First time buyer - budget areas in London

Shortypie89

Hi all

I'm hoping for some advice on areas to consider buying in in London. A bit about me, and my criteria:

- looking for a property under £250,000 (stamp duty purposes)
- preferably with two bedrooms
- zone 2/3 - hopefully close enough to cycle to work
- I currently work in the city and am in my mid-twenties
- planning on living here for at least the next 5 years, if not more

Areas I am considering, from general searches on property websites:

- Bethnal Green (and nearby East London spots)
- Brixton
- Clapham
- Stockwell
- Camberwell
- Peckham
- Walthamstow

If anyone has any other ideas, or can seriously recommend / warn me off the above, I'd be very grateful n.b. I grew up in North London and don't know any of the above that well.

BitterAndTwisted

Have you found anything suitable in those areas in your price-range? To be honest I'd be surprised if you had in Clapham or Camberwell.

There are two conservation areas in Walthamstow which are very desirable but they're not really close to the tube at Walthamstow Central but there are other overground stations which go direct to Liverpool Street in about 15 to 20 minutes.

Shortypie89

BitterAndTwisted wrote: »

Have you found anything suitable in those areas in your price-range? To be honest I'd be surprised if you had in Clapham or Camberwell.

There are two conservation areas in Walthamstow which are very desirable but they're not really close to the tube at Walthamstow Central but there are other overground stations which go direct to Liverpool Street in about 15 to 20 minutes.

Properties in Camberwell seem to crop up quite a lot in my search range, and there have been one or two in North Clapham (so I guess those are rarer). I assume to live in a nicer general area, the more immediate area or flat may be less nice - not sure which I should prioritise more?

Thanks for the advice on Walthamstow.

Out,_Vile_Jelly

2 bed under £250k in zone 3 is asking a lot.You are probably going to have to make a decision between size and location. You may want to look up the possibility of cycling, or using the overland trains that go to SE London as you get more for you money out there.

BitterAndTwisted

Shortypie89 wrote: »

I assume to live in a nicer general area, the more immediate area or flat may be less nice - not sure which I should prioritise more?

Always, always, always prioritse neighbourhood over individual properies if you are planning on ever selling. The worst house on the best street is always a smarter buy than the best house on the worst street. That's why they make a TV series entitled "Location, Location, Location" rather than "Property, Property, Property".

DannyboyMidlands

I've lived in Brixton, Clapham, Camberwell and Peckham over the years and can say that most are complete dumps, although for some reason in my 20's I was blind to this. So I guess you might be too.

In subjective order of niceness I'd say:

1. Clapham but you wont be able to afford it. Maybe the Winstanley Estate behind Clapham Junction - but don't.

2. As above. You probably won't be able to afford the nice areas. Don't be tempted to go too far towards Tulse Hill. Herne Hill is Ok but again, pricey.

3. Camberwell. A dump.

4. Peckham. A dump.


I find this article quite accurate:

http://www.thedailymash.co.uk/news/society/london-property-market-boosted-by-people-pretending-grim-places-are-great-2013053070398

hazyjo

Lots of hype about Deptford - might be one to look at. Possibly still over budget though.

I'd say add Highams Park to your list (E4), although it is further out (zone 4) - 2 stops to Walthamstow on the overheads. Very affordable, and I did quite like living there. Chingford (still E4, zone 5) is further out still, but I've recently moved there and can honestly say it's the best place I've lived. Fab flat here, right off Station Road (the high street type road where all the restaurants, cafes, bars, shops, etc are):

http://www.rightmove.co.uk/property-for-sale/property-27628266.html

Wanstead is nice but probably out of your budget.

Good luck

Jx
PS 20 mins from Highams Park to Liv St on train, 25 from Chingford.

donfanatico

Shortypie89 wrote: »

Hi all

I'm hoping for some advice on areas to consider buying in in London. A bit about me, and my criteria:

- looking for a property under £250,000 (stamp duty purposes)
- preferably with two bedrooms
- zone 2/3 - hopefully close enough to cycle to work
- I currently work in the city and am in my mid-twenties
- planning on living here for at least the next 5 years, if not more

Areas I am considering, from general searches on property websites:

- Bethnal Green (and nearby East London spots)
- Brixton
- Clapham
- Stockwell
- Camberwell
- Peckham
- Walthamstow

If anyone has any other ideas, or can seriously recommend / warn me off the above, I'd be very grateful n.b. I grew up in North London and don't know any of the above that well.

Your thread title s wrong - there is no such thing. Just kidding

isisini

I live in Walthamstow. It's pretty well connected to the city, and you could get a two bed period flat for under £250k. Although it's still pretty rough around the ages, bits of Walthamstow are nice, and it's getting nicer (since we moved there around a year ago, several dodgy pubs have re-opened as much nicer pubs, a local residents association & neighbourhood watch has been set up in our street, and a gardening club to maintain bits of communal land, we've had street parties and community events being organised, and our local area now has an award winning museum park and cafe). However it feels very like a place for young families or older FTBs, so it really depends what you want out of the place. I love it but I think a couple of years ago I would have missed being in London's trendy East London.

Dave_the_Ginger_Cat

When I first moved back to London, I rented a flat in Ealing, near Hanger Lane. It was purpose built and the two bed ones were about that price, as I considered buying one as BTL.

I cycled it periodically and it depends where in town you work - I was int he west end at the time and I think it was 11 miles each way.

If it appeals, PM me and I'll send you the road name

Shortypie89

DannyboyMidlands wrote: »

I've lived in Brixton, Clapham, Camberwell and Peckham over the years and can say that most are complete dumps, although for some reason in my 20's I was blind to this. So I guess you might be too.

How long ago were you living there? Some of these are supposed to be 'up and coming' now - though it's never clear exactly what that means!