House/flat - which costs more per sq foot

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Thursday 8 March 2007 10.06pm
Views please. Would you pay more - in SE1, which has very few freehold early Victorian houses, and many 1990s/21st century apartamentos - per square foot for a freehold Victorian house or for a modern flat in a gated development.

I am looking to sell in SE1, and am receiving hugely conflicting messages from different agents, and so should be most grateful for any input you may all have.

Slightly further out of town than Bermondsey Street/Square.

Whilst I am fully aware that many would look at an early Victorian town house and drool, I am also fully aware that they don't suit everybody. Worn floorboards... no porter... no gates... timber windows that probably aren't double glazed etc etc etc.

Many many thanks for your assistance.
Friday 9 March 2007 2.04am
SE1 is interesting in that there are plenty of buyers who are looking for and expecting to buy a flat. Our prevous property was a modern house in Kennington, where most buyers wanted a period property and wouldn't consider modern. The estate agent confirmed that we would have found it easier to sell if we had the same property but in SE1 rather than SE11.

If you have a period property you might consider an agent who has offices in both areas.

Some agents have a reputation for over-valuing and then once on their books suggesting the price is reduced.

Meet as many as you can, ask them all about market conditions, the sort of buyer who is around and go with the one who seems to make best sense.

We sold the house eventually by advertising it in the Sunday Times as a short walk to Westminster and picked up an ex-pat Brit who did not want a period property and realised that he was getting far more including a garage, than he could in Pimlico. So that is one option if your property is slightly out of sync with the demand.
Friday 9 March 2007 9.26am
I'd get the freehold and save on the hassle of management fees and leasehold hassles.

That said. I have grown to like flats and found that when I moved to a house, I wasn't making use of all the floors.

Great for people without families, but a house is better for the long term, IMO. <-- free stuff and get rid of your unwanted stuff
Friday 9 March 2007 10.41am
It's a location issue as well, isn't it? SE1 is big. For a freehold house on the Borough side of Tower Bridge Road (very rare) I think you'd pay more per square foot than for a flat in that area. But I've just sold a flat on the Borough side of TBR and bought a freehold house on the Bermondsey side -- and the house was much cheaper, per square foot.
Friday 9 March 2007 6.35pm
I have one of those rare freehold house within the congestion zone in SE1 and have had it remortgaged. I have also had an estate agent round to value it out of interest a few years ago. Both the estate agent and the surveyor said it was a very difficult to value it because there are so few similar poperties in the area. I guess the mortgage surveyor would give a lower figure than the agent who would hope to sell as high as possible. All the same there are many flats worth far more than my modest 150yr old house.

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