Buy in Barnet, Richmond or Walton on Thames??

economic

Barnet is very far out and not exactly lively specially if you are single. Good place to raise a family though.

zagubov

I suspect a flat in Richmond might well cost double your budget. It's a bit of a property hotspot in itself. I knew someone who had a rent-controlled flat there and wouldn't have dreamed of moving as she'd never be able to buy anything nicer than the place she rented.

sann420

My tips for buying a flat:

1) Buy close to transport. Ideally walking distance to tube or overland station.

2) As some one else suggested flats can be less desirable in very affluent areas as people who live there tend to buy freehold so I would suggest going for up and coming area rather than straight out upmarket area. This is just a hunch so am not speaking from experience.

3) With a 2 bed flat you can rent out one bedroom even while living in there if needed. With a 1 bed flat I think its a tiny bit easier to to rent it outright but just a tiny bit.

4) 300k for a 2bed in Richmond is tooooo good to be true. Make sure there is nothing wrong with the property.

Best of luck

economic

disagree with 2 completely. you have flats in knightsbridge, kensington, highgate etc that are worth a lot and in demand. they will be in demand for rent too as rents in these areas will always be at a premium to up and coming areas yet still be in demand.

sofarbehind

Do you have an AIP for borrowing x5 your salary? Is this with a 35 year term? It sounds like a very optimistic amount to borrow. I'm in a similar position with minimal outgoings and can't borrow that. Minus the great deposit admittedly...

JencParker

I live in Richmond and you won't get 2 bedrooms for you budget - nearer double that in Richmond and the surrounding areas. The most affordable will be around Isleworth but they won't be the nicest parts.

strawberries1

Thanks very much for ll your responses.
After some more research I've ruled out Richmond and Barnet.

Back to the drawing board to find areas I can buy a bed flat near a tube or rail station within the M25.

economic

as a single woman you should try for a one bed in a nice area in zone 2/3. more chance to meet single guys.

Dan-Dan

economic wrote: »

as a single woman you should try for a one bed in a nice area in zone 2/3. more chance to meet single guys.

or Ladies :beer:

hazyjo

Look at Leytonstone (E11), Wanstead, Walthamstow, Clapham & surrounds, Deptford, Crystal Palace. Forest Hill, Beckenham, Alexandra Palace, parts of Finchley, Peckham Rye...


Some prob way over your budget, some under, but worth checking the market in these areas.


Jx