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£140k for London property

13

Comments

  • rufus86
    rufus86 Posts: 61 Forumite
    I'm following this thread cos I want to buy this year but running out of time as I can't decide on where to buy. I'll love to buy in North London but with 40k deposit and low salary not much choice

    In same position! Substantial deposit but low salary :(
  • Mallotum_X
    Mallotum_X Posts: 2,591 Forumite
    Part of the Furniture Combo Breaker
    Given you are on such a tight budget I personally would scrap the investment idea element completely. You are adding one too many constraints. Prioratise what is going to work for you now.

    Which areas of London do you currently have connections with, do you have any connections outside London in any of the nearby towns. It is amazing how fast the journey times can be into central london from some towns further out, even when compared to places that you would consider to be London.

    With such a tight budget you are making it very tough trying to guess what will also work as a long term investment.
  • rufus86
    rufus86 Posts: 61 Forumite
    Mallotum_X wrote: »
    Given you are on such a tight budget I personally would scrap the investment idea element completely. You are adding one too many constraints. Prioratise what is going to work for you now.

    Which areas of London do you currently have connections with, do you have any connections outside London in any of the nearby towns. It is amazing how fast the journey times can be into central london from some towns further out, even when compared to places that you would consider to be London.

    With such a tight budget you are making it very tough trying to guess what will also work as a long term investment.

    Well said, sound advice! Thanks
  • onlyroz
    onlyroz Posts: 17,661 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    £125k gets you quite a lot in Roehampton:

    http://www.rightmove.co.uk/property-for-sale/property-33021367.html

    They appear to be "retirement appartments" though...
  • Hillbilly1
    Hillbilly1 Posts: 620 Forumite
    Ninth Anniversary 500 Posts Combo Breaker
    http://www.rightmove.co.uk/property-for-sale/property-26489550.html

    I like this. An S shaped studio. Only 1 door off a 1 bed flat. Parking. Nice location/
    NOT a NEWBIE!

    Was Greenmoneysaver. . .
  • Strapped
    Strapped Posts: 8,158 Forumite
    edited 18 May 2013 at 2:55AM
    rufus86 wrote: »
    Yes, the postcode put me off! Its more Mitcham than Colliers Wood.

    It is Mitcham from the post code but it's an OK area of it I think. Don't be too rude - I have family there! (V close!) I'd pick it over Stratford that's for sure.
    They deem him their worst enemy who tells them the truth. -- Plato
  • Strapped
    Strapped Posts: 8,158 Forumite
    Another option you may consider if serious about long term rental potential is Crawley/Three Bridges. Depends where you need to get to in London. 35mins by train to London Bridge. Strong rental market due to Gatwick. Although the downside being - you live in Crawley lol. (It's not that bad - I managed it for many years and the steady stream of lodgers paid off my mortgage). Although a recent explosion of flat building means you need to be very picky about location.
    They deem him their worst enemy who tells them the truth. -- Plato
  • Running_Horse
    Running_Horse Posts: 11,809 Forumite
    Part of the Furniture Combo Breaker
    £130,000 will buy you a four bed house in Thamesmead.
    Been away for a while.
  • echomiaow
    echomiaow Posts: 30 Forumite
    Have you considered around Streatham Vale, the beauty is its in Wandsworth borough and yet reasonable prices compared to lots of other areas in the borough.

    I know someone who is looking to sell a great studio there, not sure if over your budget but I think she said around £155k mark but its a great g floor flat with access to its own patio area and a shared garden with a pool! I think its zone 3.
  • tim123456789
    tim123456789 Posts: 1,787 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    It genuinely saddens me that such tiny rabbit hutches are deemed suitable for human habitation.

    .

    I don't think they are.

    Most sellers expect them to be bought by people who work a couple of days per week in London and want to use them for an over-night to save on hotel bills.

    I don't think anyone realistically expects them to be used by someone as a "sole property"

    tim
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