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First time buyer: one bedroom in London

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Comments

  • redefinr
    redefinr Posts: 208 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    numbercruncher8 wrote: »
    IMO you're mugging yourself off buying a studio... if prices do drift downwards they will be hit quite hard, as one-beds look more appealing.

    I would only compromise to live in a studio either if the price was fantastic, or the location was fantastic, or maybe if the size of the studio was massive, I don't think any fall into the criteria here.

    I'd move a tiny bit further out unless there is a concrete reason why you need these locations.


    Well, Shepherd Bush is nicely located, can't deny that. 34sqm is not massive but definitely more than average size for a studio
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    redefinr wrote: »
    Well, Shepherd Bush is nicely located, can't deny that. 34sqm is not massive but definitely more than average size for a studio

    True, sales are still plummeting though.

    https://www.plumplot.co.uk/Western-Central-London-property-transactions.html
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    https://www.rightmove.co.uk/property-for-sale/property-71670601.html

    50k price drop since June, more needed?
  • lisyloo
    lisyloo Posts: 30,077 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I personally would be very reluctant to live in a studio.
    I’ve lived in many serviced apartments temporarily.

    Most (apart from basement) were extremely hot. In London it’s hard to open windows overnight as you’ll just hear traffic, honking horns, smashing glass etc. This was partly through being in a small area high per up (heat rises) but due to sleeping with the fridge (oddly packs out more heat than cooker). I feel the cold too so rarely complain of being hot.

    Also in some of them (about 50%) the switching on/off of the fridge on a thermostat was disturbing. I am a good sleeper but the change of noise was enough to alert me (don’t know if women who listen out for babies are more prone to this).

    Make sure you try it first, but as a good sleeper who feels the cold, I would not do it.
    We were much more comfortable with seperate sleeping accomodation.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    Buying an over-priced studio just now is madness, just imagine if JC won the election!
  • elliotwave
    elliotwave Posts: 35 Forumite
    Crashy_Time wrote: »
    Buying an over-priced studio just now is madness, just imagine if JC won the election!

    I must agree. It's too risky to buy right now. Wait till the fallout of the election and brexit deal. Both could have an adverse effect on the property market.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    elliotwave wrote: »
    I must agree. It's too risky to buy right now. Wait till the fallout of the election and brexit deal. Both could have an adverse effect on the property market.

    Farage has just stirred the volatility pot further this morning.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    https://www.rightmove.co.uk/property-for-sale/property-72073663.html

    100k price cut so far, still laughably overpriced though?
  • vacheron
    vacheron Posts: 2,204 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Crashy_Time wrote: »
    https://www.rightmove.co.uk/property-for-sale/property-72073663.html

    100k price cut so far, still laughably overpriced though?

    I can't see the problem? Who wouldn't want to spend three quarters of a million pounds to occupy a 60m2 irregular pentagon that you can't see out of unless you stand on tiptoes!
    • The rich buy assets.
    • The poor only have expenses.
    • The middle class buy liabilities they think are assets.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    Laughable isn`t it. Not funny if you bought recently and are trying to get rid though.
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