What is the long term outlook for big apartment blocks?

[JoeDavola]

8 hours ago, MMax said:

I would be interested to know how neighbour interaction is in your current flatted property.   

I can go weeks without running into anyone quite frankly.

Though I know I hit the jackpot when I landed this flat 12 years ago as there's only 3 other flats in the corridor, none of which are airbnb's but also crucially there isn't a party wall between my living room and the flat next door (on the other side of my living room wall is their bedroom) so I don't hear a peep from anyone when I'm in my living room/kitchen.

Other flats have living rooms with shared walls and I think that could be a noise problem esp with the wrong neighbours. If I were to a buy a flat the location of party walls relative to other flats would be an important consideration.

As I sit in my 'home office' (bedroom) typing this I can hear the very occasional sound of a light being turned on or off or what sounds like a kitchen cupboard being closed a bit too hard - this doesn't bother me in the slightest, I never hear anything beyond that and certainly no voices. In fact it's kind of nice to hear a bit of life next door if it's not intrusive.

Edited April 13, 2023 by JoeDavola

[spygirl]

On 10/04/2023 at 14:59, PETR4 said:

One of my "hobbies" is being the director for a leasehold apartment block managed via a Right to Manage Company (RTM)....

If I can offer the forum two pieces of advice regarding leasehold flats it is this:

1. Never buy a leasehold flat

2. Never buy a leasehold flat

I know that is technically only one point but it's such a large one I thought I'd mention it twice!

 

Well ... theres also shared ownership (via a private LHA/company) leasehold flats too ....

 

[MMax]

I don't think I need to tell you anything else about flat living, you obviously have it sussed.

The one you are in sounds fairly ideal for you.  In time it could be available for sale, given the change in the financial environment for landlords.

As you say there are generally no kids or dogs.  We have been fortunate with no Airbnb's, parties or loud music.  It is really quiet.

It may sound improbable, but in the years we have been here we have never shared the small lift.  We live in a small block and, the only property on the top floor, so no shared access from the stairs.

When we were not living in a flat, my wife used to very frequently wake me during the night, because she listened for noises.  Thankfully that is no longer an issue.

Post Grenfell, officialdom went ott regarding 'all' cladding and combustible balconies.  We are in a lower-rise block, but I fret a little over the possibility of disruption and cost of replacement, despite the fact we don't have Grenfell-type cladding. However, it has been 6 years since Grenfell, and the useless SNP have been dragging their feet over the issue.  They haven't spent the initial tranche of money they were awarded a few years ago, and keep blaming Westminster for the delays, as is their usual M.O.

We have lived in a variety of properties both rented and private.  This one ticks virtually all of the positive boxes.  There are a few minor niggles, but as I said every property is a compromise to some extent.

If I was buying another flat, my preference would be one in a converted old building that combines the benefits of old and new.  I know of a few like this, and they still come with some compromises.

If we had a long-term tenure system like France or Germany, I would be happy to live in a rented flat, that ticked most or all of my boxes.

 

[Frank Hovis]

15 minutes ago, MMax said:

I don't think I need to tell you anything else about flat living, you obviously have it sussed.

The one you are in sounds fairly ideal for you.  In time it could be available for sale, given the change in the financial environment for landlords.

As you say there are generally no kids or dogs.  We have been fortunate with no Airbnb's, parties or loud music.  It is really quiet.

It may sound improbable, but in the years we have been here we have never shared the small lift.  We live in a small block and, the only property on the top floor, so no shared access from the stairs.

When we were not living in a flat, my wife used to very frequently wake me during the night, because she listened for noises.  Thankfully that is no longer an issue.

Post Grenfell, officialdom went ott regarding 'all' cladding and combustible balconies.  We are in a lower-rise block, but I fret a little over the possibility of disruption and cost of replacement, despite the fact we don't have Grenfell-type cladding. However, it has been 6 years since Grenfell, and the useless SNP have been dragging their feet over the issue.  They haven't spent the initial tranche of money they were awarded a few years ago, and keep blaming Westminster for the delays, as is their usual M.O.

We have lived in a variety of properties both rented and private.  This one ticks virtually all of the positive boxes.  There are a few minor niggles, but as I said every property is a compromise to some extent.

If I was buying another flat, my preference would be one in a converted old building that combines the benefits of old and new.  I know of a few like this, and they still come with some compromises.

If we had a long-term tenure system like France or Germany, I would be happy to live in a rented flat, that ticked most or all of my boxes.

 

 

Definitely echoing that the German rented model would be preferable.

A big advantage for @JoeDavola, over us mainland Brits, is that the renter doesn't pay the council tax there which is a huge plus for renters.

I have rented for the great part of my adult life, usually flats, and was happy to do so.

I was however always conscious that I didn't want to find myself renting upon retirement because that would mean rent and council tax taking a big chunk out of my pension and probably rising faster than it was.

I was therefore always planning to buy but was equally in no hurry to do , if I had retired at 67 and bought a house on the same day then that would have been fine by me.

[Option5]

On 10/04/2023 at 14:38, Covid19 and life to go said:

They'll be turned into massive laser quest type places for the elites after we've all been wiped out by the robots.

Actually, the top floor will be taken over by a survivalist armed to the teeth. He'll go out during the day as the Zombies rest.

I know because I've seen the documentary about the life of a fatty acid specialist "The Omega Man"

[MMax]

1 minute ago, Option5 said:

Actually, the top floor will be taken over by a survivalist armed to the teeth. He'll go out during the day as the Zombies rest.

I know because I've seen the documentary about the life of a fatty acid specialist "The Omega Man"

My prep and M.O.

[MMax]

7 minutes ago, Frank Hovis said:

 

Definitely echoing that the German rented model would be preferable.

A big advantage for @JoeDavola, over us mainland Brits, is that the renter doesn't pay the council tax there which is a huge plus for renters.

I have rented for the great part of my adult life, usually flats, and was happy to do so.

I was however always conscious that I didn't want to find myself renting upon retirement because that would mean rent and council tax taking a big chunk out of my pension and probably rising faster than it was.

I was therefore always planning to buy but was equally in no hurry to do , if I had retired at 67 and bought a house on the same day then that would have been fine by me.

No council tax, no maintenance fees, no fabric worries, and a nice flat, with the possibility of long tenure. - what's not to like - an ideal position imo.

[Frank Hovis]

2 minutes ago, MMax said:

No council tax, no maintenance fees, no fabric worries, and a nice flat, with the possibility of long tenure. - what's not to like - an ideal position imo.

 

Absolutely - for a time.  And that time being when you are in full time work.

The last flat I rented, two bed first / top floor masionette with separate garage in a very quiet cul de sac, was superb and I would be still happily living there today if I had wanted to stay in the same job.

When you're not working a flat is however restrictive - it's too small to want to stay in all day but you don't necessarily want to spend all day outside either.

[Wight Flight]

42 minutes ago, MMax said:

If I was buying another flat, my preference would be one in a converted old building that combines the benefits of old and new.  I know of a few like this, and they still come with some compromises.

Agreed. I lived in the top floor of this place for a few years.

Neighbours were great. Very happy times.

[MMax]

35 minutes ago, Frank Hovis said:

 

Absolutely - for a time.  And that time being when you are in full time work.

The last flat I rented, two bed first / top floor masionette with separate garage in a very quiet cul de sac, was superb and I would be still happily living there today if I had wanted to stay in the same job.

When you're not working a flat is however restrictive - it's too small to want to stay in all day but you don't necessarily want to spend all day outside either.

Some come with outdoor space as ours does.  It makes a big difference to be able to move around and enjoy the alfresco benefits of a 100% private, sun-facing terrace.  You can dine outside or have plants or even fruit, veg and herbs if you choose.

35 minutes ago, Wight Flight said:

Agreed. I lived in the top floor of this place for a few years.

Neighbours were great. Very happy times.

Looks ideal!

[Wight Flight]

1 hour ago, MMax said:

Some come with outdoor space as ours does.  It makes a big difference to be able to move around and enjoy the alfresco benefits of a 100% private, sun-facing terrace.  You can dine outside or have plants or even fruit, veg and herbs if you choose.

Looks ideal!

It was.

Though when I googled it the first thing I found was that the millpond has now become a hot spot for the local antisocials so you are just going to get drunken swearing all day long.

It was an issue once or twice a year when I was there. Now daily apparently.

 

[Option5]

2 hours ago, Wight Flight said:

Agreed. I lived in the top floor of this place for a few years.

Neighbours were great. Very happy times.

The river Wey?

[MMax]

17 minutes ago, Wight Flight said:

It was.

Though when I googled it the first thing I found was that the millpond has now become a hot spot for the local antisocials so you are just going to get drunken swearing all day long.

It was an issue once or twice a year when I was there. Now daily apparently.

 

With such a financial outlay when buying it is necessary to undertake due diligence and do the research where possible.  Unfortunately, situations also change after purchase.  This is what happened to us with cladding, unfortunately.  There was no way we could have anticipated Grenfell and the consequent knee-jerk response.

The irony is that the bulk of modern houses in the UK have Kingspan as insulation.  Kingspan was also implicated in Grenfell, but somehow has managed to avoid banning.  I regularly watch building programmes where it still is being used in all property types.

Politicians are ignorant about so many things that impinge upon our lives, but they blithely make decisions that can have a significant impact.  Gas boiler replacement to name just one.

[Wight Flight]

6 minutes ago, Option5 said:

The river Wey?

Wey Navigation.