[poll] Which property should we buy??

[amazak 3]

Guy's need some opinions of a different nature, basically we are torn between two properties, help us decided.

Option 1 : Flat (2 bed) very, very desirable area, New home with 10 year warranty, fully fitted kitchen.

Key features:

Lounge

Kitchen

2 Bedrooms

Bathroom

Shower Room

Central Heating

Double Glazed

Hallway

Tenure:

Leasehold, 99 years remaining

Nearest transport link

Please zoom in for local transport information.

Nearest transport link Tube: Southgate (0.65mi, 1.04km)

Railway: Palmers Green (0.55mi, 0.89km)

Airport: London City Airport (11.07mi, 17.81km)

Full description:

The current SHOW APARTMENT which is a Ground Floor 2 bedroom in the rear block with access to the courtyard and gardens to the rear.

Lounge 16'6 x 13'8 Double glazed windows to front. CH radiator.

Kitchen 8'3 x 8'0 Attractive range of Nobilia units. All appliances including dishwasher, washer/drier, fridge freezer, fan assisted oven, Gas hob with stainless steel chimney hood.

Bedroom 1 10'6 x 9'8 Double glazed patio doors to patio & gardens. CH radiator.

En-suite Shower room. Contemporary white sanitary ware with chrome fittings. Shaver point. CH radiator.

Bedroom 2 10'5 x 9'11 Double glazed window to rear. CH radiator.

Bathroom Contemporary white sanitary ware with chrome fittings. Shaver point. CH radiator.

Option 2: House (2 Bed) Same price as flat but not in an area as good as the flat. 1950 build.

Key features:

2 Gardens

Tenure: freehold

Full description:

Chain Free! This is a well maintained two bedroom semi-detached house overlooking open fields. The property is fully double glazed and has additional utility room and conservatory. It benefits from a beautifully kept secluded rear garden and off street parking for three vehicles.

Porch

Fully double glazed with tiled flooring, two wall mounted lanterns, part glazed double glazed door to:

Hallway

Radiator, single light fitting, double glazed window to side aspect, alarm control panel, under stair storage, stairs rising to first floor.

Reception

22' 4" x 9' 1" (6.81m x 2.77m) Dado rail, coved ceiling, feature fireplace with electric fire and tiled surround. Two radiators, two light fittings. TV aerial, telephone point. Double glazed windows to front aspect. Archway to kitchen, double glazed French doors to conservatory.

Conservatory

16' 2" x 9' 9" (4.93m x 2.97m) Part brick built, fully double glazed with tiled flooring, radiator, two wall lights. Doors leading to garden.

Kitchen

11' 6" x 6' 3" (3.51m x 1.91m) Mix of wall and base units with integrated 'Stoves' gas oven and hob. Space and plumbing for washing machine, space for fridge and freezer. Fitted sink and drainer with mixer taps, spot lighting, double glazed window to rear aspect. Wall mounted Bosch

'Worcester' combi boiler. Fully tiled wall, tiled flooring. TV aerial. Archway to:

Utility Room

11' x 3' 2" (3.35m x 0.97m) Fitted worktops with space and plumbing for washing machine, space for tumble dryer. Wall mounted fitted cupboards. Radiator, tiled flooring, double glazed door to sideway, double glazed windows to front and rear aspects.

First Floor

Landing

Double glazed window to side aspect. single light fitting. Loft hatch with pull down ladder, loft part boarded. Storage cupboard. Doors to bedrooms and bathroom.

Bedroom One

13' 11" (to front of wardrobes) x 8' 10" (4.24m x 2.69m) Two double glazed windows to front aspect, double glazed window to side aspect, single light fitting, radiator. Fitted, mirror fronted wardrobes. TV aerial and telephone point.

Bedroom Two

9' 10" x 9' 2" (3.00m x 2.79m) Double glazed window to rear aspect. Radiator, single light fitting. Fitted, mirror fronted wardrobes. TV aerial and telephone point.

Bathroom

Suite comprising low level WC, vanity enclosed wash hand basin, electric shower, wood panelled bath. Part tiled walls, part wood panelled walls. Wood panelled ceiling with light fitting. Radiator, double glazed window to rear aspect.

Exterior

Rear Garden (South Facing)

Approx 60'. Paved area with gate leading to path and lawn. Shrub borders with mature pear trees, garden lights, large chalet style shed and garden shed. Outside tap and power socket.

Front Garden

Off street parking for three vehicles, side gate with direct access into garden.

other info:

Flat: 0,6 miles to Tube station and 1 mile to train. Fully fitted kitchen with new appliances, 10 year warranty. One allocated parking space. Annual ground rent and service charge £1500.

House: Massive garden, ok decorative order, kitchen and bath need a refurb but still good. No appliances included. Freehold, semi detached.

Nearest transport link

Please zoom in for local transport information.

Nearest transport link Tube: High Barnet (1.32mi, 2.12km)

Railway: New Barnet (2.22mi, 3.58km)

Airport: London City Airport (15.32mi, 24.66km)

Please help, we are torn between the two and would like others opinion, both are priced exactly the same.

[rodney 17]

house has a wider appeal

[rodney 17]

house has a wider appeal

[rodney 17]

house has a wider appeal

[cabrioman 6]

think RCF likes the house lol .... house all the way mate .... driveway .... enough said ..... lol

[Ben Seabrook 4]

think RCF likes the house lol ....

pmsl - but yes mate defo the house all the extra space a nice big garden and as Tony says a drive to keep all your vw bits on !!!

[vr6newcomer 1]

hi matey, dont want to sound like im at the office but always always the house if its going to be your primary residence, heres a few points to maybe help influence you.

99 year lease, lenders are very sceptical about lending on anything with less then 75 odd years on a lease, so for re-financing or selling you will probably have to get the period extended by your freeholder, he or she will then squeeze you for as much as possible, as you wont be able to do anything without a longer lease.

flat never has the same privacy as a house

the house has potential for you to improve and add to with an extension, loft conversion, new kitchen, e.t.c, e.t.c, the flat allthough looks very pretty now is probably at its maximum value allready, and considering the current economic/social climate, is very unlikey to increase in value as a consequence of a rising market, as house prices in london, and particularly around north london have fallen about 10 to 13% this year allready, also if you pay top dollar for the flat and prices continue to drop for say another one and a half to 2 years, there's a serious risk of ending up in negative equity, then you will be sitting in an overpriced pretty flat, with no opportunit to expand and improve on it.

hope this helps

[amazak 3]

hi matey' date=' dont want to sound like im at the office but always always the house if its going to be your primary residence, heres a few points to maybe help influence you.

99 year lease, lenders are very sceptical about lending on anything with less then 75 odd years on a lease, so for re-financing or selling you will probably have to get the period extended by your freeholder, he or she will then squeeze you for as much as possible, as you wont be able to do anything without a longer lease.

flat never has the same privacy as a house

the house has potential for you to improve and add to with an extension, loft conversion, new kitchen, e.t.c, e.t.c, the flat allthough looks very pretty now is probably at its maximum value allready, and considering the current economic/social climate, is very unlikey to increase in value as a consequence of a rising market, as house prices in london, and particularly around north london have fallen about 10 to 13% this year allready, also if you pay top dollar for the flat and prices continue to drop for say another one and a half to 2 years, there's a serious risk of ending up in negative equity, then you will be sitting in an overpriced pretty flat, with no opportunit to expand and improve on it.

hope this helps

[/quote']

Thanks for the helpfull comment. Initially we wanted a 3 bed house but then realised that affordabilty was an issue (we have two kids, boy and girl 7 and 8 years so they need their own rooms soon) Our intentions was to buy the flat then probably sell in around 3 years or 2012 and hope to make a profit so that we can then buy a house we always wanted (3 bed). Now when we were offered this house at the same price as the flat then it became a bit of problem making the decision. Also the house is located near open fields which could possibly cause security threats to the family, also the owner has fitted an alarm system which raised my eyebrows! Furthermore a quick estimatation on loft size it was discovered that it is around 2 metres in size which according to my research will be an issue as 2,4 m is around the min acceptable size for planning permissions to be granted regarding lofts so no third bedroom. Also if we do buy the house then we will probably sell in three years so which do you think is a better return investment??

Here is the location link

http://www.multimap.com/maps/?qs=hackforth+close&countryCode=GB#map=51.64524,-0.22365|17|4&loc=GB:51.64524:-0.22365:17|farm%20close|Farm%20Close,%20Barnet,%20Hertfordshire,%20England,%20EN5%203

Location link to flat....

http://www.multimap.com/maps/?qs=hackforth+close&countryCode=GB#map=51.62654,-0.1237|16|4&loc=GB:51.62361:-0.1225:16|n14%206by|N14%206BY

[slim5878 1]

live out of a tent and keep the vr6!!!!!

[amazak 3]

live out of a tent and keep the vr6!!!!!

Good suggestion, I will run that past the missus, btw sorry I missed your call, Will call you tomorrow

[NicDale 0]

House all the way, Have a look at neigbhouring properties and see if any have been extended or have attic rooms, that way a precedent has been set. If similar houses have been extended then ask the estate agent what he values those currently at then ask a builder to quote for a similar extension and then you'll have an idea of whether or not its a worth while project. Simplified answer of course but you should get the idea.

Don't forget that you have no service charge with the house!

[thegoth 5]

House for me. Having people living above you can grate, especially if it's a family of elephants.

look on the open fields as a bonus not a draw back. I used to love larking about in the open space behind my childhood home. But I guess we now live in a different time.

similarly don't be put of by the alarm. it will reduce your insurance over not having it. ask the owner what prompted him to install it, actual thefts or just fear of.

new built city flats are notorious for being over valued and most areas are heading for a glut of them.

the living room is obviously two rooms knocked into one and is vast. you could re partition it to give a third bedroom downstairs, if no other expansion options available.

the garden chalet looks the perfect big boys retreat ;-)

[psymon.1000 2]

house all the way the flat is sweet but you can't beat a house!!!!

[rodney 17]

Ooo mine seemed to post more than once...

Whilst obviously you will be there for a while. The house opton is always a better option to sell. As most of the guys have said you can do what you want to it later. Extend/convert the garage /etc etc etc.

Flats especially with Kids will always mean you have to deal with the neighbours on all sides and above/below . Getting the bikes out for that sunday ride blah blah blah.

Plus the house is your own space. I never feel like lts my space no matter how nice they are.... even when I close the door! - if yo see what i mean!

So house it is then....

[rodney 17]

Not wishing to teach you to suck eggs. This has worked well for me in the past. Try it. All nice and polite with a smile...

Pop in another visit with the do I want it attitude. If yes ask to meet the current owners (get tham at this vueing if you can; under the just a couple of questions to ask on the property before we decide pretence) and negotiate there and then face to face. Usually people get all flustered and you can offer much less and negotiate. Start at least 10% lower if you have the chance.

You always get a deal. Just frount it mate...

You then have assured yourself of the deal there and then. The estate agent must then take it off the market whilst you are stood there.

If the existing owner has kids or they have left, make sure you take yours all looking sweet running in the garden saying please and thank you. That always helps the phsycology of the deal.

Quick get the offer in - its a buyers market btw...

Most people feel its rude and not terribly British. But if you dont ask you dont get .....

good luck

[goonersteve 0]

I would def go for house. One major issue with springs to mind for me is that living in a flat can feel cramped, no matter how spacious it is. With two kids in tow as well, i would def opt for the extra space and privacy a house gives you.

Also as Goth said, open fields out the back can work in your favour if it turns out to be safe in the area.

[amazak 3]

Thanks for the wise comments guy's. However the missus seems to be leaning towards the flat as she knows I cannot and will not be able to maintain a garden, let alone an entire house! Can barely keep two cars clean lol. Anyways we are hoping that the equity on the flat will grow as it has already been reduced by £50K from the original off-plan price in mid 2007. Wish us luck

[thegoth 5]

good luck mate.

[amazak 3]

good luck mate.

Thanks alot buddy! , spoke to a friend who advised to me to call the local estate agents and ask them for a current resale price and it seems we are really getting a bargain flat for the money!

All thes best, hopefully the vr does not sell lol......

[wayne_1@tiscali.co.uk 27]

i would personaly always say house but i would go for the flat the reason why is flat is in excellent location lot of big and rich families live in that particular area the hse is in a shit cul-dsac i fix all the boilers for the council in that road and all the other roads around it loads yobos and little shits hang all around the area so would stay clear unless u moved at the very top of quinta drive which is alot better

[amazak 3]

i would personaly always say house but i would go for the flat the reason why is flat is in excellent location lot of big and rich families live in that particular area the hse is in a shit cul-dsac i fix all the boilers for the council in that road and all the other roads around it loads yobos and little shits hang all around the area so would stay clear unless u moved at the very top of quinta drive which is alot better

Hello dub25,

Many thanks for that comment, you literally put our minds to rest with regards to making the right decision! We did notice that there were quite a few young looking dodgy guy's hanging about, also quite close to Dollis valley possibly why there are some baddies around!

Much appreciated.

FACT: This forum is really informative not only for vr's but property advice as well

[xyber 1]

i would personaly always say house but i would go for the flat the reason why is flat is in excellent location lot of big and rich families live in that particular area the hse is in a shit cul-dsac i fix all the boilers for the council in that road and all the other roads around it loads yobos and little shits hang all around the area so would stay clear unless u moved at the very top of quinta drive which is alot better

Yep, that would make my mind up aswell, damn hoodies and their alcopops

[vr6newcomer 1]

looking at the 2 locations youre right the fields do make you a bit more vulnerable, having said that theiving scum are normally very opportunistic, so the alarm will hopefully act as enough of a deterrant when they see it, and they will simply move on to the next house that doesnt have an alarm, having said that, you will still have that factor there when youre on your hols for example, the olny real way to put your mind at ease is to physically go round to the nieghbors, tell em you may be buying this place, and have a few concerns regarding security, and if there miserable, you probably dont want to move there anyway, drive past at odd hours of the night to see if there are any undesirables hanging about a bit too close to the house for comfort. i havent dealt with anything personally around there, but i know arkley to fairly desirable, family orientated and in answer to your question, the flat will definately not appreciate as much as the house in the next 3-4 years, so if they both cost the same, id say definately the house.

[vr6newcomer 1]

if it comes uder barnet, the council are actually qiutegood, they actully took out a load of speed humps a couple of years ago, as they were causing too much damage to local residents cars!!

i persnally dont think the flat will appeciate as much as the house, if you take a rising market out of he equation for the whole period that you own it, then in 4 years you will have had a lot more oportunity to put in a new kitchen, extension, internal decor, whereas a new build al bells and whistles flat wont really require any work in the next 3 to 4 years. also the new build boys are eally struggling at the oment, unless their completely free of any leverage, they work off phased funding, the fact that this place is discounted by such a large amount should give ou an indication of their circumstances. so you need to ask yourself that in 3 or 4 years, as a purchaser if circumstances are the same, why would i buy your 4 year old place when i can get a new place with a massive discount, deposits paid, blah, blah, blah, (same position that you are in now). so you need to measure up the potential desirability. if you want i know a good little trick to find out EXACTLY what its worth, but i dont really want that o be general public knowledge, pm me or emal saif@oeclickhomes.com.