South London FTB Dilemma: Croydon or Crystal Palace?

Sapphire

If I had to choose between the options you mention, I'd go for Crystal Palace myself. Croydon is a dump and Streatham is horrible – despite what estate agents are trying to build it up to. There is absolutely nothing attractive or useful along the (very long) high street. Streatham Common is the only attractive thing about it. If you do decide on Crystal Palace, though, be aware of its hilliness – streets can be very slippery in winter.

zagubov

As the other posters have said, pick somewhere where you'd be happy to live., not as a potential investment.

London has places where living would be miserable and rising house prices aren't an adequate reward for putting up with that.

padington

Personally I disagree about some of the above advice.

Trick is to find a place where chicken and betting shops are just begining to turn into coffee shops etc.

Knowing people that know the area can be really useful. Area's often have gentrification tipping points that can happen relatively quickly but you can feel them coming when you live there.

Don't listen to outsiders, listen to the locals. It's good to buy when there is blood on the streets but change is around the corner . When people are the most animated about how cr*p and area is, see it as actually holding some quite serious potential for change.

It's amazing how giving an asbo to the local gang followed by expectations of a good new transport link can transform a place as it prices losers out of the area and then change can happen quick.

Unless you have kids over seven, then just buy in the nicest area you can find, their friends will make or break them, not you or your wealth.

lisyloo

Have you looked at the viability of BTL under the new rules coming in April 2016?
Many are no longer getting into BTL, so if it was a vague notion the. You definitely need to do some more research.

Btw - there's quite a lot of red tape being a landlord these days, such as fitting carbon monoxide detectors. Not a huge job in itself, but of course like everything else has to be arranged around the tenants. The legal obligations have increased.
I'm just saying make sure you know what you are getting not because you're literrally rEsponsible for keeping people alive.

FTBSteve

padington wrote: »

Trick is to find a place where chicken and betting shops are just begining to turn into coffee shops etc.

Thornton Heath has just opened its first Costa, and a house is still affordable at the budget the original poster outlined...


.... I've just bought there, and am trying to reassure myself it was the right decision!

lemontart

streatham defo other two areas a no no, gone so down hill over last 10 years

lemontart

FTBSteve wrote: »

Thornton Heath has just opened its first Costa, and a house is still affordable at the budget the original poster outlined...


.... I've just bought there, and am trying to reassure myself it was the right decision!

good grief, a costa in Thornton Heath, bring back Liptons opposite the station I say!

tkane

lisyloo wrote: »

Have you looked at the viability of BTL under the new rules coming in April 2016?
Many are no longer getting into BTL, so if it was a vague notion the. You definitely need to do some more research.

Btw - there's quite a lot of red tape being a landlord these days, such as fitting carbon monoxide detectors. Not a huge job in itself, but of course like everything else has to be arranged around the tenants. The legal obligations have increased.
I'm just saying make sure you know what you are getting not because you're literrally rEsponsible for keeping people alive.

Only lazy part time BTL'ers who would not otherwise succeed in any other business would be put off by these new 'regulations'.

Fit in a carbon monoxide detector, 5 mins? Set up a Ltd company, 1 hour? Big deal...

Creditcardkid

I lived in South Norwood for 20 years from birth. My parents moved to Bognor 5 years ago after my dad was mugged once and almost mugged again (people came to his aid). I never felt safe there and I am a big old lump. Crystal Palace is better and will stay that was over SN and def Croydon. I worked in West Croydon for a few years and we would walk the female members of staff to the car park under the flyover due to several incidents.

Just my opinion.

lisyloo

tkane wrote: »

Only lazy part time BTL'ers who would not otherwise succeed in any other business would be put off by these new 'regulations'.

Fit in a carbon monoxide detector, 5 mins? Set up a Ltd company, 1 hour? Big deal...

This is pretty much what I'm saying.
It now needs to done professionally with the proper research into the regulations, not in an amaterish way anymore - that's a good thing I think, but something for new entrants to be aware of.

Btw - some are predicting 500,000 properties flooding the markets and I mean in the press not on amateur forums so clear.y not everyone agrees with you.

Anyway it was just a well intentioned warning that this is now needing to be done as a prope business and so least we seem to agree on that.