One Day We'll Laugh About This ; Buying a Property Early in a Housing Scheme Can Pay If You Don't Mind Living with Cranes and Chaos, Says David Spittles

Summary

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BUYING into an early phase of a large-scale housing development can be a double-edged sword. Bold purchasers who snap up homes and move in while the cranes are still swinging overhead can expect higher price growth during the course of construction. The downside is that they have to live on a building site - sometimes for years, and up to a decade in the case of those London schemes where hundreds, or even thousands, of flats are being built.

For residents at Grosvenor Waterside, at Victoria, where developer St James is creating a new quarter of 900 homes, there is an added inconvenience on the horizon - but it could also offer a potential dividend.

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Extract

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One Day We'll Laugh About This ; Buying a Property Early in a Housing Scheme Can Pay If You Don't Mind Living with Cranes and Chaos, Says David Spittles

The first buyers moved in to Grosvenor Waterside three years ago, yet the project is still barely halfway completed.

And now there is the prospect of even more disruption with the redevelopment of neighbouring Chelsea Barracks, whose 13 precious acres...

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