Buying above a shop?

[natalieh101]

Does anyone have any advice or experience of buying over commercial premises? We're aware of the pitfalls in terms of change of use and any downturn in the market - but, prices have gone so crazy, it seems like our only option!Thanks in adance

[NewWave]

Hi, My last property was above a shop in Notting Hill It was on a busy road but I loved it-The shop closed at 5.30pm and on Sunday's so I could dance up and down my living room and not worry about noise..something I was unable to do in my previous place a conversion flat in a house. Like you I found it was my only option in that postcode (W10) to get what I wanted, and I was pleasantly surprised at how much higher the ceilings were and generally how much more space I got buying above a shop.

I wouldn't buy above a cafe but my flat was next door to a food and wine shop that was open until 11pm and I had no problems, it was also great in terms of having items delivered as the shops were always happy to take them in, if anything I felt very safe as I knew the shops had CCTV and fire alarms which lots of domestic properties don't have.

I honestly can't remember any negatives to be honest, and I made money on the property when I sold it after 3years even though the market was on a down turn at the time. Though I would say location is key.

hope this helps...good luck!

[Carrie]

Downside is that quite a lot of lenders won't lend on a flat above commercial premises which will not only limit your choice of mortgage but also potentially cause issues when you come to sell. Upside is you get a lot more flat for your money!

[KidKruger]

A larger deposit can often resolve that.

[unlurked]

natalieh101 Wrote:

-------------------------------------------------------

> Does anyone have any advice or experience of

> buying over commercial premises? We're aware of

> the pitfalls in terms of change of use and any

> downturn in the market - but, prices have gone so

> crazy, it seems like our only option!Thanks in

> adance

Be very very careful, could have health impacts. A friend moved above a bakers and put a lot of weight on in a short amount of time!

[ontheedge]

Lol too true

Lived above a shop in lordship lane for a few years, loved it as previous poster said no worries with downstairs neighbours. Huge space

[James]

Good idea to spend some time in the flat during the shop's hours of operation in case there are any unforeseen smells, weird noises or other drawbacks which aren't immediately apparent.

[srisky]

Beware of times they receive delivery of their goods - listening to the delivery van/lorry beep as it reverses, doors slamming & crates unloading at 5am could quite become annoying quite quickly!