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First Time Buyer Very confused

13

Comments

  • Bluebirdman_of_Alcathays
    Bluebirdman_of_Alcathays Posts: 2,859 Forumite
    Swindon - can easily get a 3 bed for £170k. Paddington in 1hr - that's by Hammersmith right?
  • VCUK
    VCUK Posts: 7 Forumite
    ap1985 wrote: »
    Houses are cheap in Midlands :)

    1 hr 15 on the train and your in central london!


    Thank you :)
  • VCUK
    VCUK Posts: 7 Forumite
    Bluebirdman_of_Alcathays wrote: »
    Swindon - can easily get a 3 bed for £170k. Paddington in 1hr - that's by Hammersmith right?


    yes , from paddington i can get to hammersmith. i was using M25 as a rough guide but slightly outside is fine.


    Thanks ill have a look at Swindon
  • ap1985
    ap1985 Posts: 325 Forumite
    http://www.zoopla.co.uk/for-sale/details/30861742?search_identifier=f8ac4462bd280d6c979714b498139b2e#luL6jJBKsMFpBFwh.97

    Aylesbury is commutable from Hammersmith..although it is a 1 bedroom but with your budget you may have to start off small!
    :jFinally going to be a homeowner:T
  • Candyapple
    Candyapple Posts: 3,384 Forumite
    First Post First Anniversary Combo Breaker Intrepid Forum Explorer
    Bluebirdman_of_Alcathays wrote: »
    Swindon - can easily get a 3 bed for £170k. Paddington in 1hr - that's by Hammersmith right?


    Don't forget, the monthly train ticket from Swindon to Paddington would be £800 and the monthly tube cost between Paddington and Hammersmith would be £100 so £900 total in travel costs just getting to work (assuming there would also be petrol and car park costs to drive to Swindon station in the morning and back again as well on top to be taken into consideration).

    From a salary of £36k, roughly £2.3k per month, that means OP would be left with £1400 per month to pay the mortgage, bills, food, and try to live on.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Holiday Haggler
    edited 18 October 2016 at 4:06PM
    ap1985 wrote: »
    Wow even Watford is up and coming! Best to move out of London altogether I say :)
    There are a good few top-end secondary schools in Watford - it really can warp the house prices. The area isn't rubbish, even if a few bits (e.g. North Watford) might be.

    HPI stretches well up to the edges, and past, the M25 zone.

    The OP should be looking at run down places in Newham/Ilford at his price range, and be looking to do them up

    There is a nice new estate of new-builds in Aylesbury, they've even got their own train station - https://www.taylorwimpey.co.uk/find-your-home/england/buckinghamshire/aylesbury/new-berry-vale
  • AndyBSG
    AndyBSG Posts: 986 Forumite
    edited 18 October 2016 at 4:10PM
    As advised on here, at 27 with a 36K salary you cannot expect to purchase a 2-3 bedroom house in the London region.

    You really need to lower your expectations to a 1 or 2 bedroom flat and look at areas outside the M25.

    As long as you are near a mainline station you could realistically consider somewhere as far as 50 miles away which will give you much better options if you're willing to relocate(just don't forget to factor commuting costs in)
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    First Anniversary Name Dropper First Post
    edited 19 October 2016 at 9:44AM
    VCUK wrote: »
    My First AIP was for 171k with Halifax, but now i cant find anything .

    You can't find a property, or you can't find another lender to match that?
    I'm shocked , i'm not looking for a palace but merely a 2-3 bed house within M25 or good transport links but everywhere i look on sites the only ones that show up are , Boats and Barges , or Homewise properties for 60yrs + :huh:
    £170k is not going to go very far within the M25...

    A very, VERY quick look at RM finds...
    http://www.rightmove.co.uk/property-for-sale/property-62484683.html
    ...and, as you say, auctions/boats/shared ownership.

    Well, it IS London. Except that isn't. It's Chatham. Still, some of the others that came back were in Glasgow or Liverpool...

    But that was just searching on "London". Not all of the inside of the M25 is "London". Not all of the outside of the M25 is "here be dragons". Not all of the inside has good transport links, either.
    i dont want shared ownership as i believe these IKEA houses are already over inflated and poorly built , (i have a few friends in them and heard bad experiences)
    You can't extrapolate "shared ownership = bad building, 100% ownership = good building". It's nowhere NEAR that simple... The only difference between shared and 100% is that somebody else owns part of a shared property, and you pay them rent on that portion.
    Buying a flat is possible but not what i want , I've lived in flats all my life and now wish to actually live in a house
    Frankly, we'd all like a lot of things we can't afford...
    Am i barking up the wrong tree and looking in the wrong places or what do i have to do ?
    <mode=Kirsty and Phil>
    Something's going to have to give... What you want, where you want, within your price range. Pick two, because all three is not an option.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    First Anniversary Name Dropper First Post Photogenic
    VCUK wrote: »
    i currently live in south london , work in hammersmith ,West london, roughly a 1 hr commute via underground , i can drive but parking a nightmare and traffic wardens always seem to flock to my car like flys to s---.

    Might that be due to you parking where it's not allowed?

    its so much easier to buy properties abroad , uk Prices you could have a 2/3 bed house in tenerife , spain , france for half of that ... mental ..

    LOL. So what are jobs like in your area (or any area) in Tenerife ?
    Did you know unemployment in Spain for under 25's is around 40% ?
    So, that's why houses there are cheaper, you can bet people therevstruggle just the same way, though they probably don't have the sense of entitlement you do over where to live and park.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    First Anniversary Name Dropper First Post
    While it's certainly true that jobs and house prices tend to go together, there are cities in the UK where nice two-bed properties in good areas of the city are £100k or so.
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