Buying a new built flat

[mitchell]

Welcome all,
I'm a first time buyer who is thinking about purchasing a new build 2 bed flat. This would be a long term investment and I would like to rent it out. I live in London and looking to spend 250k. Like to know if buying a new built is wise?
Many thanks
Mitchell

[clayton]

Hi Mitchell,
Personally I'd say no to a new home, with me it's a matter of taste, I like homes with character and I find the vast majority of new homes, particularly flats lack any kind of character or distinction. But then I wouldn't buy a home in England let alone London, you end up paying so much for location there's precious little left for the building. We've just bought in Scotland, our second buy, and for less than we could buy a 2 up 2 down terrace in our home town of Northampton, we've bought a detached on a double plot, 5 bed roomed grade 2 listed stone cottage, over 3 floors with a 40 foot living room / kitchen... there's even a river at the bottom of the garden. For the money you have to spend you could buy two like this, there's 3 properties for sale in our street ranging from ?64k to ?235K ( < new bungalow ) in a busy tourist area. ( if you're interested google for property in south west Scotland )
Keep in touch
Clayton

[vngrape]

New homes are nice as long as you could profit from its being "new". But if you think you could profit from a cheaper pre-owned home all the same, then why not consider the cheaper one. But of course you should also consider your taste and comfort since it is your home and you will be the one who will live in it.

[eyeC]

think about the maintenance charges they will take from you