Moving to London - is it possible?

Morglin

chewmylegoff wrote: »

With £240k you could probably just about get a 3 bed somewhere like Welling or Plumstead, SE London / Kent borders.

However, they aren't particularly nice areas and whilst I have no direct knowledge of the schools around there I'm going to wager that they aren't up to much.

You would struggle to get a house for that in Welling. Kent borders are expensive, especially out this way.

I would imagine the Medway towns are the best bet, but travel costs would be high, and the areas aren't that nice.

£30k is not a particularly good wage, in London...so think carefully. London living costs tend to be very high.

Lin

Errata

OP I think you need to wake up and smell the coffee!

Pidge_jen

I wouldn't work in London for any less than 40k. We live in herts and even with 2 of us bringing in above average wages, we would struggle to pay for commuting costs without this uplift (I'm currently on 30k and so is he). Plus the hour or so you spend commuting each way isn't worth the sacrifice to me, it's 6k for a season ticket just into London, without tube or bus costs when you get there to travel around. My in laws live up north and looking at their quality of life compared to ours, I would stay up there - if we weren't tied to our jobs down here we would probably move. Also, despite our wages we cannot afford even a 3 bed house to buy in a decent area in our town.

DesignDad

This doesn't seem realistic, considering what you want. Your commute will be lengthly and the house you expect will most definitely be in a less than perfect area, and as for the 4 bedrooms, good luck.
I'd strongly suggest sticking it out and waiting or a better job where you live, and then move out into a better area there, and enjoy the better lifestyle. 30k in London is literally nothing. I've just been offered a new job on nearly twice that and live in West Yorkshire. I'll not lie but i feel like me and the wife live like Royalty and in a very nice house too, in a beautiful area.

Have a long hard think before moving to London. My mates are earning similar to me 60+ and I'm not envious of their lives at all.

Annisele

I live in London now, and I'm earning about three times what I did when I lived in the North. The house I had in the North was much larger, and in a much nicer area, than the flat I live in now.

London has many advantages, but housing is not one of them. Unless you have a serious amount of capital behind you, I think a £30k wage to support five people living in a nice area is hopelessly unrealistic.

It becomes a bit more realistic if your wife also works, and also earns £30k - but then presumably childcare will be a problem.

princeofpounds

Agree with all the others; I would not do this.

Low wage people basically make ends meet by a) house sharing or b) being lucky enough to find themselves in the state housing system.

Your lifestyle would sink massively.

Plus the schools your children will go to will probably be much worse (although not necessarily)

ethank

You will not be able to buy in London at this level.
Why are you so keen to move there?

GoldenShadow

I live in a home county 35 mins from Liverpool st. My boyfriend and I have combined income of 52K, no debt, no dependants, but won't be looking at anything priced at more than 220K and ideally would be looking more around the 180K mark.

I don't think I ever want to work in London, if I do it will be within the next five years. Lots of my friends are Londoners and intend to stay forever but I am a country gal. Won't catch me doing the family thing even where I am now!

AdrianC

phill99 wrote: »

You wont buy anything in London for £240k.

If only somebody would launch a website that allowed you to do a search for, say, 3-4 bed properties under £240k in London. They'd make a fortune!

Oh, wait, they have.
http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E87490&maxPrice=240000&minBedrooms=3&maxBedrooms=4&retirement=false&partBuyPartRent=false

Are these prime properties in the best areas of London? Of course not. But they DO exist. In non-trivial quantities.

Running_Horse

Hurrah. Let's all relocate to Thamesmead.