Single first time buyer in London

Cloudydaze

That's about as close to the runway as you can possible get!

You'd better factor in the cost of earplugs in your budget.

StumpyPumpy

Cloudydaze wrote: »

That's about as close to the runway as you can possible get!

You'd better factor in the cost of earplugs in your budget.

Actually, East Bedfont isn't that noisy as it isn't directly on the flight path and is too close to LHR to have other planes overhead. Certainly a lot quieter than Hounslow which is further from the airport but directly in line with the runway and so has the 90 second stack coming straight down the main road.

Mark1987

I used to live in Hounslow Central, for me not so bad for the noisy.
I heard nice things about Hounslow. I mean that it is a good place to invest now because they expect a raise of 20% in the next 5 years. What do you think?
It is not very nice but I wouldn't say unsafe. Plus is very well linked to central London and to nice places like Richmond and Kingston.

hazyjo

20% in 5 years doesn't sound a lot to me. Lots of Chingford/Highams Park, E4 have risen 25-65% in places in 2 years.

It used to be said that, on average, the price of a property price would double every 10 years.

Jx

Mark1987

wow, 65% in 2 years.

double every ten years. do you think it is also possible to have a decrease of 50% in ten years or it's almost impossible?

hazyjo

Yes. Some of Northern Ireland, even Belfast, managed that (within 2-5 years).

I paid £274k for a 3 bed house in North Chingford in April 2013. It's currently worth £380-400k. 50%-ish increase in 2 years.

A lot of it's luck.

Jx

Mark1987

What do you think of a similar investment to avoid London, mortgage and to save money each month for something better in the future?

http://www.rightmove.co.uk/property-for-sale/property-49218140.html

It's very well linked with London. Prices there seem very low, there are other similar properties in that area. Like this one for example: http://www.rightmove.co.uk/property-for-sale/property-49538414.html

Do you think it's a good solution for my plan to sell the property very quickly and avoid the mortgage?

vuvuzela

Mark1987 wrote: »

What do you think of a similar investment to avoid London, mortgage and to save money each month for something better in the future?

http://www.rightmove.co.uk/property-for-sale/property-49218140.html

It's very well linked with London. Prices there seem very low, there are other similar properties in that area. Like this one for example: http://www.rightmove.co.uk/property-for-sale/property-49538414.html

Do you think it's a good solution for my plan to sell the property very quickly and avoid the mortgage?

Luton isn't a hugely desirable place to live in, hence prices are low. If you bought there, you may struggle to sell on quickly. If you take into account fees for buing and selling, you will be better off renting if you only want to live there a matter of months.

What exactly do you want to do ? You've gone from London to Luton in a few hours...

Mark1987

Quickly, my idea is to invest my savings in London to sell everything then and move to the north, Manchester/Leeds/Birmingham where I could afford a nice house for me and another house to rent. I'm not sure I want to spend all my life in London but who knows, I may change idea next years... and also I may find difficult to find another good job in the north. I just don't want to buy anything definitive in London and not even a house with a long mortgage.
(I work in north London, that's why I was thinking about Luton.)

vuvuzela

Mark1987 wrote: »

Quickly, my idea is to invest my savings in London to sell everything then and move to the north, Manchester/Leeds/Birmingham where I could afford a nice house for me and another house to rent. I'm not sure I want to spend all my life in London but who knows, I may change idea next years... and also I may find difficult to find another good job in the north. I just don't want to buy anything definitive in London and not even a house with a long mortgage.
(I work in north London, that's why I was thinking about Luton.)

If you are not looking for a long-term "buy, live in, sell", and want to try and make a profit in a few months, it's very unlikely you'll be able to do so.
Also if you're a bit impetuous with ideas (and therefore cash), it's definitely not a good idea. You don't want to get stuck holding property in an area far from where you want to be, and I suspect if you're looking for very cheap places in areas such as Luton*, then that may well happen.

*I've nothing against Luton, but it's a very different property market to London.