London Property

movinghelp

Hi there, any advice very welcome.

My boyfriend and I are looking to buy a 2 bed property in London over the next 6 months. We have around a 100k deposit and a 50k joint income so are looking at properties of a maximum of 300k. Ideally though I would be more comfortable at 250k and below. I've lived in Stockwell previously and we currently rent in Kentish Town.

His main priority is living either top floor or in a low rise, he really wants to avoid ex-council is possible. I need to commute into central and he currently works in North London but he may move offices in the future. He also cycles so isn't that worried about a longer commute.

We really want to be IN London (he's from Kent so I do know how much better value you can get in Bromley/Orpington/Petts Wood) as the plan is to rent out the flat after 5 years or so and take in a lodger if necessary to pay mortgage.

Any tips on where would be good value to buy??

hazyjo

Hither Green might be a good option (more for your money).

Personally, I'd go for Greenwich, Blackheath, Maze Hill or Westcombe Park. These seem like good options:

http://www.rightmove.co.uk/property-for-sale/property-25842912.html

http://www.rightmove.co.uk/property-for-sale/property-32873990.html

Jx

hazyjo

PS just noticed 2nd one is lower ground floor. That just leaves you the first one then... great flat by the look of it! Dunno what the lease length is, etc. Not going to get much over that way for your bucks.

movinghelp

Thanks for the reply. Both those flats look lovely but just seem too far out. The commute will take several legs and if I'm going to do that I may as well be out in Kent as it's a quick train to Charing Cross and then I can walk. I was thinking maybe Brixton or Battersea? I do like the idea of being east just maybe not that far east?

hazyjo

Westcombe Park STATION (for that 2nd flat) is 26 mins direct into Charing Cross in rush hour...

Greenwich Park on your doorstep, plus Greenwich and all it contains, and Blackheath 5 mins away. LOVED it there.

SE3 (South East London - not East).

You'll struggle to find anything 'nice' within that budget, I'd expect in Brixton or Battersea...

Jx
PS Maze Hill only 0.5m away so would make the journey time even less than 26 mins from Westcombe Park station.

movinghelp

Ah I thought you had to change at London Bridge from Westcombe although it does look like Blackheath is direct. My apologies!

MangoStan

Not a direct influence on your buying budget, but Battersea has the cheapest council tax in the country:

http://www.batterseapeople.co.uk/Council-tax-Battersea-revealed/story-18192131-detail/story.html

And it might be a good investment since there are plans to extend the Northern Line there:

http://en.wikipedia.org/wiki/Northern_line_extension_to_Battersea

Might make it a pretty attractive rental property in 5 years' time. Currently though, trains go from Battersea Park and Clapham Junction/Queenstown Road to Victoria and Waterloo every 7 mins-ish, respectively.

hazyjo

movinghelp wrote: »

Ah I thought you had to change at London Bridge from Westcombe although it does look like Blackheath is direct. My apologies!

Blackheath is mega-expensive (the nice parts) so you'd struggle unless you'd live on a main road. Some gorgeous converted properties in Charlton Road/Shooters Hill Road, etc.

Westcombe Park has the best of all worlds though and has a nice feel about it.

Wanstead on Central Line's lovely too. Again, pricey!

Jx

movinghelp

Yes I have a friend who lives in Wanstead and speaks highly of that area, especially Snaresbrook and Leytonstone. Again though they have quite a lot of difficulty commuting on the central line as there seem to be quite a lot of frequent delays.

I guess I have been spoilt really as I'm used to living within half a mile of a Victoria/Northern line tube. Ideally I would want to rent near where I would plan to buy but it's not really an option now. I do love north London but a 1 bed can easily be around 350k here so it's just way out of our budget.

Lizling

MangoStan wrote: »

Not a direct influence on your buying budget, but Battersea has the cheapest council tax in the country : (...)

You won't get much in Battersea for £250k or under except ex-council, and I'd be reluctant to buy in most of the council areas there.

Bazshawkins

We bought recently in Bermondsey. Very quick in to Central London on the Jubilee Line, well connected with buses as well. We got a 2 bedroom flat for £236k and there are plenty available below the £250k mark - you might have to consider ex-LA though (we did).

Have a look at SE16 on Rightmove/Zoopla.