profemebee:
thanks for the responses..

hmmm high? 1k? 5k? 10? high?

i just dey think

Depends on what needs doing. Unless there is a sinkhole or something major damage I don't think it will get to that.

When I say high, let me illustrate, a job that will cost let's say 5k if you go to get a quote from a contractor, the management company could do it for 10k and give you all your share of the bill and there is little you can do about it unless things have changed

thanks for this example

in this example, why will management company's own quote be more expensive tho?

deept:


Depends on what needs doing. Unless there is a sinkhole or something major damage I don't think it will get to that.

When I say high, let me illustrate, a job that will cost let's say[b] 5k if you go to get a quote from a contractor, the management company could do it for 10k [/b]and give you all your share of the bill and there is little you can do about it unless things have changed

profemebee:
thanks for this example

in this example, why will management company's own quote be more expensive tho?

You have them the power when you signed the terms of your purchase. That's why it's important to read the terms and ask your solicitors questions about what you do not understand.

They are out to make money.

Important rule in the UK, know what you are signing and it's implications.

Tp1s for new builds is like a whole textbook. The ones for older builds usually a few pages.

profemebee:
but won't most new build buyers have this same issue though?

unadopted roads and all

Just asking for experiences from new build owners

Since we're learning, I would give you a recent example........

I was chatted up by one of us here ........ He/She was about to buy a newish build....... The property in question had a parking space for about 3 cars ........

Now the clincher......... The property owner would not own those parking spaces, those spaces are owned by management company, you would have to pay, to park your cars, in front of your own house (not off street parking)..........😁😜

Lexusgs430:


Since we're learning, I would give you a recent example........

I was chatted up by one of us here ........ He/She was about to buy a newish build....... The property in question had a parking space for about 3 cars ........

Now the clincher......... The property owner would not own those parking spaces, those spaces are owned by management company, you would have to pay, to park your cars, in front of your own house (not off street parking)..........😁😜

Case close to home, owner owned the land but not the rights to park.

profemebee:
thanks for this example

in this example, why will management company's own quote be more expensive tho?

We are waiting for your good news o.you suppose don graduate since.

deept:


Case close to home, owner owned the land but not the rights to park.

Absolutely....... This UK nah proper capitalist venture......😂

lol this parking thing

what if I don't have 3 cars, can others parking pay me?

My current apartment is 120 quid a space per month

Lexusgs430:


Since we're learning, I would give you a recent example........

I was chatted up by one of us here ........ He/She was about to buy a newish build....... The property in question had a parking space for about 3 cars ........

Now the clincher......... The property owner would not own those parking spaces, those spaces are owned by management company, you would have to pay, to park your cars, in front of your own house (not off street parking)..........😁😜

lol i'm learning oooo.. trying to be a good student

This thing is like PHD

deept:


We are waiting for your good news o.you suppose don graduate since.

profemebee:
lol this parking thing

what if I don't have 3 cars, can others parking pay me?

My current apartment is 120 quid a space per month

Would others have a parking pass, with your registration embossed.........😁

You don't own the land, Infront of your house........ All you can do with that space is, walk on it + temporarily drop your Tesco shopping bags......

Or they charge you for illegal trespass...........😁😂

so what did your friend do? not even one car park space is somehow

Lexusgs430:



Would others have a parking pass, with your registration embossed.........😁

You don't own the land, Infront of your house........ All you can do with that space is, walk on it + temporarily drop your Tesco shopping bags......

Or they charge you for illegal trespass...........😁😂

profemebee:
so what did your friend do? not even one car park space is somehow

Withdrew from the purchase...... 😁

Remember, the parking charge is not fixed. So the MC would keep increasing the charge.........

Or someone else buys them over and changes the rules entirely (never in your favour)........😂

that's an issue.. just increasing without any regulations

Lexusgs430:


Withdrew from the purchase...... 😁

Remember, the parking charge is not fixed. So the MC would keep increasing the charge.........

Or someone else buys them over and changes the rules entirely (never in your favour)........😂

profemebee:
that's an issue.. just increasing without any regulations

If you park a Ferrari + Bentley on your drive...... How would you want your MC executives to feel........ They can't keep charging £120 pcm forever........ 😂😭

That wealth must trickle down....... 😜

thats a great way to put it

Lexusgs430:



If you park a Ferrari + Bentley on your drive...... How would you want your MC executives to feel........ They can't keep charging £120 pcm forever........ 😂😭

That wealth must trickle down....... 😜

Hi all. For everyone who has completed on a new build, can you share what freebies you were able to snatch up. I am aware that developers can be quite generous if you ask, but not everyone is even aware that you can get some extras for free. It would be good if you can share from your experience what was added on top as a reference point for others who may be towing the same path. Sorry if this has been covered before.

Any one invested in Solar Energy and Batteries please?

I am thinking of going solar panels and batteries and go off the national grids. I may even sell the excess energy l will generate to the national grids and get paid by the energy companies

At Lexusgs430 et al.... Advice please

ukay2:
Any one invested in Solar Energy and Batteries please?

I am thinking of going solar panels and batteries and go off the national grids. I may even sell the excess energy l will generate to the national grids and get paid by the energy companies

At Lexusgs430 et al.... Advice please

I have heard people do it, but they did not have anything good to say about it ......

Remember, you would require consent from your mortgage provider, prior to mounting those panels......😁

https://www.moneysavingexpert.com/utilities/free-solar-panels/

Please what do you have to say about Rent to Buy. Its a new build and you have the opportunity for shared ownership at any point but can only do a full purchase after 5 years on the RTB contract.

The rent is slightly lower than market rate for same kind of property in the same area considering its supposed to be a 20% discount.

@Lexusgs430 and other Elders.

Lexusgs430:


I have heard people do it, but they did not have anything good to say about it ......

Remember, you would require consent from your mortgage provider, prior to mounting those panels......😁

https://www.moneysavingexpert.com/utilities/free-solar-panels/

Thank you Boss....

Let me use the funds to buy more NYSE stocks.....

ukay2:


Thank you Boss....

Let me use the funds to buy more NYSE stocks.....

Or even going long on S&P 500......... 😜😁

NB: Not investment advice...... 😊

Vintagee:
Please what do you have to say about Rent to Buy. Its a new build and you have the opportunity for shared ownership at any point but can only do a full purchase after 5 years on the RTB contract.

The rent is slightly lower than market rate for same kind of property in the same area considering its supposed to be a 20% discount.

@Lexusgs430 and other Elders.

Have you considered cost of staircasing, restrictive covenants, leasehold status, monkey dey work, baboon dey chop equity status etc etc etc...... 😁😜

That 20% supposed discount, is simply a greek gift.....😂😁

Me and my wife just maxed out our LISA accounts. My joy knows no bound as we start saving for our journey to the property ladder. Thanks to Lexusgs430 and other well-meaning and lovers of properties for letting me know that "rent money is dead money". Lol

Ogonsbaba:
Me and my wife just maxed out our LISA accounts. My joy knows no bound as we start saving for our journey to the property ladder. Thanks to Lexusgs430 and other well-meaning and lovers of properties for letting me know that "rent money is dead money". Lol

I hope you don't feel we put you people, under undue financial pressure.........😂😜

Remember, your landlord provides a service .....😀

Lexusgs430:


I hope you don't feel we put you people, under undue financial pressure.........😂😜

Remember, your landlord provides a service .....😀

Nope, not at all.

Ogonsbaba:


Nope, not at all.

Good....... Some people said we are forcing people to fly, before they could crawl...........😁😂

Signed sealed and delivered....

New build .. 12% deposit.. Barclays..

Thanks to everyoneeeeeeeeeeeee.. especially Lexus, Ticha, justwise, LagosismyHome, Deept, Estroller, Stevepop, Mohtunrahyor, Santa2, Zahra29, Solumtoya, Jedisco, Peerielass, bigtt76, newbie715, etc

I hope i didn't forget anyone...

Rent money isn't dead money tho....

Have a blessed day

profemebee:
Signed sealed and delivered... jedisco

New build .. 12% deposit.. Barclays..

Thanks to everyoneeeeeeeeeeeee.. especially Lexus, Ticha, justwise, LagosismyHome, Deept, Estroller, Stevepop, Mohtunrahyor, Santa2, Zahra29, Solumtoya, Jedisco, Peerielass, bigtt76, newbie715, etc

I hope i didn't forget anyone...

Have a blessed day

Yay,!!!!! Graduation at last. Congratulations.


So did you move out and in on same day?

thanks

nope, did a day after.. also didn't have to worry about paying rent and mortgage same time (which was my initial fear)

deept:


Yay,!!!!! Graduation at last. Congratulations.


So did you move out and in on same day?

profemebee:
Signed sealed and delivered....

New build .. 12% deposit.. Barclays..

Thanks to everyoneeeeeeeeeeeee.. especially Lexus, Ticha, justwise, LagosismyHome, Deept, Estroller, Stevepop, Mohtunrahyor, Santa2, Zahra29, Solumtoya, Jedisco, Peerielass, bigtt76, newbie715, etc

I hope i didn't forget anyone...

Rent money isn't dead money tho....

Have a blessed day

Congratulations!!!! We go wash am oo. lol.

What was the interest rate if you don’t mind sharing? Did you buy a stock house or off-plan?

profemebee:
Signed sealed and delivered....

New build .. 12% deposit.. Barclays..

Thanks to everyoneeeeeeeeeeeee.. especially Lexus, Ticha, justwise, LagosismyHome, Deept, Estroller, Stevepop, Mohtunrahyor, Santa2, Zahra29, Solumtoya, Jedisco, Peerielass, bigtt76, newbie715, etc

I hope i didn't forget anyone...

Rent money isn't dead money tho....

Have a blessed day

Congratulations...,...🎊🎉


Comeback after your property has some equity and interpolate your statement........😁😂

Congratulations.

You dragged it but you still bagged it.

When you ask for direvtions and use a map, getting to your destination is more assured.

profemebee:
Signed sealed and delivered....

New build .. 12% deposit.. Barclays..

Thanks to everyoneeeeeeeeeeeee.. especially Lexus, Ticha, justwise, LagosismyHome, Deept, Estroller, Stevepop, Mohtunrahyor, Santa2, Zahra29, Solumtoya, Jedisco, Peerielass, bigtt76, newbie715, etc

I hope i didn't forget anyone...

Rent money isn't dead money tho....

Have a blessed day