Looking to buy in London with £280-300k budget - Bromley?

Dunney77

Hey all,

Obviously I am conducting a lot of research myself but I just want to see if anyone could recommend some areas to further research re buying my first property.

I inherited a large some from a family member who recently passed away and want to get on the property ladder in London.

In reality, I can only really afford a 275-300k property and this really rules me out of many areas in central London.

To help pay my mortgage, I would look to bring someone in so this means I need a two-bedroom property.

But I am only 24 so would like to be close to London for work and social.

An area which sticks out as affordable is Bromley...what are peoples' thoughts on this area? Are there any other areas people would recommend looking at?

I am looking for a modern apartment/flat.

bouicca21

So apart from the 2 bedrooms what do you want? Near shops, near a station? Where are you commuting to? How much of a commute are you prepared to do? Bromley is not an area I would describe as affordable, and a lot of property that fits the 2 bed description and your budget is going to be in Downham.

Dunney77

I currently commute to Sloane Square but that could easily change to a company in the City.

Not to bothered about a commute but have heard there are areas outside central London where it only takes 15+ minutes.

It's more to just stop paying dead rent.

bouicca21

So you need to think about how long it takes to get from proposed property to a station with good connections, preferably to more than one London terminus? Remember fares aren't cheap. Plus you need to think about what sort of area you want to live in - pubs and clubs? staid suburbia? If you want to party in Town, you'll need late night connections too. Bromley does have fast non stop trains to Victoria, but you will need to be within a short distance of Bromley South station - or some of the other stations on the same line (even the stopping trains are reasonably quick). Much longer to get to Charing Cross or Cannon Street because you'd have to change.

Totally get the dead rent bit - DD similar age to you pays a horrifying amount in rent. But equally you don't want to get stuck somewhere that you end up hating.

Brown_Eyed_Girl

Look at areas that have a direct line into Victoria. For a 2bed the closest you'll get is Sydenham, Forest Hill or Norwood. Possibly Crystal Palace but unlikely Gypsy Hill and very very unlikely Dulwich. All of those have buses up to Brixton - which will get the night tube if it ever happens so you can still get home relatively easily

katejo

Have you considered E17? There are still a few under 300K
http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=OUTCODE%5E752&insId=1&minPrice=270000&maxPrice=300000&minBedrooms=2&maxBedrooms=2&index=10

Very convenient for commuting into Central London (victoria Line and London Overground to Liverpool St)

Waterlily24

Is Bromley North station still there? That used to go to a different part of London (many years ago) but I can't remember which station. I can't even remember how long it took to walk from one station to the other but it can't have been any more than 15 mins.

Waterlily24

Waterlily24 wrote: »

Is Bromley North station still there? That used to go to a different part of London (many years ago) but I can't remember which station. I can't even remember how long it took to walk from one station to the other but it can't have been any more than 15 mins.

Just had a look and you have to change at Grove Park to get up to London these days.

Things seem to get worse instead of better!!!

StumpyPumpy

How much do you like commuting? Yes, I know: a pretty daft question, but what I mean is, are you someone who hates the time it takes the most or who hates the crush and standing up all the way? For me, the crush is much worse than the time, so that colours my view.

For instance, Reading - Paddington takes around 1/2 hr. But in rush hour is a nightmare, a fight to even get on the train sometimes, never mind sitting down. On the other hand, I have also lived at the end of a rural line: 50 mins to central London but only 10 or so people got on the train at my end so you always got a seat, whereas 5 stops down the line it was heaving. It meant I had a seat in (relative) comfort guaranteed for at least half my commute and I didn't mind that it was a slow train that took longer.

I don't commute now but if I ever decide to return to gainful employment in the city and moved house, I would be concentrating my home buying around terminal villages on rural lines rather than high speed links that are already oversubscribed.

SP

KayTM

You might find Croydon has a bit more life than Bromley for someone your age. They have several new developments in your price range. East Croydon Station is only about 16 minutes from London Bridge.

Prices are going up rapidly too, so if you don't like it, you should at least have made some money from the capital appreciation for moving on.

Landofwood

StumpyPumpy wrote: »

How much do you like commuting? Yes, I know: a pretty daft question, but what I mean is, are you someone who hates the time it takes the most or who hates the crush and standing up all the way? For me, the crush is much worse than the time, so that colours my view.

For instance, Reading - Paddington takes around 1/2 hr. But in rush hour is a nightmare, a fight to even get on the train sometimes, never mind sitting down. On the other hand, I have also lived at the end of a rural line: 50 mins to central London but only 10 or so people got on the train at my end so you always got a seat, whereas 5 stops down the line it was heaving. It meant I had a seat in (relative) comfort guaranteed for at least half my commute and I didn't mind that it was a slow train that took longer.

I don't commute now but if I ever decide to return to gainful employment in the city and moved house, I would be concentrating my home buying around terminal villages on rural lines rather than high speed links that are already oversubscribed.

SP

There are plenty of slow "stopper" trains from Reading to Paddington, taking around 50 mins with a guaranteed seat.