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Living in a walk up

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  1. #21

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    Quote Originally Posted by jgl:
    This is a good point. I'd missed that the OP hasn't been here very long.

    kgb- have you done a summer in HK yet? A single flight of stairs is a big enough challenge for many people in 30 degree heat and 95% humidity. The flat would have to have some truely amazing upsides to make up for it.
    Yet others of us go out and climb Lantau Peak in the middle of the day in summer. It takes all sorts!

    Provided the purchase price is consistent with the expected rental it will be fine ... otherwise I would be wary.

  2. #22

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    Quote Originally Posted by MovingIn07:
    Yet others of us go out and climb Lantau Peak in the middle of the day in summer. It takes all sorts!

    Provided the purchase price is consistent with the expected rental it will be fine ... otherwise I would be wary.
    Ah, but we don't do Lantau Peak in wool suits and dress shoes, do we?
    jimbo likes this.

  3. #23

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    Quote Originally Posted by jgl:
    Ah, but we don't do Lantau Peak in wool suits and dress shoes, do we?
    And carrying shopping.

  4. #24

    If you are wearing wool suits in the summer, then there is something wrong with you anyway.


  5. #25

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    Quote Originally Posted by jgl:
    Ah, but we don't do Lantau Peak in wool suits and dress shoes, do we?
    No, but then I don't wear wool suits and dress shoes to the office either (but I do realise I'm odd!).

  6. #26

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    Quote Originally Posted by jimbo:
    And carrying shopping.
    Obviously not carrying shopping. I carry several litres of water, wet weather gear, first aid kit, lunch .... instead. My shopping is much lighter
    leedseagle likes this.

  7. #27

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    Feb 2010
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    No, I wouldn't live in a walk up, not because of the heat, but because of the inconvenience.

    Getting home drunk? 5 flights of stairs, I'd end up on the stairs sleeping

    Rushing home to the toilet - Be a pain to attempt to run the 5 floors, maybe thats why people piss on the staircase

    Visitors - No one would want to visit!

    Shopping - I don't do my weekly shopping like in the UK, so it wouldn't be as bad, but I still don't want to walk 5 floors with anything

    Walking in lantau peak in mid-summer heat - that's by crazy people's choice, but also once in a blue moon, not on a daily basis.

    You got to remember the main reason you are buying to let; to get a return in investment. If you are narrowing your market, then there is high chances there may be times you won't be able to rent it out, to me that means risk. Is it worth it? Even if you buy it at a good rate?

    jimbo likes this.

  8. #28

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    May 2007
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    An old walk-up as an investment or a source or income? No.

    If you want to live there, buy it by all means.


  9. #29

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    Quote Originally Posted by Sigga:
    An old walk-up as an investment or a source or income? No.
    Surely it depends on the yield. With a high enough rental yield you're protected from void periods and adequately compensated for risks like the building getting compulsorily purchased by a developer.

    I might consider it for 20% rental yield but wouldn't touch it at 5%.

    Everything has a price.

  10. #30

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    There are hassles to walk ups but generally you pay less both as a rental and as a purchase. You will always find tenants, it's just a matter of price and how nice the flat/building/neighborhood is...

    The lazy/drunk/old/unfit will obviously be put off but personally, I see this as an opportunity to get a deal. Some of those walk ups are dumps and I wouldn't touch them with a ten foot pole but I've seen some well maintained older buildings with outdoor space that were quite nice.

    bookblogger likes this.