First time buyer: one bedroom in London

bouicca21

Deptford is definitely on the up, so you will find a lot of young professionals in those new developments.  Transport links are good, and it’s so near to central London that you could cycle to work (there is a good and very safe route along Quietway 1). Not sure where you would store a bike though.  Broadway Fields is a really nice little park, and of course Greenwich is nearby.

With a concierge pool and gym, the predicted service charge seems low to me, but maybe that’s a reflection of the small size of the flat.  I’d be wanting to see the lease and accounts just to be sure.  

The drawback is being so close to a very busy road.  Try to view the place at a busy time of day to see how the noise carries.

redefinr

bouicca21 said:

Deptford is definitely on the up, so you will find a lot of young professionals in those new developments.  Transport links are good, and it’s so near to central London that you could cycle to work (there is a good and very safe route along Quietway 1). Not sure where you would store a bike though.  Broadway Fields is a really nice little park, and of course Greenwich is nearby.

With a concierge pool and gym, the predicted service charge seems low to me, but maybe that’s a reflection of the small size of the flat.  I’d be wanting to see the lease and accounts just to be sure.  

The drawback is being so close to a very busy road.  Try to view the place at a busy time of day to see how the noise carries.

Thanks for the insight, very helpful. Yeah the size it's not great actually - I thought it was 45 sqm but it's only 34!
This one around the corner too:

https://www.rightmove.co.uk/property-for-sale/property-68273337.html

The only down point is ground level, not a huge fan but I can close an eye.

numbercruncher8

That's a good find, if the service charge is definitely like that.
It's been on since February with no takers so perhaps some scope to go lower. Unlike the last place (which had a large cut which attracted several people to the new price).

TBH the transport links from Deptford are not as good as the other places. The DLR is of limited use unless you want the stops along it, or Canary Wharf or Bank. Deptford is one stop from London Bridge, but it would take some time to get to Hammersmith/Shepherds Bush or those areas. But that's the compromise for the price.

I think Deptford might be a place where supply exceeds demand, for about 10% more you might be able to get a 1-bed in a similar ex-new build which might be more sellable later on.

davidmcn

redefinr said:

bouicca21 said:

Deptford is definitely on the up, so you will find a lot of young professionals in those new developments.  Transport links are good, and it’s so near to central London that you could cycle to work (there is a good and very safe route along Quietway 1). Not sure where you would store a bike though.  Broadway Fields is a really nice little park, and of course Greenwich is nearby.

With a concierge pool and gym, the predicted service charge seems low to me, but maybe that’s a reflection of the small size of the flat.  I’d be wanting to see the lease and accounts just to be sure.  

The drawback is being so close to a very busy road.  Try to view the place at a busy time of day to see how the noise carries.

Thanks for the insight, very helpful. Yeah the size it's not great actually - I thought it was 45 sqm but it's only 34!
This one around the corner too:

https://www.rightmove.co.uk/property-for-sale/property-68273337.html

The only down point is ground level, not a huge fan but I can close an eye.

"Tinderbox House"?! Interesting marketing choice there....

jimbog

redefinr said:

bouicca21 said:

Deptford is definitely on the up, so you will find a lot of young professionals in those new developments.  Transport links are good, and it’s so near to central London that you could cycle to work (there is a good and very safe route along Quietway 1). Not sure where you would store a bike though.  Broadway Fields is a really nice little park, and of course Greenwich is nearby.

With a concierge pool and gym, the predicted service charge seems low to me, but maybe that’s a reflection of the small size of the flat.  I’d be wanting to see the lease and accounts just to be sure.  

The drawback is being so close to a very busy road.  Try to view the place at a busy time of day to see how the noise carries.

Thanks for the insight, very helpful. Yeah the size it's not great actually - I thought it was 45 sqm but it's only 34!
This one around the corner too:

https://www.rightmove.co.uk/property-for-sale/property-68273337.html

The only down point is ground level, not a huge fan but I can close an eye.

Looks like the bedroom and bathroom have no windows. It seems a bit gloomy

Crashy_Time

The flats in the links are dreadful value for debt, at least buy something that will sell at a reasonable price later on? There is massive oversupply of these boxes in London.

redefinr

This was a good property to see today, I may put an offer on it:
https://www.rightmove.co.uk/property-for-sale/property-68280933.html
Nicely in front of the DLR, few amenities very nearby..and some green downstairs too. The building is pretty new, tip top conditions inside. The apartment as well, really good conditions everything looked ace. I wish it had a few more space but I can live with 34 sqm.. Lot of traffic outside but the flat held the noise well (also, 5th floor).
Bills are a bit high (SC: £1290pa / GR £300pa) but considering there is a 24h concierge, gym and swimming pool in the building I guess it's alright. I have to watch another property in the area, but good vibes overall. Deptford actually didn't seem too bad and only 20min to Bank.

jimbog

It looks nice! Keep it on the back burner for a while and look around the area at others

hazyjo

I'd definitely consider Deptford. It's not great, but a bit like New Cross where it has some lovely areas around it, and it's a bit more 'arty'. Been out in Deptford before and also didn't mind it.

Just be careful you'll be paying for something very small that you can't add any value to. Especially a studio which, tbh, I'd never buy.

I like that it has an SE10 postcode which is Greenwich rather than SE8 which is Deptford.

But then that leads me to look at others listed under Greenwich. What about this near the one you like?

https://www.rightmove.co.uk/property-for-sale/property-83098496.html

bouicca21

But then that leads me to look at others listed under Greenwich. What about this near the one you like?

https://www.rightmove.co.uk/property-for-sale/property-83098496.html

I like that one a lot better  - I’m not keen on studios either.  Also would expect the service charge to be a lot lower.  In my world that’s definitely walkable to Greenwich, and it’s still handy for Quietway 1 if you decide to cycle (which would take about the same time as public transport, if not a bit quicker if you factor in waiting times).