Buying a studio flat in London

economic

yeh being close to a tube station does help. prices tend to be higher closer you are to the tube. saves a lot of time for people using the tube.

ruelle

Yep, I realise I'm paying more to be close to the tube. When the night tube finally launches hopefully that'll increase value too.

economic

ruelle wrote: »

Yep, I realise I'm paying more to be close to the tube. When the night tube finally launches hopefully that'll increase value too.

would it really increase in value because of night tube? if so wouldnt the value already have gone up?

ruelle

Hopefully?

http://www.cityam.com/234197/london-houses-have-missed-out-on-huge-price-increases-because-of-night-tube-delays

economic

doubt it will make much difference. cross rail would hve a bigger affect however lot of it has been priced in already.

buy hey i hope you are right as i just bought close to highgate station which is also on night tube.

kerri_gt

ruelle wrote: »

Yeah, I can see myself living there and it being a home just a slightly cramped one.

I bet if you'd sold that studio now you would've got loads more!

The exact same thoughts other people may have when you come to sell. Not every house / flat is for everyone, people have different tastes / requirements / priorities. We know for instance we could buy a bigger house in a different postcode area but choose to live where we do for family / friends / social etc. If you can see yourself living there for a time then chances are in a few years when you choose to move on, someone who is in the same situation as you are now will be viewing the property having the same thoughts you are having now.

ViolaLass

HappyMJ wrote: »

If you really want to be on the property ladder maybe you could buy a property outside of London with a higher gross return, let it out then use the rent you receive to pay the rent on a property that you really want in London that you would otherwise be unable to afford to buy outright.

Having magically not needed a mortgage for the purchase? Or having found one of those 'don't worry about it, give us the money when you want to' deals?

ruelle

kerri_gt wrote: »

The exact same thoughts other people may have when you come to sell. Not every house / flat is for everyone, people have different tastes / requirements / priorities. We know for instance we could buy a bigger house in a different postcode area but choose to live where we do for family / friends / social etc. If you can see yourself living there for a time then chances are in a few years when you choose to move on, someone who is in the same situation as you are now will be viewing the property having the same thoughts you are having now.

Let's hope so!

Verbatim

The ES last night reckoned that the new tax has led to a big fall in btl interest leading to a fall in asking prices on 1 & 2 bed flats. Might be worth checking the prices of 1 bedders now?

ruelle

I've noticed that actually. The only problem is there's hardly anything coming on the market at the moment. Think a lot of sellers are holding on to see what's happening in June.