First time buyer: one bedroom in London

csgohan4

elsimsy wrote: »

What part of the South East???

Here

redefinr wrote: »

Sorry I meant “I remortgage”
Also, that flat is on the second floor, not really on top of a restaurant (Again, the restaurant is actually next door).

I was checking Islington a while back and the standards were actually quite worse than what I found in west London. 300k up north you can get a studio - and that’s about it.

And as much as we can imagine kitchen going on fire or watching videos of nearby properties with roof falling down....well, sometime things can happen...anywhere. I don’t think just because a few block away a roof collapsed it means the whole builds around are a mess... I think the price of those last 2 properties I mentioned reflects the actual value and market.

Plenty in Manchester up north with 300k

Here

redefinr

Sorry I meant North London. I’m looking at London only.

novelty-socks

It astounds me that 2 rooms and a shower above a restaurant goes for £300k.

I guess there are just still enough people who want to live in London who see value at that kind of price. I bought a two-bed place for what some friends would call crazy money, but then I can’t imagine living anywhere else in the UK.

I guess I’ve compromised on everything else for location. Works for me!

davidmcn

redefinr wrote: »

that flat is on the second floor, not really on top of a restaurant (Again, the restaurant is actually next door).

Probably won't make much difference, surveyors (and buyers) will still regard it as being uncomfortably close to noise/smells.

JohnDorian

I lived the first 30 years of my life in the Acton and Ealing area so am very familiar with the road you are looking on. I don't get most of the responses on this thread. E.g., the Ashford house. That isn't in West London or within a tube ride of the West End. That is a long way out. The commercial property? As far as I can see, the flat isn't on top of it?

Your main problem is mortgage. If that is sorted, then take a look at the flat Jim posted. While the one you link to is not bad at all, and IMHO a very good location for getting about into the City as well as enjoying West London, the building he linked to is a better option.

StumpyPumpy

Just to add to the complexities here... do you have other rights of residence in the UK other than being an EU citizen eg settled or pre-settled status? Because Brexit could make things very difficult for you if you don't; and even if you do everything could change in a no-deal Brexit with a new PM and cabinet team.

I for one would not be looking to invest a large amount of money for a property in a country where I might not have rights of residence in a few months time. I may be a bit pessimistic but in your position I'd be sticking to renting until Brexit is finalised (or cancelled) and I'd probably have my money in Euros and my suitcases half packed too.

SP

redefinr

Thanks JohnDorian, Shepherd Bush is a great location in my opinion, with Westfield few minutes away, a bunch of great Underground lines and also the development in the television centre in White City is something to keep in mind.

Then if we want to add to the complexities even Brexit.... ��

redefinr

Also, one of the estate agents recommended me to have a look at this financial advisor which seems to have options for self-employed people, it's called Capricorn Financial Consultancy, I may give them a call on Monday...

Rosieandjim

As you seem to be intent on buying the flat you listed please be careful of damp issues. It looks like they have painted the walls white to try and disguise the water ingress from the roof.


I cannot make out from what you have said if the roof has now been repaired or waiting to be?


I also prefer the purpose built flat that was linked to.

jimbog

So this is scarily where the real world and virtual world meet.

I was in Hammersmith Grove this afternoon visiting family and strolled over to look at the flat. Even if it isn't above a restaurant at the moment it is only a matter of time before it is - all the neighbouring ones on the ground floor shops virtually are. Also if it is the top floor flat remember that these buildings were never built with another floor on the roof - what is the insulation like? What about building regulations? - it's basically a loft conversion with a flat roof. It will be quite a hike to climb up it every day.

I took a walk around the back - it was grubby and dirty out there and cluttered. There were some unsavoury characters loitering around there too. With all the neighbouring extractor fans at full pelt it can only be deafening.

So, I wouldn't choose to buy it. There are just so many in W12 that it i just a matter of time before a better one comes up. You have to think of resell value.

Also, going to the agent's recommended financial adviser is unwise (they seem to have a lot of single reviews on Google)