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A property to buy for investment... Where in London?
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Ruda
Posts: 9 Forumite
Hi everyone,
I'm here just after some advice really
I am considering buying a new 2 bed property in London (prefer under construction)... in an area which is not yet so expensive! I know it is impossible to get a CHEAP one but which parts of London shall I consider and how much am I talking about?
I lived earlier in London but left it long time ago and am not aware now which areas are best for investment... ie I am going to put all my saving in this property - as I live outside London most of the year- planning to rent it later through an Estate Agency or sell it in long future at a good price....
Any advice or recommendations?
Thanks in advance all for your replies...
I'm here just after some advice really
I am considering buying a new 2 bed property in London (prefer under construction)... in an area which is not yet so expensive! I know it is impossible to get a CHEAP one but which parts of London shall I consider and how much am I talking about?
I lived earlier in London but left it long time ago and am not aware now which areas are best for investment... ie I am going to put all my saving in this property - as I live outside London most of the year- planning to rent it later through an Estate Agency or sell it in long future at a good price....
Any advice or recommendations?
Thanks in advance all for your replies...
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Comments
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or some useful websites
:-(0 -
At the moment Hackney's pretty much exhausted - wise investors are moving South East, to Peckham, Deptford, Brockley, New Cross, Lewisham. You could get a nice garden flat on the ground floor of a Victorian build for quite a reasonable price, especially if you buy at auction. There will be a record number of repos over the next 2-3 months. PM me for a list of auction sites.0
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You need to give u an idea of what you call cheap!
OH's brother is trying to do the same as you and is gutted for what £600k will buy him - he thought he'd get a house in Chiswick!Give yourself a Chistmas bonus £14 a week!
Total so far £280 -
Definitely Peckham Rye (NOT Queens Road Peckham), ten mins to Victoria/ Farringdon/ St Pancras and with the new Cross rail and east London line in 2012 lots of City workers are starting to move into the area and new cool pubs and cafes are opening all the time.
I've just put my 2-bed up for sale due to having to re-locate with work, otherwise we definitely wouldn't consider selling. We had a couple of Estate agents look at it from a rental perspective, it would rent for £1200 per month. Perhaps you'd like to take a look
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greenmoneysaver wrote: »You need to give u an idea of what you call cheap!
OH's brother is trying to do the same as you and is gutted for what £600k will buy him - he thought he'd get a house in Chiswick!
:rotfl:
Just spilt tea over my mac reading this!!!Aspiring to be financially independent.... from my parents!0 -
Tea spilt because of
a) OH's brothers muppetyness?
b) Chiswick house prices?Give yourself a Chistmas bonus £14 a week!
Total so far £280 -
greenmoneysaver wrote: »Tea spilt because of
a) OH's brothers muppetyness?
b) Chiswick house prices?
OH brothers muppetyness......
House prices just make my blood boil
Aspiring to be financially independent.... from my parents!0 -
OP would be best to buy a ex council flat somewhere.
Cheap areas are cheap as people don't really want to live there.0 -
Hee Hee!
He doesn't know London, lives abroad and really hasn't a clue! He is ripe for a Foxtons rip-off!
As for OP, I agree ex-LA could be a way to go. I am unsure as to the validity of buying a ew build in the current market. ..Give yourself a Chistmas bonus £14 a week!
Total so far £280 -
greenmoneysaver wrote: »Hee Hee!
He doesn't know London, lives abroad and really hasn't a clue! He is ripe for a Foxtons rip-off!
As for OP, I agree ex-LA could be a way to go. I am unsure as to the validity of buying a ew build in the current market. ..
Bless him, I can just imagine him walking into Foxtons and being told "oh we have a nice one bed flat that in right on your budget":rotfl::rotfl::rotfl:0
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