FTB Budget £475k+ with good commute to London

itsmehere

Hello All,

We are first time buyers planning to start a family, currently renting in zone 5(SE) and working in London (10 mins walk from Blackfriars station and Tower Hill station respectively). We have been looking online,booking viewings, viewing houses suited to us for weeks but haven!!!8217;t been able to find the one fulfilling most (if not all) of our priorities.

Our main priorities are as below:
1. Budget (upto £475k - can push a bit if ideal property)
2. Door to Door house to work commute time to be max 70 mins
3. In the catchment area of at-least !!!8216;good!!!8217; primary school
4. 3 bed house (or 2 good sized double bed with storage) (min 950 sqft)
5. Safety of the area

I would really appreciate any insight or advice on areas from people in similar situations.

Thanks in advance!

Candyapple

Have a read of this similar thread, although your budget is better:
https://forums.moneysavingexpert.com/discussion/5834172/ftb-advice-on-areas-to-buy-c-230k-3-bed-house-with-good-commute-into-central-london

Where are your family located? Some people want to be in certain areas to be closer to their families or for them to still be able to help with childcare. Or does this not factor into your decision as to what areas you are looking in?

Will you be walking/cycling/driving to the station from your house?

What areas have you been looking at so far?

itsmehere

Hi Candyapple. Thanks for your reply. I read similar thread(s) but decided to post as our criterias are quite different. Family is not a criteria as no one near London. We would rather be walking/taking a bus to the station. We have been looking at Bromley/West Wickham area.

hutman

As a FTB i would be wary committing to that level of leverage AND/OR sinking your deposit given the current uncertain nature of the housing market.

hazyjo

Can't recommend Leigh on Sea highly enough. Loving it. Been there since end Nov (and researched it for years before that). Train straight into Fenchurch Street (43 mins one way for me, and I think around 48 the other) and less than 4 mins' walk to Tower Hill.

C2C trains which means fares cheaper than other train lines. I paid £3,292pa (don't need tube). Think it's increased slightly since then.

It came first in a rightmove survey of the happiest places in the UK to live in 2017 and second (to Leamington Spa) last year, beating the likes of popular Harrogate, etc.

Some say it's going a bit TOWIE-fied, but I think it has a more upmarket older feel generally (can be buzzing and younger at night). Lots of independent boutique style clothing and homeware shops, restaurants, bars, etc. I lived in Brentwood for a couple of years and can say they're poles apart!

I think the schools are good - no kids so can't swear on it. I know there are excellent ones towards Southend. I have friends with kids nearby who often visit Leigh.

Take a virtual walk down The Broadway to check it out.

You also have Old Leigh which is very popular - we get a lot of day trippers! Pubs, restaurants, cobbled streets, a gallery or two, and seafood.

If you'd rather just a more residential area in suburbia, nearby you have Hockley and surrounding areas. Rayleigh has its own town but it's not so much my cuppa.


Bishops Stortford, Hertford, Stansted Mountfitchet and Ware may also suit - not sure if your budget will allow those though.

Good luck!

hazyjo

hutman wrote: »

As a FTB i would be wary committing to that level of leverage AND/OR sinking your deposit given the current uncertain nature of the housing market.

Did I miss the bit where they said what they would be borrowing and what their deposit was? Might have an inheritance for all you know.

I have always stretched myself (apart from my current house). And one of those was when interest rates were in double figures. I have made and lost money with housing - recessions have usually worked in my favour as they have allowed me to take a much bigger leap to a house I would have never have afforded if prices hadn't dropped. I've never overpaid a mortgage, but if you really think you'll be moving again in a few years or the interest rates will have shot up after 5 years (I'd suggest fixing a rate for 5 years), it's advisable to overpay.

Buy something you can stay in. I really don't know why people panic - you'll only really lose money if you have to sell. I can't imagine interest rates are going to shoot up to double figures or over 5% in the next 5 years or so. They'll be buying with some of the lowest interest rates in history.

Only thing to be careful of is if you have only one salary coming in if you do have kids - don't stretch if that's likely to be a struggle.

Candyapple

Have you had a look at Beckenham? I know the area very well and you can easily find a 3 bed meeting your requirements for your budget. I have 3 friends whose kids attend primary schools locally and they are very happy with the schooling. I just did a quick search on Ofsted and there are 29 primary schools within the locality that have outstanding status. Safety wise never had a problem whilst walking about late at night as a lone female and the vibe is quite young/upmarket. Currently there is a lot of regeneration work happening on the high street.

Beck Jct to Blackfriars is a direct train and takes about 25-35 mins in the morning. To Tower Hill you'd have to change at Victoria but the journey in total would take 40-45 mins. You also have Beckenham Hill station too which is similar timings if you lived closer to that side.

Here's what a quick search came up with:
http://www.rightmove.co.uk/property-for-sale/property-53700975.html
http://www.rightmove.co.uk/property-for-sale/property-63833440.html
http://www.rightmove.co.uk/property-for-sale/property-53373219.html

pretamang

Have you looked along the city thameslink route?

For £475k you could get somewhere in Mitcham which is 30 minutes from Blackfriars, or a hop on the bus to Tooting for the northern line.

Ben_Fogles_Dog

itsmehere wrote: »

Hi Candyapple. Thanks for your reply. I read similar thread(s) but decided to post as our criterias are quite different. Family is not a criteria as no one near London. We would rather be walking/taking a bus to the station. We have been looking at Bromley/West Wickham area.

Don't dismiss Croydon, much as some people like to put it down there are far more nice areas than bad and has excellent transport links into London. If you are somewhere like Addiscombe you can be at East Croydon in around 7 or 8 minutes on the tram and then you can get a direct train to Blackfriars (Or London Bridge/Victoria/Charing Cross). Similarly you could get the tram the other direction to Beckenham Jct, where again you can get a direct train to Blackfriars.

£475k would get you a decent size 1930's 3 bedroom terrace with a good size garden.

Kynthia

Try looking at what your budget gets you in Hornchurch, Upminster Bridge and Cranham. It's not as pretty as Leigh-on-Sea but you have the advantage of using the district line as well as (or instead of) the C2C rail service. You should be able to get the bus fairly easily to Upminster station which gets you to Fenchurch Street (by Tower Hill) in 25 minutes.

There are some nice Primary schools around including a couple rated excellent by Offsted. Some are near Gides Park station where crossrail is coming, should you move jobs in the future. There are nice parks, children's activities and the M25 isn't far if you regularly drive to visit family.