First time buyers in London

GDB2222

cheekymonkeb0y wrote: »

So where else within a commuting distance of London would you recommend?

That area South of the Thames is a very strange dark area to me, so I can't advise on that. I heard tell there be monsters. North of the Thames there are lots of nice areas. If you want a lively town you could do worse than St Albans. It's on Thameslink, with direct fastish trains into the City.

Personally, I prefer more green, so I'd go for Welwyn Garden City or Letchworth GC. You might fall asleep though.

Leaseholder49

princeofpounds wrote: »

Unfortunately, the cost of train travel is so extortionate that it's not much cheaper to live in a lot of the more popular commuter towns.

Not only that, but from the 'culture' perspective the s*dding trains stop so early (just after 11pm to get to where I am, a 45-min non-stop train ride to London) that it's difficult to get home after going to anything in the evening.

Person_one

Not meaning to dogpile, but I sense that you have very little understanding of the reality of being on a low income. You are doing exceptionally well by most people's standards. Plenty of people your age are struggling to find work at the moment, including me! It also depresses me a little to hear someone so young buying into the myth of the immigrant family with 10 kids getting the best deal. Why don't you have a look at the refugee council website and see what new arrivals to the country are actually entitled to.

Would a one bed or small two bed flat really be so bad for a bit? Or would leaving London be terrible? Here in Manchester you could have something really lovely for your budget and I promise its not all flatcaps and coronation street.

cheekymonkeb0y

Person_one wrote: »

Not meaning to dogpile, but I sense that you have very little understanding of the reality of being on a low income. You are doing exceptionally well by most people's standards. Plenty of people your age are struggling to find work at the moment, including me! It also depresses me a little to hear someone so young buying into the myth of the immigrant family with 10 kids getting the best deal. Why don't you have a look at the refugee council website and see what new arrivals to the country are actually entitled to.

Would a one bed or small two bed flat really be so bad for a bit? Or would leaving London be terrible? Here in Manchester you could have something really lovely for your budget and I promise its not all flatcaps and coronation street.

A lot of us would consider places outside of London, I particularly like the big towns of the Midlands and North West but sadly there is not the range of jobs available up there.

Person_one

cheekymonkeb0y wrote: »

A lot of us would consider places outside of London, I particularly like the big towns of the Midlands and North West but sadly there is not the range of jobs available up there.

Manchester is a thriving city, we have lots of universities, the BBC and the co-op based here who are all big employers. Have you ever looked into the job situations in any of these town or cities or is it just an assumption that you wouldn't be able to work there? There probably isn't as much competition for each role.

sulkisu

TerryTibbs05 wrote: »

We have tried government initiatives such as shared ownership and home buy, but have been turned down due to our combined salary (criteria for such schemes is £60k).

Whilst applying for the government schemes, they look very nice on the outside i.e. "we will pay/match your deposit", "you can buy x% and the government will pay the rest" etc the schemes are not actually geared for people in my situation i.e. what i am finding is that preference is given to people who live in a certain boroughs of london and have ten children and are immigrants!

Really? There are government funded shared equity home ownership schemes where preference is giving to immigrants with large families, instead of key worker or those earning less than £60k a year. Perhaps you could name one....?

Person_one

honeypopper wrote: »

But that's boring! Young professionals want to be where the action and buzz is! They don't want to live in some boring new-build in some boring new town, miles from London, planting dahlias at the weekend! They want to be where it's at!

You only live once. And remember, too - while they're young they can enjoy their London lifestyle knowing their investment will probably buy a big house outright for them when they're ready to move miles out of the capital.

Manchester, Liverpool, Edinburgh, Glasgow, Leeds, Birmingham...

London isn't the only city in the UK!

breadlinebetty

Agree..............London isn't the only city in the UK - but it's the best! London is one of the best cities in the whole world, and that's why people pay a premium to live there. It's also got better weather than cities up north.....................

Doctor_Gloom

Hi de Hi breadlinebetty/rumbaba/honeypopper/pickledpink, etc.

Shakethedisease

But that's boring! Young professionals want to be where the action and buzz is! They don't want to live in some boring new-build in some boring new town, miles from London, planting dahlias at the weekend! They want to be where it's at!

You only live once. And remember, too - while they're young they can enjoy their London lifestyle knowing their investment will probably buy a big house outright for them when they're ready to move miles out of the capital.

Don't we all luv !!!! No matter where we live, and if we're 'young professionals' or not.

Or is it only Londoner's that get to do this before moving elsewhere into a 'boring' life somewhere..

I was brought up in a Scottish council estate in one of the most deprived areas of the Uk.. and I can tell you, life is what you make it ANYWHERE. It's not confined to zone 1/2 or whatever the latest 'trendy' area is.

And if investment is what they're after, something to sell that 'may' go up in value ( or not ) then why not start buying antiques, shares or something ?

Sorry, but the notion that only young professional's in London have the 'right' to be where the 'action and buzz' and 'make an investment' ( most of us normal people outside the M25 would call it a home probably )..before then going off to 'be boring' later on is really narrow minded.

OP, you probably just want to be saving up a bit more for that deposit. Not only that, but also factor in that if you want kids in the future that you may only be servicing the mortgage off one of your wages. Make sure that, above all, is do-able unless you intend/choose to remain childless. Childcare is not cheap if both of you go back to work full-time.

But I agree with most here. Lots of 'nice areas' of London aren't cheap.. and it may be best to widen your net's a little and think a little more long term.