London Up and Coming Areas to Buy a Property

londonlydia

yup just checked..they sold them to Berkeley Homes...some are part buy/part rent tobe fair, but they dont appear to be council owned...

Uk_Lover

Conrad wrote: »

Yes, once out, we won't go back. Such a better quality of life in every regard out in the sticks - I'm further out than you. All of us out here say this same thing - that when comming out of London after a day trip, you get this incredible sense of relief which for us starts at the M25 and gets better the further you go out. Nothing quite like an impromtu staggering to the local pub on a winters nights out here - something magical in that

How far have you gone ? I've just bought a flat on the coast (Bexhill) and both of us have said we could easily live down there if it wasn't for work. Seeing as my work is now property I just need to make enough money to let the missus leave ! looks like i'm going to be busy !!

Uk_Lover

londonlydia wrote: »

yup just checked..they sold them to Berkeley Homes...some are part buy/part rent tobe fair, but they dont appear to be council owned...

think the whole area never really recovered from the Lawrence case. I lived in Eltham for 20 years and it used to be really nice, last time I drove through I couldn't believe how it had changed (unless you in the posh bits !)

Conrad

Uk_Lover wrote: »

How far have you gone ? I've just bought a flat on the coast (Bexhill) and both of us have said we could easily live down there if it wasn't for work. Seeing as my work is now property I just need to make enough money to let the missus leave ! looks like i'm going to be busy !!

We're about 40 miles from central London. Fields, great schools, security, peace, no traffic logjams, visitors can park on our drive (ie - not all cramped as in many a London street), and above all just the rural atmosphere and feeling of being at ease. We live by a hilly lane so can have bike rides and runs in more or less total peace and security (i.e. without the worry of traffic).

Personally we get much more from just being around nature and peaceful landscapes than we get from being able to visit London 'attractions'.

The funniest comments us villagers get is when townies say to us 'but what do you do for shops':rotfl:

Uk_Lover

yup no shops or electricity outside London !! lol

Conrad

Uk_Lover wrote: »

Seeing as my work is now property

What do you do, refurbs and sell em?

I find this more or less impossible because any property needing work gets massive attention as everyone and thier poodle likes the idea of doing up a property now and we find we are always outbidded as someone who will intend living there will always bid more than someone wantng to simply turn the property.

Uk_Lover

Conrad wrote: »

What do you do, refurbs and sell em? yup !
I've been lucky so far. My strategy is to look for flats that need lots of work and have short leases. I find the short lease get's rid of the interest from people needing mortgages and it seems to put a lot of developers off too obviously you need to extend once yours, oh and you need to be working with cash and not borrowing for anything. Got my current flat for 80k, every other flat sold in the same road has gone for over 125k. Think there's about 25ish k in it, maybe a bit more. Should take me 3 months depending on other private work.
I also had a great EA when buying the (they are not all bad!) but he was superb at putting people off the place once I put my bid in :rotfl:

hazyjo

Uk_Lover wrote: »

Conrad wrote: »

What do you do, refurbs and sell em? yup !
I've been lucky so far. My strategy is to look for flats that need lots of work and have short leases. I find the short lease get's rid of the interest from people needing mortgages and it seems to put a lot of developers off too obviously you need to extend once yours, oh and you need to be working with cash and not borrowing for anything. Got my current flat for 80k, every other flat sold in the same road has gone for over 125k. Think there's about 25ish k in it, maybe a bit more. Should take me 3 months depending on other private work.
I also had a great EA when buying the (they are not all bad!) but he was superb at putting people off the place once I put my bid in :rotfl:

Thought you had to own a flat for 2 years before they allowed you to extend the lease...

Do you hang onto them for that time then?

Jx

Acc72

Uk_Lover wrote: »

I also had a great EA when buying the (they are not all bad!) but he was superb at putting people off the place once I put my bid in :rotfl:

Sounds interesting - in what ways were they superb and how did they put people off ?

When you say "they are not all bad" you have just shown that this one possibly is.

Uk_Lover

hazyjo wrote: »

Uk_Lover wrote: »

Thought you had to own a flat for 2 years before they allowed you to extend the lease...

Do you hang onto them for that time then?

Jx

no, I'm negotiate a non-statutory lease extension with the freeholder, costs a bit more but can't afford to wait 2 years. Obviously had this set up before purchase. It's funny as with this flat we are trying to buy the freehold, but my solicitor has warned me it could take up 6 to 12 months to sort out which will be too long so looks like it the extention this time which is a shame.