First time buyer - budget areas in London

Shortbread_McFiver

Crystal palace! I moved here a few months ago and love it. Hardly ever want to venture out of the area.

You could probably get a 2 bed in a block for 250, or a one bed with garden

katejo

I have been living in Walthamstow since 1993 when I bought a Warner flat . I now have a terraced house . The asking prices for ex Warner flats seem to be creeping up at the moment . I saw one ad yesterday asking for 350 K . Some of these prices do seem a bit excessive for a flat . I don't know yet if sellers are achieving their targets .

[Deleted User]

If you look up at zone 6, borehamwood, you can get a 2 bed house, and the train will take you all the way to Farringdon. Even up in the 'burbs you will still only get a 2 bed house for £250k

totallybored

Shortypie89 wrote: »

Currently Farringdon, but I work away a lot (out of London / out of the country) so having larger transport hubs accessible would also be handy (though which direction I'll be sent in is unpredictable so hard to plan around it!).
I don't need to cycle every day, but when I do, I'd say around 40 mins max one-way is practical.

Thank you everybody for all the advice - much appreciated. I know I can't get much for my budget at the moment, but I'm not sure that I'll be in a better position if I wait (if house prices rise anyway and my my wage is spent on expensive rent). I don't need somewhere glorious, but somewhere to call my own.

I'd have a look at Streatham as there is a direct train from Streatham to Farringdon. Also easy to get to Brixton for the Victoria line.

Tiglath

I'm in the Marshes/Coppermill Lane area of Walthamstow and it's changed a lot in the 13 years I've lived here. Definitely up and coming now, and offers everything I need within walking distance. The transport links are excellent - 15/20 minutes on the Chingford line to Liverpool Street, plus the Victoria line, or buses to Leyton/Stratford and the Central line. We bought our 3-bed 1906 house with large garden for £120k, and similar are on the market for £275k upwards now. Prices are higher in Walthamstow Village. Can't see us moving until I retire from the City.

ThemeOne

You'll probably find a lot of ex-local authority properties coming up at your price range. Be aware that mortgage rules are quite tight for these properties, and it was traditionally the case that lenders wouldn't consider units in buildings over 4 stories - this may change, but certainly when I was looking around lending criteria were getting stricter rather than more generous about this.

That said, these properties can e spacious and well-built, and those which are mortgageable in the zones you want, are now becoming increasingly expensive.

tim123456789

demontfort wrote: »

Just accept your lot for 250k or even more in London if you want some half decent space you have a choice of living in:

• An inner city dump (all the areas you mentioned) kidding yourself that your area is up and coming (whatever that means)

• So far out in the suburbs that you might as well move to the country

Unless you are close to 60 and want the benefit of a bus pass 8 years early :rotfl:

Lizling

totallybored wrote: »

I'd have a look at Streatham as there is a direct train from Streatham to Farringdon. Also easy to get to Brixton for the Victoria line.

The trains from either Streatham Common or Streatham Hill to Clapham Junction and Victoria would take care of needing large transport hubs too. Definitely worth a look.

You'd probably need to look at the Streatham Hill end (next to Brixton) to keep the cycle journey under 40 minutes, but hat puts you a mile or so from the station for trains to Farringdon.

Dimey

My friend's Mother is about to put her 2 bed first floor maisonette in Elephant & Castle on the market.

You access the maisonette through a door (with intercom) up in the lift (or stairs) to first floor so its more secure than being on a road. The lounge & kitchen are on the fist floor and the 2 bedrooms and bathroom are on the second. So it's like living in a house.

It's within 2 min walking distance of London Bridge and Westminster Bridge stations. City Airport just down the road. The Elephant shopping centre is across the road. The flat is ex council leasehold and has a parking space and optional garage and optional shed. It will cost £250,000.

Might be an area worth your while looking in. Surrounding areas are being developed by the "moneyed" people so could be a good investment.