Is this a good price ?

[azurealm11]

Im looking for 2 bedroom apartments around Waterloo area and I've viewed one thats on a ground floor of at a guarded apartment . It's at one called the county hall apartment and goes for 599K . At least 80-100 sq feet.

the other issue pertains to the management fees , the agency charges 10% per month for agency fees , and on top of that there is an annual 3800pounds the apartment's management fee. Can anyone advise me on a good real estate agency around Waterloo or Southwark ? Much appreciated

[privateproperty]

I would advise looking around the neighborhood to see what similar properties are going for, and do a comparison. I must say that those agency fees seem a bit crazy.

[Marcelbrowner]

The best thing is to be pacient, and take your time. Go look up the yellow pages, do a google search, but the local newspaper!

Good luck!

[Dan_Manchester]

£600k for a 2-bed apartment seems so alien to me here up in Manchester, I could buy half my street for that...

Either way, I'd say the answer is research research research, how many other apartments like that are available for rent?

Perhaps phone the letting agents to ask to view other similar apartment in order to get an idea of the demand and potential letting price.

Know your competition

[brian]

Originally Posted by azurealm11

Im looking for 2 bedroom apartments around Waterloo area and I've viewed one thats on a ground floor of at a guarded apartment . It's at one called the county hall apartment and goes for 599K . At least 80-100 sq feet.

the other issue pertains to the management fees , the agency charges 10% per month for agency fees , and on top of that there is an annual 3800pounds the apartment's management fee. Can anyone advise me on a good real estate agency around Waterloo or Southwark ? Much appreciated

£6000 per sq foot seems quite incredible - 100ft sq is only a 10ft x 10ft room, isn't it?

Or have I missed something here? Did you mean 1000 sq ft?

[jodieB]

To see weather it is a good deal, you need to research. Check how much rental properties are going in the areas and then compare that with your finances, will the rent cover your expenditure for it eg are you going to mortgage on a buy-to-let? If so will the rent cover the repayments, management fee and apartment management fee? If so then it may be a good buy for yourself, if not then maybe reconsider.

[Dan S]

Hi Azurealm11

Brian makes a good point and i can only assume you made an error when typing. I can fully believe that a 2 bedroom apartment would cost that much in waterloo, but in order to see if you're getting a good deal you really need to get on sites like mouseprice.com to see what similar properties have sold for nearby (and hopefully in the building itself).

I'm guessing here but are not local? You said the american term 'Real Estate' so I wonder if you're a little unsure about the entire buying process in this country. Please feel free to PM me but any of the local estate agents in the area will achieve the same ends of trying to find you a property.

Good luck!

[Dan_Manchester]

Originally Posted by danielmarriott

I could do the same in Lincolnshire.

The joys of living in the north eh?

That said we have to put up with dark days, clouds and buckets of rains over here in the NW!!

[theparlis]

Its a little overpriced if you ask me. Maybe you should check the area out and round up the average in comparison to your desired flat. Don't forget to weigh out the advantages and disadvantages too! Cheers

[tony jones]

Sounds overpriced to me, why not just make a cheeky offer!?