First time buyer, Good areas of London?

sjparker

Hi All,

I've just accepted a job in London and I was looking to get on the property market within the next 6 months, so buying in London seems like a good investment even if I choose to move out in a few years.

I'll be a first time buyer looking at 95% mortgage. The job requires that I can travel all over the country 4 days a week and I'm onsite in Central London(near Monument tube) 1 day. So I'm looking for a flat around 200k(if that's even possible), within commuting distance to central London but also has good motorway routes should I choose to get a car to travel to client sites.

I don't know London that well, my current partner has lived in Fulham, South Ken and Earls Court so I know central/west a bit but obviously this is well out of my price range.

At first glance I've looked at Richmond and there was some studios there for between 180-200k. There is possibly some naivety in what I'm thinking but only because I don't currently know London that well.

I know London is London as there is crime everywhere but I'd prefer somewhere that doesn't have a bad reputation.

Any advice or suggestions would be much appreciated.

Thanks!

ConfusedofYorkshire

Southeast London is probably cheapest but 200k wont stretch far. Like you said though- you get crime everywhere in London.

Try forest hill, beckenham and Sutton

CLAPTON

if you are travelling 4 days a week then probably the most important issues are where you travel to and how you plan to get there.

ConfusedofYorkshire

Oops, I read it as central London 4 days a week!

Tiglath

£150-175k will get you a 1-bed flat in E17/E11/E10; all easy commuting to Liverpool Street, and round to Monument.

I_have_spoken

London buyers 'paying 25pc above asking price'

Only in “lunatic London” could someone with a budget of £500,000 be outbid on a succession of properties for which rival buyers were prepared to pay tens of thousands of pounds above the asking prices.

MysteryMe

If you are only working in London 1 or 2 days a week why live there, buy are nicer place in the Home Counties. You can be close to road networks and commute in. London Bridge/ Liverpool St/ Fenchurch St give easy access to Monument.

melanzana

This bubble will burst. So be very careful.

I would compare the cost per sq m for a one bed in central Paris to a similar in London.

And work it out from there,

I wish you luck. Cannot advise, as I don't live there.

sjparker

Thank you very much for the replies, you've all been very helpful! In terms of the bubble bursting, I do intend to be careful and I'm not looking for a property that's going to generate me any money in the future - just something that will hold it's value.

I've considered Home Counties but just have no idea which of those areas I'd be suited to, something closer to the M3 side of London would be great so I can travel to see family in Southampton. Although places like Woking, Basingstoke and Farnborough don't really take my fancy and really, I'd like to build a social life in central London so I'd like to be close enough to get in and out easily on a weekend or night out also.

There looks to be decent flats for £180k-ish in Teddington, does anyone know what it's like as a commuting route to London? I've also seen East Dulwich isn't bad. All I hear is people telling me to avoid East London at all costs.

I apologise if it seems like I'm floating a mess of ideas around, I'm just trying to get some perspective on locations and possible options.

Thanks again.

[Deleted User]

So 4 days a week, you won't be in London.. why pay London prices?

Do you know where most of your UK travel will be?

sjparker

ringo_24601 wrote: »

So 4 days a week, you won't be in London.. why pay London prices?

Do you know where most of your UK travel will be?

As I understand it, it could be anywhere in the UK - which may make it useful to get easy routes in to the main stations in London for the purposes of travelling to and from the clients sites.

My new job means I lose my company car, so I'm not decided yet(whether for the purpose of client travel) I'll buy another and expense my fuel or just use the train and expense it. Hence why living closer or in London will be easier for train routes.

Truthfully, I'm not sure what the "correct" answer for me is here, if I decide to all my travel by train, then the motorway access is probably not as important and I'd like to be closer to Central London.

I mean will I really get that much more for my money in home counties? I thought their prices got pushed up purely for the fact they are commutable distance to London!