Will i regret a studio flat as a first home?
Discussion
Hi
By the end of the year I plan to have bought my first place of my own, but my budget is limited.
For all intents and purposes im single (long distance relationship) and rarely have friends over and if I do its one at a time.
I generally play computer in the evenings so don't need much space for a sofa etc.
I have a budget of £110k to spend in Southampton.
This opens up some 1 bed flats, but they are generally s
t areas.
Where as the studios are in nicer areas but for the same money.
I think I could happily live in a studio but everyone tells me im mad and will regret it.
Does anyone have any opinions?
Thanks in advance.
By the end of the year I plan to have bought my first place of my own, but my budget is limited.
For all intents and purposes im single (long distance relationship) and rarely have friends over and if I do its one at a time.
I generally play computer in the evenings so don't need much space for a sofa etc.
I have a budget of £110k to spend in Southampton.
This opens up some 1 bed flats, but they are generally s
t areas.Where as the studios are in nicer areas but for the same money.
I think I could happily live in a studio but everyone tells me im mad and will regret it.
Does anyone have any opinions?
Thanks in advance.
Cheers everyone.
Another question if i may. At what point of buying would i expect to see the details of the leasehold?
Another question if i may. At what point of buying would i expect to see the details of the leasehold?
KTF said:
What areas of Southampton are you looking at? There may be other options on the east side of the bridge in Woolston and surrounding areas as that has improved a lot since the Vosper redevelopment.
Anywhere really, but not as far as gosportFunk]enbay001 said:
Cheers everyone.
Another question if i may. At what point of buying would i expect to see the details of the leasehold?[quote]
It's usually mentioned in the ad if it's decent (a long lease is a major selling point).
If not, the agent should be able to tell you immediately.
A significant number say "lease details are currently being compiled" which i take to mean worryingly short lease, right?Another question if i may. At what point of buying would i expect to see the details of the leasehold?[quote]
It's usually mentioned in the ad if it's decent (a long lease is a major selling point).
If not, the agent should be able to tell you immediately.
Some very interesting points from everyone. Thanks
Marcellus said:
My Youngest has had a studio for the last year, it was all she could afford in the area she "Just has to live, nowhere else would do"
She is now moving on into a 1 bedroom apartment in a different area and one that a year ago "she wouldn't be seen dead living in".
She says the studio was OK, but sleeping in the same room where you've done your cooking, washing, watching TV, store your clothes etc etc etc got to be a depressing!
So, based on this my advice to the OP would be if it is really the only option in the area where "you just have to live" then rent one for a year and see how you get on, easier to move on if you're renting than if you've bought it.
Ive been living in shared houses for the last 4 years and spend almost all my time in my bedroom, eating, playing and sleeping, so i this is what makes me think i could cope.She is now moving on into a 1 bedroom apartment in a different area and one that a year ago "she wouldn't be seen dead living in".
She says the studio was OK, but sleeping in the same room where you've done your cooking, washing, watching TV, store your clothes etc etc etc got to be a depressing!
So, based on this my advice to the OP would be if it is really the only option in the area where "you just have to live" then rent one for a year and see how you get on, easier to move on if you're renting than if you've bought it.
Currently i pay £550 pcm for a large bedroom in a shared house. Having done some pessimistic calculations on running costs of studio £650 pcm looks about right. £200 of which will be money off the mortgage ie cost of studio flat is more like £450pcm.
Hence my desire to move.
Plus im fed up of having to empty the bins for 4 other people every couple of days..
Hence my desire to move.
Plus im fed up of having to empty the bins for 4 other people every couple of days..
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