city centre. I like to live at about 30 min walking distance from work place. I enjoy the walk to workplace and the thought process that goes on while walking

I use my car only for weekend outings.

Totally understandable - however a half hour walk probably gives you a decent choice of places to chose from. You should try the new google maps plug in on property news and see what is available within the kind of radius around your work that would take half an hour to walk to.

[shipbuilder]

In terms of price, given that we are at the beginning of a recession and that prices have only been dropping for about 1 1/2 years out of a possible 3+, I would say that, in my opinion, prices will drop further, or at least more apartments will drop to around RV, giving you a better choice. it should also be noted that the choice of apartments close to the city centre has increased since 2005, which would also affect prices.

Having a look round Propertynews, in most areas there are still only 1 or 2 houses that are approaching where they should be in terms of price - that tells me that things are only starting to move downwards.

Of course I am no expert and there are a number of factors affecting such a decision. 30 minutes would take you quite far out of the city centre.

[Malthus]

Thanks a million Sophia. The first hand experience is immensely useful.

Your experience has certainly made me to give a second thought to it.

Plenty of these for rent

http://www.propertynews.com/results.php?c=r&Location[]=756&ph=&MaxPrice=&Bedrooms=&CType=cs&x=42&y=28

why not take one for 6 months and check it out ? could save you a lot of money either way

[YoungFTB]

I would seriously consider waiting for one more year.

The UK is going to be the hardest hit country in europe and Northern Ireland is going to be the hardest hit country in the UK.

Northern Ireland is going to be the hardest hit country in europe by a long stretch, by the end of 2009 there are going to be a lot of forced sellers with up to 50,000 people expected to be made redundant in NI.

I don't know about the Victoria Place Apartment Block but it may be better than the Bass Building

Here is a 2 bedroom for £140K

http://www.propertynews.com/brochure.php?r...=1&sort=h2l

If you feel that you must buy a place sooner rather than later then I think you should consider putting in low offers

Oh and welcome to the forum!

Also with apartments you should really do your research, find out the ratio of apartment owners to renters in the buildings that interest you. I think the general rule is the more apartments owners in a building, the less problems you'll have. High percentage of renters in an apartment block = more problems.

Example - College Central Apartment building

2 bedroom £115K

http://www.propertynews.com/brochure.php?r...=1&sort=h2l

Not I bad price at the moment (personally I wouldn't pay it) but my understanding is this block was a BTL (Buy To Let) hotspot and most of the apartments in this building are rented out. Just type in "College Central" into Property News search to see what I mean, 26 apartments show up

Like has already been suggested, it would be a very good idea to actually rent in the apartment building you want to live in for 6 months to make sure you like the area.

Good luck mate, hope this info is useful

Edited November 7, 2008 by YoungFTB

[tara747]

Plenty of these for rent

http://www.propertynews.com/results.php?c=r&Location[]=756&ph=&MaxPrice=&Bedrooms=&CType=cs&x=42&y=28

why not take one for 6 months and check it out ? could save you a lot of money either way

I agree with all the advice here but this one most of all.

One more thing: are you planning to have children? If you are, I would seriously consider a house rather than a flat.

I work near the BB and walk past it a lot, it is a noisy h*le and I don't like the look of some of the people I see going in and out. Also, I believe T*tty von Tramp is its most famous resident - allegedly.

[Ulidia]

Also, I believe T*tty von Tramp is its most famous resident - allegedly.

Titty von Tramp does live there and has done so for a number of years .... although she's a bit on the tall side and her voice is a bit deep for her appearance, she is actually very friendly and is respectable. I'd be happy enough with her as one of my neighbours

[tara747]

Titty von Tramp does live there and has done so for a number of years .... although she's a bit on the tall side and her voice is a bit deep for her appearance, she is actually very friendly and is respectable. I'd be happy enough with her as one of my neighbours

I've met her a few times, that was actually my 'pro' to balance out the 'cons' of the Bass Building!!!

[MrCool]

Thank you all for taking time to advice on my 'adventure'. Having reconsidered all the issues raised and spending personally some time during the weekend at bass buildings, I must say I have decided to back out from the apt in bass buildings.

Thank you all for helping me make the decision. I'm quite optimistic that its the correct one.

[Malthus]

Thank you all for taking time to advice on my 'adventure'. Having reconsidered all the issues raised and spending personally some time during the weekend at bass buildings, I must say I have decided to back out from the apt in bass buildings.

Thank you all for helping me make the decision. I'm quite optimistic that its the correct one.

Good luck , i think you'll find holding off for 12 to 18 months is as near to a one way bet as you'll ever get

[JoeDavola]

In a moment of madness I considered an apartment in bass buildings - but searched this site first and found this topic from 'back in the day'. Thank heavens I did!

[JoeDavola]

On 02/05/2015 at 08:59, JoeDavola said:

In a moment of madness I considered an apartment in bass buildings - but searched this site first and found this topic from 'back in the day'. Thank heavens I did!

And here we are several years later in the midst of the current boom - another BB apt came up and I googled it again to find this topic, again....see you all again in 2030

[Ulidia]

On 10/03/2022 at 18:07, JoeDavola said:

And here we are several years later in the midst of the current boom - another BB apt came up and I googled it again to find this topic, again....see you all again in 2030

Bass Buildings was looking incredibly tired by 2007 / 2008 so suspect it is even worse now than then.  

[zepplinzizzerman]

Does anyone know if there is an issue with cladding in the Bass Buildings?

[satsuma]

My general feeling is you would regret buying an apartment in the centre of Belfast, there are many issues.  Its cheap in this market as no-one wants its.