London is a joke (moan)

benn25

Ill tell you what...London postcode prices are !!!!ing me right off.

Im not even looking to buy till the end of the year but ive been looking at the various sites over the last 3 months to see whats around for my budget.

The answer is practically jack diddly (!!!!!!!) squat!

Im looking at prices in the region of 170 to 180 and need something close to work as Im not and have never been keen on living far from work. Anyway, theres me thinking I could get something half decent for the money.

Im from Essex originally and moved to London 2 years ago. Quite frankly I thought I had acclimatised myself to property prices, but obviously ive been kidding myself for the last 2 years.

1st I thought I could get a 2 bed flat...yea no sweat. Wrong! Think again. It took me 2 months to come to terms with the fact I had to start looking at 1 beds. It literally killed me. So I start looking at 1 beds. Hell yea, this is much better. Wrong! Think again.

All the decent stuff is either "cash buyers only", "guide prices"!!!!

I mean cmon, give a guy a break! Im a single guy, who works hard and just wants a nice flat to live in and call my own. Not a pokey studio flat thats still gonna cost me the earth even though Im gonna have to wipe my feet on the way out.

What the hell is happening? When I looked at going to auction I got dealt a cruel hand that not many lenders can work towards a 28 day window, so that blows that idea out of the water. Then I started looking at the not so desirable areas of London. Basically where I have more chance of being robbed for my holey socks. But then found out that my petrol costs are gonna be included into affordability. Then I thought to myself its ok if I can get a lender who's multiplying by 5. Oh hang on theyve just decided to reduce that to 4.5 now. So even my 170 to 180 looks like pie in the sky now.

Im sick to death with this !!!!. A studio flat!? A bloody studio flat!? I lived in a studio flat when I was 19. Im well into my 30s now and never thought Id be going back to the same !!!!! I had to deal with 10 to 15 years ago.

Its just a complete and utter joke. I came to London to better my life and Im being forced...quite literally forced to turn around and go back. Not that me moaning is going to change anything but i might feel a little better when I wake up tomorrow knowing ive got it off my chest.

I doubt it though.

Jon_B_2

Move then?

Landofwood

benn25 wrote: »

Ill tell you what...London postcode prices are !!!!ing me right off.

Im not even looking to buy till the end of the year but ive been looking at the various sites over the last 3 months to see whats around for my budget.

The answer is practically jack diddly (!!!!!!!) squat!

Im looking at prices in the region of 170 to 180 and need something close to work as Im not and have never been keen on living far from work. Anyway, theres me thinking I could get something half decent for the money.

Im from Essex originally and moved to London 2 years ago. Quite frankly I thought I had acclimatised myself to property prices, but obviously ive been kidding myself for the last 2 years.

1st I thought I could get a 2 bed flat...yea no sweat. Wrong! Think again. It took me 2 months to come to terms with the fact I had to start looking at 1 beds. It literally killed me. So I start looking at 1 beds. Hell yea, this is much better. Wrong! Think again.

All the decent stuff is either "cash buyers only", "guide prices"!!!!

I mean cmon, give a guy a break! Im a single guy, who works hard and just wants a nice flat to live in and call my own. Not a pokey studio flat thats still gonna cost me the earth even though Im gonna have to wipe my feet on the way out.

What the hell is happening? When I looked at going to auction I got dealt a cruel hand that not many lenders can work towards a 28 day window, so that blows that idea out of the water. Then I started looking at the not so desirable areas of London. Basically where I have more chance of being robbed for my holey socks. But then found out that my petrol costs are gonna be included into affordability. Then I thought to myself its ok if I can get a lender who's multiplying by 5. Oh hang on theyve just decided to reduce that to 4.5 now. So even my 170 to 180 looks like pie in the sky now.

Im sick to death with this !!!!. A studio flat!? A bloody studio flat!? I lived in a studio flat when I was 19. Im well into my 30s now and never thought Id be going back to the same !!!!! I had to deal with 10 to 15 years ago.

Its just a complete and utter joke. I came to London to better my life and Im being forced...quite literally forced to turn around and go back. Not that me moaning is going to change anything but i might feel a little better when I wake up tomorrow knowing ive got it off my chest.

I doubt it though.

Your salary sounds very low for working in London. What do you do?

As a single person you should reach 5x your salary as a mortgage.

benn25

Jon_B wrote: »

Move then?

Why do people say that?

I dont want to move. My work is here. My friends are here. Im closer to my family and I moved down to better my life.

Its unfortunately not as simple as you make out my friend. Wish it was. Then I wouldnt have to moan.

Edit: I work in healthcare, so our salaries arent great. Im not one of these London folk who are earning 50+. Wish I was, but it aint the case. For what I do, back in Essex, Id be living like a god damn king, but down here, your just another pauper. lol

ognum

In my early twenties I lived in Kensington, guess what, I couldn't afford to buy there. It's no different now than then!

jjlandlord

benn25 wrote: »

Why do people say that?

What else to you want to reply to someone moaning that he cannot afford a specific area?

Jon_B_2

benn25 wrote: »

Why do people say that?

I dont want to move. My work is here. My friends are here. Im closer to my family and I moved down to better my life.

Its unfortunately not as simple as you make out my friend. Wish it was. Then I wouldnt have to moan.

Edit: I work in healthcare, so our salaries arent great. Im not one of these London folk who are earning 50+. Wish I was, but it aint the case. For what I do, back in Essex, Id be living like a god damn king, but down here, your just another pauper. lol

Clearly your life isn't better, if you define a great life to owning your own place in London.


You are in control of your destiny, you can make friends anywhere and being further from family doesn't mean these days that you lose contact.


Healthcare? You can do that job anywhere in the country.


Single and have no ties. The only time when being able to move area is truly possible.

Landofwood

benn25 wrote: »

Why do people say that?

I dont want to move. My work is here. My friends are here. Im closer to my family and I moved down to better my life.

Its unfortunately not as simple as you make out my friend. Wish it was. Then I wouldnt have to moan.

Edit: I work in healthcare, so our salaries arent great. Im not one of these London folk who are earning 50+. Wish I was, but it aint the case. For what I do, back in Essex, Id be living like a god damn king, but down here, your just another pauper. lol

The median wage for inner London was 34k in 2014 (meaning half earn more than this).

It sounds like you're earning even less. You can't afford to buy a property in London as a single person.

Things may change if you get a pay rise, change career or find a partner. For now you'll have to commute like most people.

benn25

I can afford it. Its just having to live in a pokey little studio flat thats literally broken me. I understand you have to start off small, but the studio's im seeing for silly money just disheartens me.
I have a plan which I wont stray from but it goes to show that London is so far removed from the rest of the country imv. Something I didnt really expect to encounter or realise to this degree.

Oh well, keep calm and carry on.

Landofwood

benn25 wrote: »

I can afford it. Its just having to live in a pokey little studio flat thats literally broken me. I understand you have to start off small, but the studio's im seeing for silly money just disheartens me.
I have a plan which I wont stray from but it goes to show that London is so far removed from the rest of the country imv. Something I didnt really expect to encounter or realise to this degree.

Oh well, keep calm and carry on.

You're working in one of the most expensive cities in the world on a low salary. You'll be happier if you realign your expectations.

You can't afford a house. You can't afford a lamborghini. You can't afford a private jet. There is no right to ownership of any of these items, you need to earn them.

charlamine

We just put our house on the market, the estate agent we are using said they have had a huge increase of London couple, registering in moving to our local area as they are simply priced out of London. We have a 2 bed good size house, large garden listing for 150-160k. Am 10mins walk from local station where I can be in central London in 45mins. I have worked in London for 10 years have loads of friends their but would not live there. Commuting is expensive but it ofsets against house prices by mile, and always get a seat from my local station. So there are good options if your willing to move outwards slightly