First time buyer: one bedroom in London

redefinr

AFF8879 wrote: »

If you do go for a studio, make sure at least the kitchen is separated - as others have said, cooking / eating / relaxing / sleeping in a single room will feel like you’re in a prison after not too long, and trust me the mentality is completely different when you are renting, and know you can “escape” with relative ease.

If you’re willing to comprise slightly on area, you could easily find a nice one bedroom flat in London for the £300k mark. Do you work unsociable hours / have some type of disability that makes commuting on tube unfeasible / etc, that makes living in a narrowly defined area essential?

I work as a freelance with many 'last minute' booking. Sometimes even on the same day so for me moving with ease is definitely a must.

I mean, yeah post-Brexit there could be a scenario where properties drop even more - but let's also be realistic, there won't be studios in a relatively-central location (either Goldhawk Road or Battersea Bridge) which will sell for 100k. It's Brexit, not 'apocalypse now'.

I want a place where I can now live in but also a good investment for my future where if I get enough of it I can rent that out easily and cover the mortgage or make an income out of it... and that's another reason why I want to keep a good location.

hazyjo

redefinr wrote: »

@hazyjo to each its own....but.....council flats are not good, above the shops are not good.....new builds are not good too now. I start feeling like is never good enough? My budget is quite tight, definitely an entry budget to buy a property in London so the choice is not as broad as it may seem.

Because you can't afford what you want to buy. It can take just as long to get across London if you're say in West London and have to get to the city as it would travelling from somewhere in north London heading down to either east, south or west or heading up from south London.


The Battersea one you linked to isn't even near a tube. A mile to the nearest one. If you want overhead trains, fine, but it doesn't tie in with what you said in that last post. You'll want to be near a tube if you're looking to buy in central London. Might as well buy in Walthamstow and be at Kings X in 15 mins, another 4 mins and you're in Oxford Circus, or W'stow to Liverpool St in 18 mins. Gives you quick access into all parts of London.

Crashy_Time

redefinr wrote: »

I work as a freelance with many 'last minute' booking. Sometimes even on the same day so for me moving with ease is definitely a must.

I mean, yeah post-Brexit there could be a scenario where properties drop even more - but let's also be realistic, there won't be studios in a relatively-central location (either Goldhawk Road or Battersea Bridge) which will sell for 100k. It's Brexit, not 'apocalypse now'.

I want a place where I can now live in but also a good investment for my future where if I get enough of it I can rent that out easily and cover the mortgage or make an income out of it... and that's another reason why I want to keep a good location.

Dropping TO 100k is unlikely, but say it dropped BY 100k, could you deal with that, and renting out property in future is unlikely to be similar to the last decade or so, it will be taxed and scrutinised much more, even if JC doesn`t get in. Are you afraid of waiting and then prices lift after Brexit for some reason?

redefinr

Crashy_Time wrote: »

Dropping TO 100k is unlikely, but say it dropped BY 100k, could you deal with that, and renting out property in future is unlikely to be similar to the last decade or so, it will be taxed and scrutinised much more, even if JC doesn`t get in. Are you afraid of waiting and then prices lift after Brexit for some reason?

that's exactly what worries me. I feel like i can grasp something just about now but if the prices goes back to what it was last year I'm out of the game.
Rent is still high though, I don't understand why rent is still stuck at ridiculous prices.

The flat in Battersea is quite an 'affordable' option but the girl is giving me a bit or pressure now because she wants to sell asap...

redefinr

Made an offer this morning after few days of thoughts. So far I have to say DoorSteps seems to be quite alright.

One of my main worries was the cladding and she guaranteed to me she has a proof that the Burneli Building (which contain the studio I want) doesn't have the flammable type. She said she's got paperworks to proove it. She seemed very aware of the problem so I guess is a huge worry between the residents of the buildings.

I keep hearing I need a broker for my mortgage, what's the advantages of having a broker to get a mortgage?

Retired_Mortgage_Adviser

Congratulations, hope it gets accepted! Which property was it finally?

Don't stress too much about the cladding, the mortgage lender will want the required assurances so if it's problematic, you are unlikely to get a mortgage on it anyways.

A whole of market independent mortgage broker will be able to suggest the right lender and product that suits your particular circumstances.

redefinr wrote: »

Made an offer this morning after few days of thoughts. So far I have to say DoorSteps seems to be quite alright.

One of my main worries was the cladding and she guaranteed to me she has a proof that the Burneli Building (which contain the studio I want) doesn't have the flammable type. She said she's got paperworks to proove it. She seemed very aware of the problem so I guess is a huge worry between the residents of the buildings.

I keep hearing I need a broker for my mortgage, what's the advantages of having a broker to get a mortgage?

redefinr

Thanks! This is the property:


https://www.rightmove.co.uk/property-for-sale/property-83378963.html

Skiddaw1

Hope it works out!! Like that one- pretty spacious for a studio isn't it? Nice building too.

VincentVincent

redefinr wrote: »

Made an offer this morning after few days of thoughts. So far I have to say DoorSteps seems to be quite alright.

One of my main worries was the cladding and she guaranteed to me she has a proof that the Burneli Building (which contain the studio I want) doesn't have the flammable type. She said she's got paperworks to proove it. She seemed very aware of the problem so I guess is a huge worry between the residents of the buildings.

I keep hearing I need a broker for my mortgage, what's the advantages of having a broker to get a mortgage?

Good news. Purely out of interest though; what is the situation with the lack of washing machine? Are there cleaning services in the building or is it hidden in that cupboard?

redefinr

I think s a decent size for a studio, not too small not too big.

The washing machine was inside one of the storage you can see in Pic5, on the left of the entrance.

Let's see how it goes...