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Buying your own property in London


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4 hours ago, Thizz said:

Poorly made.

 

They go up in like a few weeks it's all shit ready made stuff. Just slots in like Lego. 

thats pre fab, no?

pre fabs are meant to be better than new builds by these national housebuilders ad a lot cheaper

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But then you're living in Luton

Alot of fraff being talked about in this thread.   I bought my first property in November 2013 so can give you the low down 1st hand. I bought a 1 bedroom flat in South London (Zone 2) within a 3 mi

Christ you really are a dumb, jobless, penniless c*nt.   Go sell weed nig nog

The most fuckry thing about new builds, shared ownership and affordable housing quotas is how in developments, the affordable housing/shared ownership flats are always separated from the other 'normal' blocks and built to different specs. 

Greed <<<<<

Greed >>>>>

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i work on new builds. cheap materials, bricks are cheaper (I've kicked over walls by accident)

plasterboards (I've punched through them)

plastic pipes (I'm a plumber and we use plastic only copper where it comes out the walls so you wouldn't know)

foundations are some spongy thing (was looking at them today throwing them down actually, but maybe old houses used them too i wouldn't know)

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16 hours ago, lilwarrior said:

i work on new builds. cheap materials, bricks are cheaper (I've kicked over walls by accident)

plasterboards (I've punched through them)

plastic pipes (I'm a plumber and we use plastic only copper where it comes out the walls so you wouldn't know)

foundations are some spongy thing (was looking at them today throwing them down actually, but maybe old houses used them too i wouldn't know)

This is something I remember hearing about quite a few years back but I wonder why it doesn't put people off if buying. I wouldn't want to live in a house that is cheaply made considering that is going to be something I spend a chunk of my life paying off.

I do want to get a property a rent it out but at the same time I don't like the idea of being a landlord and having to chase people for money I'm owed.

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Just now, Em Dott said:

This is something I remember hearing about quite a few years back but I wonder why it doesn't put people off if buying. I wouldn't want to live in a house that is cheaply made considering that is going to be something I spend a chunk of my life paying off.

I do want to get a property a rent it out but at the same time I don't like the idea of being a landlord and having to chase people for money I'm owed.

People just wanna get on the ladder man. 

Some people just want more stock on the portfolio. Some of these propties have not been visited by this investors.

 

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3 hours ago, Afroman said:

People just wanna get on the ladder man. 

Some people just want more stock on the portfolio. Some of these propties have not been visited by this investors.

 

Plus a lot of these new builds are in up and coming areas and likely to increase in value, so if you're only there for 3-4 years the quality of materials ain't that big a deal.

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16 hours ago, yhfam said:

So for investment purposes it is a no go then?

No, you can do, they look good, always in tip top condition when you get them, but the first couple of months you'll be sorting out repairs (which the house builder will pay for)

then after maybe 10 years you'll have repairs again, most of our materials have 10-30 year guarantees and these days a guarantee/warrantee really means that amount of time and not a minute more. 

but during that time you can make good money but it won't be for a long time. 

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TBH just because of what i see/know i wouldn't touch new build unless i actually had no other option. Or i chose the materials myself (which I've never seen anyone do before but i guess cos they don't know what they're looking at)

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Semi off topic. 

Whats buying abroad saying (Europe apartments) I know someone on here was in the process of doing that on here?

I was in algarve last weekend chilling at friends uncles apartment. He took us around and was showing some new apartments that were going for decent prices. He said they were offering 100% mortgages on alot of them. Could be worth a sniff.

Sea front, nice weather, night life, quiet when needed. Airbnb friendly

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On 2017-5-6 at 3:11 PM, lilwarrior said:

TBH just because of what i see/know i wouldn't touch new build unless i actually had no other option. Or i chose the materials myself (which I've never seen anyone do before but i guess cos they don't know what they're looking at)

I bought a new build about 6 years ago. In your opinion you think i should consider selling in next 5 years?

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On 06/05/2017 at 3:45 PM, Afroman said:

Semi off topic. 

Whats buying abroad saying (Europe apartments) I know someone on here was in the process of doing that on here?

I was in algarve last weekend chilling at friends uncles apartment. He took us around and was showing some new apartments that were going for decent prices. He said they were offering 100% mortgages on alot of them. Could be worth a sniff.

Sea front, nice weather, night life, quiet when needed. Airbnb friendly

Portugal & Spain are the best two places in Europe to invest in properties.

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On 5/6/2017 at 2:22 AM, Afroman said:

If you also do buy to rent, avoid DSS tenants. They are the worst type of scum you can ever house and the law favors them.

Yeah a lot of DSS people have screwed it up for everyone else as I'd never ever rent out any of my places to them. Friend when he brought his 5 bedroom place needed tenants, so rented to two people on DSS. One was a white chick who stopped paying rent after two months and would have road guys ringing the buzzer at 2-3 in the morning to come have her up.

The other guy was a Somalian brudda who actually got sectioned for his mental health, as over a few weeks he was acting weird leading up to him stripping naked and running down to woolwich arsenal town center one evening. 

The tenants I have at my two places are relatively stress free.

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wherebouts ur properties @vertigo and whats the room rate

mums rentng out a terraced three bedroom plumstead to DSS, had some nightmares but been calm for a minute

looking to sell once crossrail lands

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2 hours ago, Kuffir said:

wherebouts ur properties @vertigo and whats the room rate

mums rentng out a terraced three bedroom plumstead to DSS, had some nightmares but been calm for a minute

looking to sell once crossrail lands

One just off East Street and across the road from all the expensive new builds. It's £1,700 a month. Mortgage all paid off on that as well. That one has 2 bedrooms and three tenants. One couple and their friend.

Flat in Woolwich Arsenal, 1 bedroom, all appliances £1,200. The Woolwich one was where I lived but I'm living in Canada now so it made sense to just rent it out.

Plumstead is a good place to be renting and buying. Some nice places up there. Also more middle class types are settling there.

Crossrail has already lifted prices a bit will be interested to see the full effect.  May sell the Woolwich flat at some point. As I'm applying for Permanent residence here in Canada. So don't want to be handling two properties. Plus that money can be put towards a place here.

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15 hours ago, Kuffir said:

wherebouts ur properties @vertigo and whats the room rate

mums rentng out a terraced three bedroom plumstead to DSS, had some nightmares but been calm for a minute

looking to sell once crossrail lands

mum will make a killing 

wait at least two years after cross rail

plumstead/ abbeywood is reaping the benefits 

 

 

/vertigo you used to live in royal A- what buidling have a feeling its 50?
 

 

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Just bought a new build house off plan. We've been to a few developers and the build quality differs depending on factors like the size of the property, who the developer is etc. I found apartments to be more likely to be poorly made than houses. Developers like Persimmons and Taylor wimpey notorious for poor quality. My developments on Phase 2 so I've seen my home in similar styles and it's not made cheaply. A snagging inspection cost a few bills and forces the developer to iron out any issues before completion. 2yr developer warranty covers you further and 10yr NHBC warranty covers you structurally from there on. Got a few things thrown in on exchange, upgraded kitchen, fitted wardrobes, premium flooring etc. Which means I move straight in to my agreed spec. and furnish where needed rather than with a traditional home id be starting at 15k + for the refurb. As with anything in life there's pros and cons and circumstances.

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