Would you pay $335K for a 77sq ft apartment with no electric or heat?
By brokentia
@brokentia (10389)
United States
January 24, 2007 12:28pm CST
Wow! Talk about inflation! Who would want to pay this insane amount of $335K for an apartment that is said to have no water, electricity, the stand up shower the size of a coffin, two hot plates and sink for kitchen, and two dirty windows from out of a basement for a view?
It is said that it is in a neighborhood that the going rate is $4,340 a sq ft!
That is insane!!! Who could possibly afford a place like this?
And the seller stated, "It's an investment." It would cost an additional $59K to install electric and heat.
But my question is...if it has no electric, what do the hot plates run on? Propane? That can't be safe for such a confined area!
Here is the story if you want to read more...
http://news.yahoo.com/s/ap/tiny_apartment
So what do you think? Would you pay this much if it was in a well-to-do area?
And if anyone here is from London, where this is located, please feel free to tell us what you think also!
Is the cost of living getting to the point that we are not going to be able to live in livable conditions?
Note: If anyone else posted this bit of news already, I did search it and nothing showed.
12 people like this
68 responses
@medooley (1873)
• United States
25 Jan 07
Wow, that is unbelieveable. I saw the same news article and almost feel off my chair when I was laughing about how much this is probably going to bring in. There is no way I can imagine paying that much money for an apartment that small.
If you did buy it, I wonder what you could get a month for renting it out?
4,340 a sq ft! It might be a good idea for me to ship my house over to London, I think that I could make a killing!
3 people like this
@imadriscoll (2228)
• United States
25 Jan 07
I figured our house to be over 4 million, so you would make more then that!
1 person likes this
@Penguinsangel (3498)
• United States
24 Jan 07
OMG! I can not believe that
I do not think so. What are people nuts?
that is just wow. lol I am speechless...
2 people like this
@brokentia (10389)
• United States
24 Jan 07
OK, I am really missing something. Who...where?
I'm so confused! LOL
There was a response above her?
Wow! myLot must have acted fast on that one, cause I never saw it!
2 people like this
@brokentia (10389)
• United States
25 Jan 07
No, I think it was the myLot faeries imadriscoll told me about one day. LOL
She said she would put in a good word for me.
I was taking a nap when it all happened. LOL
So it wasn't me. :)
2 people like this
@annettenasser (2992)
• Kuwait
24 Jan 07
i think no, aside from i dont know which is the place and would it be safe to live, why is it dont have electtric and heater, isn't that necessary to everyhouse there to put electric or is it new and not yet finish or old one. you should check first before signing the contract and paying, to make it sure that you won't pay for nothing.
2 people like this
@smuggeridge (2148)
•
2 Feb 07
London is the most ridiculous city in the world for house prices. My brother has just put his 1 bedroom flat up for sale for £280K ($550k) and is moving out of London where he can buy a 3 bedroom house with garden and about 5x the size for the same price
1 person likes this
@brokentia (10389)
• United States
2 Feb 07
Wow! That is insane! You should check out the state I live in...you would be surprised how cheap we are in comparison!
1 person likes this
@Willowlady (10658)
• United States
24 Jan 07
This is just insane. As long as people are willing to pay this price for things then it will continue. The madness just has to stop. No way is anyplace really worth that kind of money. Getting a dump like that seems like the neighbors would look down on you. Perhaps that hot plate is run off a neighbor? When looking for a house we only looked at the lower prices ones. Any house like that better have gold faucets.
2 people like this
@iamiramadnama (421)
• Canada
29 Jan 07
Screw that.. I didn't want to pay 90K for the house that I have now. It's got 7 bedrooms, 3 bathrooms, formal diningroom, livingroom, den, 2 fireplaces.. totally wired for everything, river view.. and it's about... 3000 square feet. It's a georgeous house.. I guess it just all depends on where you live as to what you will pay for a house.. or condo.. or apartment.
1 person likes this
@kgwat70 (13388)
• United States
24 Jan 07
There is absolutely no way that I would pay that much money for an apartment that did not have any of those things and even if it did have those things I still would not pay for it. I am much happier in my townhouse which I paid much less and have all the utilities that I need to survive and be comfortable in. You can own a home for much less than that.
1 person likes this
@rsmith512 (1561)
• United States
28 Jan 07
Wowey! I cannot believe that!
Who would pay that? An investment? Huh?
Who would even pay that??? Wow.
And, who would pay for a place that has no water or electrity? I know I wouldn't!
I think that is outragious!!!! :)
1 person likes this
@moonflowerpixy (536)
• United States
25 Jan 07
I have one simple answer for this...not no, but *%## NO!!:)
(I'd find my island first!)
1 person likes this
@patootie (3592)
•
24 Jan 07
You should see the prices of some of our homes here .. anything even remotely near to the city centre is horrendously expensive these days .. and if you go out into the country the prices are even steeper .. it's a fact that everything in life just keeps going up and up .. well everything but my disability benefits that is ...
1 person likes this
@jayaramayodhya (109)
• India
25 Jan 07
ya thios too feels bad for me.. but i havenot yet heard abt such a place
@shywolf (4514)
• United States
24 Jan 07
LOL, I almost posted this news story myself but ended up not doing it. But I couldn't believe the cost of this apartment! It's _tiny_, probably the smallest I've ever heard of. The only reason it is going for so much is because it is apparently in a good location with really famous shops around it. I really wouldn't want to live there even if I could afford it, though. It's a tiny space, I wouldn't want to be that crowded, and I don't care that much about living near the places that the article listed. It just seems silly to throw that much money away on such a small space to live in. I wonder who will end up living there?
@scorpiobabes (7225)
• United States
24 Jan 07
Wow....I'm speechless! I thought it was bad here in my town (voted the 'best place to live in america' in 2005 by money magazine--can't afford a house (I was lucky and bought in 10 years earlier), can't afford the taxes, can't afford the gasoline (the remaining gas station in town actually had the 2nd highest gas reported in NJ in 2005 for 24 hours!). It's all a matter of prestige though--Donovan McNabb of the Phila. Eagles lives here; T.O. had a house here; Bobby Clarke (Phila. Flyers GM) lives here, as do many other wealthy people. Ridiculous!
Oh yeah, about this room: so it's within walking distance of Harrods--once you buy it and fix it up, put in electric, who can afford to shop there? And more to the point, WHY would anyone chose something that small? I bet an investor is going to get ahold of that place (oh Mr. Trump, I have this darling room in London the needs fixing up but is a great investment with real estate going at over $4k!
1 person likes this
@bimasakti (43)
• Indonesia
25 Jan 07
Never! I will never pay for those, I think it's too bad more than live in the jungle! I pay expensive but bad facility!
1 person likes this
@nicky35 (747)
•
3 Feb 07
its crazy isnt it,funnily enough there was recently an appartment over here in central london recently that was described as the size of a caretakers cuboard going for a quarter of a million pounds.it wasnt even big enough to fit a double bed in.it was a joke,or it should have been a joke.the stupid thing is,some dingbat will probably buy it because of where it is.
@Lydia1901 (16351)
• United States
29 Jan 07
Well, I do not think I would do that. I mean no heat and no electricity. How I was suppose to live? I might as well spend more money somewhere else to get a better place.
@imadriscoll (2228)
• United States
24 Jan 07
You have got to be kidding me! Our house is a 950 square feet ... been on the market for a year and we can't sell it for $35K!
Perhaps if we moved it to London we could sell it there! It comes with electricity and water also! Not to mention a stove, a shower, a shower/bathtub ...
Let's see if we lived in this neighborhood we could sell our house for OVER FOUR MILLION DOLLARS!
@hellfire (187)
• India
25 Jan 07
personally, i think i wouldn't because its too costly an affair, but it is your money, your wish, your decision and you can do whatever you feel is right. The high cost of living in certain cities also makes you wish to do it, but that is no excuse to purchase a house without electricity connection. Theres no way you can live in such a dark gloomy place.
@reppeR (11)
• Belgium
2 Feb 07
wow i wish i could afford to spend money like that ...
doesnt makes any sens
