House or flat?
Wed, 04/28/2010 - 12:07
by spiralstaircaseWe're looking at buying our first home. A 1-bed house in our area is going to cost 150k; a 2-bed flat we could get for 110k. It looks like after 5 years we'd have paid off so much more on the flat that we'd have a much bigger deposit and we'd be able to move into a much better second home. But that's assuming that houses and flats will rise or fall together.
Is that assumption fair? If house prices go up 10%, does the same happen to flats? What about if they fall?
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How I can monitor house/flat prices in London ?
Are there any web sites or papers that I can use to monitor house and flat prices in London ?
(I've got plans to buy a flat on 3-6 months time).
Thanks in advance for any answers!
Try this website: ourproperty.co.uk
It lists all the properties that have been sold in the last couple of months and confirms the price at which they sold. Their information is obtained from the Land Registry which is why it takes a little while to log properties as they have to wait for the new purchase to be registered, but you have the advantage that you can choose a particular road to search, rather than giving a ballpark figure for a district.
You do have to register your name but this is free and you are not bombarded with junk mail from them. You can also get monthly updates as to the final sale price of houses in your chosen area.Where can I find a house/flat to rent in Coventry?
I currently live in Spain and my husband, my cat and myself are moving back to the UK in 12 weeks (18th October) We are looking for a 2 bedroom house or flat to rent which must be within walking distance of the city centre, does anyone know of any websites which are not through estate agencies ( ie private rentals) or does anyone have a property to rent? ( max 500 per month). Hope someone can help!
try the site belowWhere is the best place to look for a house/flat share in Bristol, UK?
I am looking for a flat or house share in Bristol to begin next weekend with a max budget of £350/mth (incl bills) which is within a 15 minute walk of the Clifton Triangle at the top of Park St (Clifton/Redland/Hotwells/Cotham etc).
Do you know the best places for me to look? I have already tried Gumtree, Spareroom, ClickFlatmate and EasyRoommate!
St Paul'sCan a tourist buy any UK house/flat that is listed on Rightmove.com?
I was just wondering whether or not a tourist from the U.S. is allowed to buy any UK property that is listed on the UK real estate Rightmove.com. I am a U.S. citizen who is planning to visit the UK 4-5 months a year as a tourist and I want to buy a house in the North of England using the website rightmove.com
I will be staying in the house during my 4-5 month visits to England instead of staying in a hotel.
You certainly can.
There is no guarantee you can live in it if the border officials think you might overstay or work. It doesn't give you access to services such as healthcare, you need private insurance for all that.What is the main colour scheme running through your house/flat etc?
In my flat it is cream, white or beige
Cream and then each room has accent colours. Lounge is cream and gold. Bedroom cream and pink, Hall cream and duck egg.Do I need to be in a house/flat to claim housing benefit?
I live in London at the moment; and I am living with my parents.
I was wondering if I had to be in a place of my own to be able to apply for Housing Benefit, or if it was possible for me to approach an estate agents and explain I want to live in a flat they are offering for rent however I am going to be claiming housing benefit.
And if the estate agents would be obliged to hold the flat or would they be able to give it to somebody else?
As a single person you are only entitled to the rate for a room in a shared property which even in London is only around £90 a week.
Letting agents are not required to hold any property whilst you enquire about benefits.do you live in a house, flat, apartment or other?
argh! no heating! razz u must b freezing ur anus off!
Im living in a flat atm but gotta move v soon to a house. such a performance though!
Three story house that violates building code - shhhh...Would you recommend shared house/flat as accommodation for university?
Hi
I'm starting my first year at university in September this year, and I didn't get a place in halls accommodation, so my next option is is to live in a shared house/flat.
Have you lived in (or know someone who has) shared house, would you recommend it?? Is it a good idea??
Whats the pros and cons??
And also, on average, how much extra a week would the bills cost?
All opinions and views are welcome!
Thanks
It can be brilliant or hell-depending on who you live with! I've lived in a shared house as have most of my friends at some point. Yes I would recommend it-it's part of life education and can be great fun, giving you a taste of independence. Rows usually erupt over things like chores so it's a good idea to set down some ground rules and set out who does what at the beginning.
When budgeting for bills it can vary according to how much you have the heating on-again something you need to negotiate with housemates- or the size of the house. For a small terrace I would suggest saving an extra 30-40 pounds for gas & electric, the same for water and depending on tv/internet/phone your other packages may well vary. Enjoy the adventure!Can an international student or a tourist buy a house/flat in UK? If yes, does that make him a PR?
Just for enquiry. I have no intentions of doings so. I was curious that's it.
Can an international student or a tourist buy a house/flat in UK?
Yes, anyone can buy a house in the UK, you don't even have to live here.
If yes, does that make him a PR?
No
Hi there spiralstaircase.
I personally think that if all property goes up then houses, flats etc will do the same and the same again if they come down.
Although the way things look with property prices things are still pretty high and I dont think they are going to drop to quickly just yet. I think people are holding out for that slightly better price if they can get it.
I can remember when people put 5K down as a deposit for a mortage and that was more than plenty or even better up to 10 K if you had it.
But I will say the prices for homes are really shocking in todays world.
I would say look at buying the 2 bed flat and depending where it is and what it has to offer and what the area has etc. If you make improvements to it and buy it cheap surely after time then it may be even worth more than you paid for it and get a really great sale.
Sellotape
Oliver
It sounds to me like your best bet is go for the 2 bed flat.
A bit less money to pay out and like you said at least you will have got a lot of it paid off by the time you are ready to upgrade to a larger property.
I also agree with the previous post above. Look around and see what is what. Such as shops, transport to and from work and all that sort of thing.
No point getting a really cheap place although it may be really nice you have to trek miles to get to work or stock up on coffee.
Alexender
I personally would prefer to have a house rather than a flat. At least with a house you can seperate yourself a bit from the neighbors.
I once rented a flat or two and well the neighbors were to close for me and you cold here every sound and it was like you had to tip toe around the place, but if it is in your better interest to go for a flat in a nice area you may get lucky then I would say go for it.
William
William
I agree with mountainbiker, a two bedroom house does sound like the best option. If you only have a one bedroom house you wont be able to have guests staying over (well not comfortably anyway). A second bedromm will also allow you to eliminate clutter and divide your work spaces. You will be a lot happier with a larger place, two people cramped in a one bedroom apartment can cause many problems.