James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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As property is so expensive round here I'm having to be quite flexible when i'm looking. I've found the following flat which IMO is very good value for the area.
http://www.foxtons.co.uk/search/walled?order_by=price+desc&search_form=map&per_page=10&search_type=SS&property_id=199263&submit_type=search
It needs a little work but it is "livable" at the moment. 2 bed flats in the area generally go for around £175k, I can only assume it is so cheap because it is above a shop.
The rooms are very good sizes, kitchen is maybe a little small but on the whole it looks good.
What disadvantages are there to living above a shop?
James
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Edd
Member
Registered: 8th Nov 04
Location: Glasgow
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mortgage's can sometimes be difficult to get on them
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Ally
Member
Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
User status: Offline
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My mate lives above a shop and has no problems, they get no noise (its like a spar shop) and the heat from the shop always keeps her flat warm so they dont have the heating on 
Down side, the door that leads up the stairs to the flat is right next to the door for the shop and its on a busy road so there are always people hanging hanging around by the door, the shop is open late so there are people hanging about after dark, they get people knocking the door then running off
the second bedrooms in that are on the higher level so noise wont be a problem, the sizes are good
More of a masionette tbf
Looks good to me but Edd has a point about the mortgage - ring and ask
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Hammer
Member
Registered: 11th Feb 04
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Mate has a maisonette above a shop, no questions were asked afaik.
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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Well TBH I just had a look on money supermarket and the difference in monthly repayments between £150k and £175k is like £150 so perhaps I should just wait for something better.
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Ally
Member
Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
User status: Offline
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Have you checked to see how much you can actually borrow on your own?
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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Not yet, i'm basing it on 5 times my salary at the mo which might be a bit hopeful 
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richardworrall
Premium Member
Registered: 20th Sep 05
Location: Derby
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thats very hopeful, youll only get that if you have a 100% perfect credit history with absolutely no debt at all.
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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quote:
Originally posted by richardworrall
thats very hopeful, youll only get that if you have a 100% perfect credit history with absolutely no debt at all.
Other than my student loan, I do have 100% credit history and no debt.
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richardworrall
Premium Member
Registered: 20th Sep 05
Location: Derby
User status: Offline
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have you checked it on experians website?
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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most people get offered 4x their income. I had a A1 credit score & got offered 4x.
Living above a shop - depends what kind of shop tbh, noise would be the main factor, are you going to get woke up at 6am every morning with deliverys etc
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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quote:
Originally posted by richardworrall
have you checked it on experians website?
902 out of 1000, is that good? 
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Mark Petty
Member
Registered: 26th Jul 01
Location: Bournemouth Drives: Suzuki gsf600
User status: Offline
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You do have to be careful as if the shop has a food licence you could be living above some sort of take-away.
This will be a right bastard to sell (if a take-away is below)
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