A safe property investment in East London??

RHemmings

lynzpower wrote:

Sorry, just away for a bit

I had friends lodge with me. ther first was fine, one of my best mates, moved in with BF, the second came back from travelling same week and moved in immieidatley, so fine. She was always considering a move back to her home town which she did straight after Xmas, leaving me without a lodger for a few months. Saying that I was pretty picky, most of the people I spoke to over the phone were weirdos, and plenty of people never claled back to arrange appointments or what have you. Its just hard work finding a lodger. We did get someone else i a new freind of mine, who turned out to be an absoute NIGHTMARE she left after 8 weeks, which was way too long

I can cope as my partner lives with me, but alone, NO chance.

Thank you. When my sister owned a flat she rented one room to an arts student. Because the student was such a good lodger, my sister kept the rental cheap, and was flexible about holidays. Therefore the lodger realised that she was onto a good deal and kept up her side of the bargain, and it all worked out. From my sister's point of view it was like having a good friend stay who paid you money as well.

On the other hand, I know someone who had such bad luck with lodgers, that she ended up moving her ex-husband back in as a lodger. Even if they had their problems, she knew that they could at least live together in the same house.

loulou41

Lou what size place are you looking for and whats your top budget, theres loads round here and I am firmly of the belief that for professionals this is a great area (not sure on the schools IYSWIM although there is a couple of partic good ones according to ofsted)[/QUOTE]

300K, could stretch to 325K, my main concern is service charge which could be as high as 2K a yr. It's for a single girl with the option of a spare bedroom for her brother to crash in if ever he finds a job in London.

Currently am looking in the bloomsbury, euston station areas, zone 1 or 2 Daughter works for Birbeck University and anywhere near where she could easily get to work. Thanks

jonny_rat

loulou41 wrote:

300K, could stretch to 325K, my main concern is service charge which could be as high as 2K a yr. It's for a single girl with the option of a spare bedroom for her brother to crash in if ever he finds a job in London.

Currently am looking in the bloomsbury, euston station areas, zone 1 or 2 Daughter works for Birbeck University and anywhere near where she could easily get to work. Thanks

I don't know much about what the property is like around here, but as I'm working near Birkbeck I can tell you that the transport links around here are fantastic (sorry if I'm just going over information you probably already know..). Birkbeck itself is in walking distance from Euston and Holborn, and even closer again to Russell Square and Goodge Street (not to mention the buses). So going a little bit further out would yield some fantastic places for that budget (although as this topic has shown I'm not the best to ask on that subject )

goldbyron

I have lived in East London for years and although have just moved back out to Woodford I have made a good amount of equity from buying and selling 2 properties in Walthamstow.

It is still affordable, good housing stock, near forest but also fast links (tube/BR/bus) to London. It has certainly improved over the years and has investment going into it. It is also a lot safer compared to other parts of east London - in my view!

Good parts are the Village and Lloyd's Park.

lynzpower

loulou41 wrote:

Lou what size place are you looking for and whats your top budget, theres loads round here and I am firmly of the belief that for professionals this is a great area (not sure on the schools IYSWIM although there is a couple of partic good ones according to ofsted)

300K, could stretch to 325K, my main concern is service charge which could be as high as 2K a yr. It's for a single girl with the option of a spare bedroom for her brother to crash in if ever he finds a job in London.

Currently am looking in the bloomsbury, euston station areas, zone 1 or 2 Daughter works for Birbeck University and anywhere near where she could easily get to work. Thanks[/QUOTE]

Pmed you Lou

DrFluffy

Limehouse basin - prices will rise (ala Olympics) and the area is quite nice already anyway.

I wouldn't live in Shoreditch if you paid me, areas of Bow are nice - especially around Victoria Park/Roman Road market, however, several of my friends have been mugged around the park (and they're fairly East London savvy).

Showmethemoney_5

I live in Leyton and it's alright area. Yes it's not Shoreditch or Brick Lane but it is accessible by tube and bus. I've been told numerous times that I will make a return on my flat due to the Olympics but I doubt I will see any major price increases. The majority of my friends hava also moved to East London...Poplar...just because its the only place they (we) can afford. However, you still get the odd surly teenagers loitering the streets etc but that just part of London life you have to get to used to. Also, Walthamstow has potential....there's been a lot of development in the area i.e new flats, a facelift for the tube station etc and its in Zone 3. I think when you're on a restricted budget you have to consider the less trendy areas and look further afield. Forget the IFA ...waste of money just do your research....particularly if you wish to have a lodger.

You can check out https://www.moveflat.com for people seeking rooms to rent so you judge an area on its rental value. Also, there's information on an area's facilities i.e shops so it will give you an idea.

Good luck with your search but don't wait too long as you will be totally priced out of the East London market.

Tassotti

I hear Walford is a cheap up-and-coming place.

Before you move there, however, you have to have facial surgery to remove the muscles that enable a smile to form.

lynzpower

must be cheap in walford as someone who is a taxi driver who never seems to put any hours in can buy a period 4 bedroom home spitting distance from the tube station