I'm 26, can't affford to buy London, so buy elsewhere?

[Deleted User]

There are around 137 flats in London available for sale between £180k and £200k that have 2 or more bedrooms.

Find one you like, rent the other room out, bosh

Wait a few years and laugh how the value of the flat has risen at triple the rate as your mates houses in Liverpool

phoebe1989seb

ringo_24601 wrote: »

There are around 137 flats in London available for sale between £180k and £200k that have 2 or more bedrooms.

Find one you like, rent the other room out, bosh

Wait a few years and laugh how the value of the flat has risen at triple the rate as your mates houses in Liverpool

This ^

In 2011 DS (then 22) and his GF and her younger sisters bought a two bed Edwardian flat in Colliers Wood for around £235k (no mortgage due to inheritances/parental help). At the same time we paid cash for a four/five bed 2500 sq ft period house in need of total gutting/restoration in rural Wiltshire for £250k. The house was unmortgageable due to the dire state it was in.

Three years on DH etc sold their flat for £385k having spent less than £10k *improving* it. DH and his GF were able to buy a new (period conversion) flat outright in Brighton with their share of the proceeds.

We too sold our house - also for £385k - having spent £100k+ on the refurbishment, much of which were necessary works although admittedly we did some high end finishes that brought the costs up

Go figure.......and GL with your decision OP.......

PasturesNew

If I were you I'd wait until I got the higher salary, then plough everything into a place in London that I could afford - even if it's tiny. At least then it's home.

Don't worry about what people on smaller wages are doing a few hundred miles away. That's the short-term. In the medium-term and long-term you'll be "better off" than them as you've got opportunities.