Hi /r/ housinguk
We (28m & 25f) are thinking about purchasing a property we viewed today. We are both first time buyers and we want to live in the property we buy for the next 5-10 years. The current property price only eats into 75% of our max budget, and for this reason it is a really attractive buy opportunity.
However, given that its surrounded by council blocks (private & council mix) from 3 directions, we are wondering whether it will retain and grow in value longer term. The other side of the property is surrounded by Victorian homes and a lovely green square. We have no prejudice against the council estates, however, we are concerned about the obvious matters living next to council blocks could mean for us. I’ve laid down pros + cons objectively as possible.
Layout of the neighbouring areas: https://i.imgur.com/0Snbsyh.png
Pros:
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3 bedroom, 3 floor, semi-detached freehold house in Brixton
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Great location (7-10 mins from Brixton station on bus)
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Good entry price point comparable to other houses which are being sold for 25-30% more on the same street
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Mock Victorian house w/ high energy efficient rating
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Very bright and homely feeling inside
Cons
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Not a square shaped house but more of an elongated & slightly slanted rectangle (no room in the house is a square dimension)
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3 sides of the house or 75% is surrounded by council estate (although a very clean ones, I think it’s a mix of council & private apartments)
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Patio is exposed to protruding eyes from the council building (afraid I will never go out and enjoy it when its sunny)
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Road on the back of the house (break-in prone?)
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We would really appreciate any guidance from property owners who have experienced similar situations in the past, or from 1st time property owners who have any tips to share a view that could convince us that its a good buy.
Thank you!
