First time buyer: one bedroom in London

StumpyPumpy

jimbog wrote: »

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.

Probably just other MSE'ers taking a nosey at the same time as you. :rotfl:


SP

Larac

I live in South Bedfordshire - fast train in to Euston 35 mins. You could buy 2/3 bedroom house for your budget in this area. Each to their own but maybe widen your horizons on what may be better valued at a reasonable commuting distance.

Crashy_Time

300k for a loft conversion in London, Oh Dear.

hazyjo

Crashy_Time wrote: »

300k for a loft conversion in London, Oh Dear.

Only 50-60 (ish) one bed flats for sale in the whole of West London up to £300k. You might not like it, but that doesn't mean it's not happening. Perhaps the 'oh dear' is at yourself for selling up many moons ago...? Or are you still saying it's because they're all going to lose pots of money when the prices crash or the rates go up? Remind me, how many years have you been predicting that now? :think:

davidmcn

Crashy_Time wrote: »

300k for a loft conversion in London, Oh Dear.

Not a conversion, if you look at the planning history it's a purpose - built additional storey.

Crashy_Time

hazyjo wrote: »

Only 50-60 (ish) one bed flats for sale in the whole of West London up to £300k. You might not like it, but that doesn't mean it's not happening. Perhaps the 'oh dear' is at yourself for selling up many moons ago...? Or are you still saying it's because they're all going to lose pots of money when the prices crash or the rates go up? Remind me, how many years have you been predicting that now? :think:

So you think the OP will make money on this one?

Crumble2018

csgohan4 wrote: »

Here

That would be an expensive commute into London.

hazyjo

Crashy_Time wrote: »

So you think the OP will make money on this one?

I've advised not to buy this one. Just saying it's cheap (in this case for a reason). You seemed to imply it was expensive. For other parts of the country, obviously - but not London.


Anyway, sounds like he's looking for a long-term home, not an investment. In which case, anything anyone buys in London is extremely likely to increase (even high risk like this). Short term, no.

Crashy_Time

https://www.insidehousing.co.uk/news/news/large-association-has-400-unsold-homes-amid-massive-market-slowdown-60249

redefinr

@jimbog you definitely found the right flat! I know outside it looks quite miserable. I think i got carried away by the interiors (which I really like) but it does seem to be a risk purchase with the roof. As I mentioned, the EA told me the roof was replaced a few years ago but then how come there are spots on the ceiling again! So it's out of my interest...

But I really really liked this one:

https://www.rightmove.co.uk/property-for-sale/property-62665824.html

The building is quite new and the flat was in really good conditions...I think is the best conditions I've seen in a while...so I'm really thinking about this one. Service charge is £1900 pa, ground rent £200 pa....and is currently renting for £1250/month (according to the EA).
The price is high, my offer would be £290.... I don't know if it's unreasonably low but I can't go any further.

It's a nice 385sq ft, I just wish it had a separate bedroom rather than studio flat.