What would you do with £65k in London?

brit1234

GDB2222 wrote: »

http://www.rightmove.co.uk/property-for-sale/property-36421721.html?premiumA=true

Something is not right with that property, have a look at the history via property bee.

05 February 2012

• Status changed: from 'Star Buy' to 'Sold STC, Star Buy'

04 February 2012

• Status changed: from 'Sold STC, Star Buy' to 'Star Buy'

03 February 2012

• Status changed: from 'Star Buy' to 'Sold STC, Star Buy'

20 January 2012

• Status changed: from 'Sold STC, Star Buy' to 'Star Buy'

19 January 2012

• Status changed: from 'Star Buy' to 'Sold STC, Star Buy'

18 January 2012

• Status changed: from 'Star Buy' to 'Sold STC, Star Buy'
• Status changed: from 'Sold STC, Star Buy' to 'Star Buy'

14 January 2012

• Status changed: from 'Sold STC, Star Buy' to 'Star Buy'

13 January 2012

• Status changed: from 'Star Buy' to 'Sold STC, Star Buy'

06 January 2012

• Initial entry found.

No price drop and the property has gone stale for months. But is still a Star Buy. :rotfl:

To the original poster just keep on saving and wait to see what the housing market is like after the Olympics. The Rics report today suddenly has the London estate agents going negative.

robatwork

I would splash out and have 4 days living here http://www.rightmove.co.uk/property-to-rent/property-22490199.html

RoBro_2

theartfullodger wrote: »

Sex, drugs & rock+roll -- probably quickly followed with a spell in intensive care....

Live a little guys!!!

Don't give me any ideas artfullodger!! I have been avoiding the STA Travel website for over a year now on purpose!

RoBro_2

GDB2222 wrote: »

http://www.rightmove.co.uk/property-for-sale/property-36421721.html?premiumA=true

JodyBPM wrote: »

I think that you are right to not borrow *even close* to the offered £340K on a monthly take home of £3.5K - that's not a particularly high salary between two in London! I'd try to stick to under the £250K mark (total spend inc deposit) for both affordability and stamp duty reasons.
.....
I can't really comment much on what you can buy in London for around £250K, apart from to say that I suspect you will be limited in choice for that budget. Certainly any of the nicer areas will be likely to be outside of your budget. Have you considered moving to suburbia? Seriously, depending on you ages and your future plans, a three bed semi half an hour on a mainline train may well be a better bet long term than a small flat in London.

secreticicle wrote: »

Aiming to do the same thing. Moving from Crouch End to get a 2 bedroom house in Walthamstow.

Great transport links, lots of bricks for your £££. Amenities not amazing, but you have to compromise.
Check out the areas around 'The Village' and 'Coppermill Lane'.

Re: N2, East Finchley is great, just a little more suburban - depends what you're after.

brit1234 wrote: »

To the original poster just keep on saving and wait to see what the housing market is like after the Olympics. The Rics report today suddenly has the London estate agents going negative.

Thanks Jody for affirming my estimates with the numbers, and for your advice. It's nice to know that we are doing something sensible. The suburban idea has started to dawn on us too. I think we'll definitely try and aim for the dream of a central-ish/conveniently located flat first though.

Same for everyone else, thanks for your help I never thought of Golders Green being a busy area ringo, and you may have just sold it to me!

I don't know if it's worth being as far out as the North Circular and paying that much for a two-bedroom flat, but the idea of a proper house in somewhere with actual trees does sound pretty good, especially the prospect of having a decent garden! Maybe Walthamstow will offer a compromise.

The numbers I provided above will be what we should have come December, so maybe the post-Olympics slump will have hit, or be just about to hit, and we can see if we can snipe a bargain in Bow or Hackney somewhere. We are fortunate to be living with parents, so provided we don't murder each other in the meantime, we have time to look around and take a few chances with low offers.

Thanks again for your time and advice guys! I'll keep checking back, so if anyone has other ideas for us I'll gladly listen

RoBro_2

robatwork wrote: »

I would splash out and have 4 days living here http://www.rightmove.co.uk/property-to-rent/property-22490199.html

That's pure pornography Rob. I have half a mind to complain to rightmove!

EDIT: Just noticed that that is an Olympic short-term let - so maybe come December the price will crash and we can have 6 and a half days living there! Hooray!

RichCH

I would say Ladywell / Honor Oak Park / Forest Hill in South London are bargains in comparison to most places.

All in zone 3, Honor Oak and Forest Hill are 25 minutes to Shoreditch High Street or 15 minutes to London Bridge.

2 Bed flat with Garden - £250,000 - £300,000.

£65k deposit in the bank? After stamp duty and fees, that leave you 50k or a little more. On £250,000 that leaves you with a mortgage of around £1100-£1200 a month. Not bad at all if you ask me.

GDB2222

I heard that the area around Crystal Palace is up and coming, but being a North-Londoner that's a foreign land to me.

RoBro_2

All foreign lands for me too - a few exploratory trips are in order I think!

AlexMac

I'm with Rich- look at SE London- and note that as well as the areas he mentions, a little further out in SE London is still in zone 3- the cheaper bits of SE10, SE7 and even the less posh bits of SE3. Lots of open space, decent (and improving) public transport and, if you don't mind ex-council, you'll still get a house with garden for your money, or a good coversion flat if you prefer period properties- as you'll see if you pump the postcode, 2+ beds and a price ceiling into rightmove

RichCH

You could look at Brockley, it's where I live but personally I think it's overpriced compared to Honor Oak Park, Forest Hill and Ladywell. Catford may even be worth a look.

A nice two bed flat in Brockley will set you back 250,000-300,000 but it's known as a leafy suburb, and it's got some nice little bars and restaurants, Zone 2... it's ideal really.