buying a London flat- doing the right thing?

pickledpink

byrneand wrote: »

As I mentioned earlier I lived in Clapham for two months... I have friends who live there and your talknig rubbish.... I decided other areas of London where nicer and so moved their.

I'd imagine the reason houses go for £1.5m would be because you could split it up and rent it out achieving a yield of >5%. Given that there is limiting land available in London to develop and given Clapham/Balham's close proximity to the city people would view this as an opportunity for capital appreciation as demand outstrips supply.

I'm hardly jealous of living in Balham. There are much nicer areas I personally would live in and have chosen to buy in because I wouldn't want to lower myself to living in such a decrepit area. This doesn't mean that I would not consider a property in the area as an investment. Young professionals who are out of university earning £20-50k will pay to live in the area given all the factors that I mentioned before.

You're talking out your backside.

You're clueless.

But you don't need to worry about that - you'll never have the opportunity to buy in that area.

You're just a little person.

Now run along....there's a good boy.

pickledpink

byrneand wrote: »

This is a lovely property and not one that is likely to be split up into flats etc.. but the vast majority of properties in the area are in my experience.

This is not the norm however.

OK................this one is round the corner to Emmanuel Road.

http://www.rightmove.co.uk/viewdetails-17702792.rsp?pa_n=2&tr_t=buy

pickledpink

This one is off Emmanuel Road.....................

http://www.rightmove.co.uk/viewdetails-21413561.rsp?pa_n=5&tr_t=buy

byrneand

pickledpink wrote: »

You're talking out your backside.

You're clueless.

But you don't need to worry about that - you'll never have the opportunity to buy in that area.

You're just a little person.

Now run along....there's a good boy.

You look a bit silly and blinkered. Look at the comments that everyone else has made.

Everyone understand that there are a advantages to living in Clapham/Balham. People are also making the point that there are disadvantages to living in this area as well.

Perhaps if you were not so blinkered you would appreciate this.

On a seperate note you know nothing about my background. I could buy a property in the area without any problems but have decided not to. It's not somewhere I would like to live. Feel free to live there by all means.

byrneand

pickledpink wrote: »

This one is off Emmanuel Road.....................

http://www.rightmove.co.uk/viewdetails-21413561.rsp?pa_n=5&tr_t=buy

By the way anyone can pop in a postcode and say what's the most expensive house in the area.

There's a street just up from next to me caled Kensington Palace Gardens... it has one or two nice houses on. These are not representative of the entire area however:

http://en.wikipedia.org/wiki/Kensington_Palace_Gardens

pickledpink

Maybe this one will be more afforable for you. It's just off Emmanuel Road........don't forget to Google up the map!

http://www.rightmove.co.uk/viewdetails-22640672.rsp?pa_n=8&tr_t=buy

GracieP

pickledpink wrote: »

Gracie,

You don't know the area - I do - I lived there!

SW12 is BALHAM (you were wrong weren't you?!) and Emmanuel Road takes you directly to Balham High Road.

The trouble with bitter busybodies like you is you spend your time looking at maps, but you can't read them.

Now, is SW12 Balham or not? Or do you want to make yourself look even MORE pathetic than you already have?

Excuse me? What the hell am I supposed to be bitter about. That I don't live in Clapham/Balham? I could live there now if I wanted to to, and I could buy a flat there very easily if I wanted to. But I don't think they are that great.

It's not really any of your business but my husband and I have a 6 figure sum in our savings account. My husband works in film and has a rather impressive income, though he is still rather low down on the scale. We live in Wimbledon in a really nice rented house, as we decided to rent since selling our house in north London.

We are renting as right now it makes a huge amount of sense from a financial perspective. And as neither of us is British we don't want to be tied here if we decide to go home. We live in Wimbledon as it has all the fashionable elements of Clapham/Balham, but is a pleasant suburb at it's root. And we've two of the largest parks in London at our disposal. We are about to start a family and I'll be a stay at home mother as we have an extremely comfortable lifestyle on one salary.

On top of that I have a lovely husband, two awesome dogs, a great relationship with my family and lots of great friends. I wake up every single morning overjoyed at where I am in life. I'd honestly say you'd find it hard to find a less bitter person.

I'm not saying everything in my world is perfect as it's not. But I'm certainly about as far from bitter as you can get.

pickledpink

byrneand wrote: »

You look a bit silly and blinkered. Look at the comments that everyone else has made.

Everyone understand that there are a advantages to living in Clapham/Balham. People are also making the point that there are disadvantages to living in this area as well.

Perhaps if you were not so blinkered you would appreciate this.

On a seperate note you know nothing about my background. I could buy a property in the area without any problems but have decided not to. It's not somewhere I would like to live. Feel free to live there by all means.

I don't think you COULD buy a property in Balham or Clapham area...........not when you've only got a £220k flat in a poor area! How would you afford a £750k mortgage???

By the way, you need to know that properties are priced according to their location!

You can still snap up a castle in the wilderness of Scotland for short change - but no-one wants to live in the area!

That's why Clapham and Balham are so sought after (and the properties are expensive) - people desire the area!:p

byrneand

pickledpink wrote: »

I don't think you COULD buy a property in Balham or Clapham area...........not when you've only got a £220k flat in a poor area! How would you afford a £750k mortgage???

By the way, you need to know that properties are priced according to their location!

You can still snap up a castle in the wilderness of Scotland for short change - but no-one wants to live in the area!

That's why Clapham and Balham are so sought after (and the properties are expensive) - people desire the area!:p

Just to throw some ideas at you but....

There's this concept called humility - look that one up sometime.

... then there's these other thinks called investment banks and they pay these things called bonuses.

I don't quite understand why you repeatedly feel the need to be-little people? It's not really that cool

pickledpink

GracieP wrote: »

To be fair Lambeth includes Streatham and Brixton which are both horrible. In particular Brixton, which is an irredeemable hellhole.

Brixton's a hole - that's true. But not as bad as HARINGEY where you lived!!!!!:eek: