Commutable Towns and Cities close to London

MysteryMe

A lot depends on the type of work someone does.  Current times have demonstrated that many businesses are able to function with large numbers of the workforce working from home. If the OP or anyone is in a position where they can work from home 2/3 times a week then living further away can be a viable option. Instead of having to buy a ST they can buy day tickets, which if you buy for specified trains or start journey after say 9am can work out reasonable especially when the trade off is not wasting time commuting every day.  I would also suggest that research is not just based on how far somewhere is but the service offered. Somewhere 30 miles from where you work on a line that has many stops may well take longer than an intercity service 60 miles away which stops once or twice. The latter is going to cost more but then you weigh up factors such as cost of housing etc.

GDB2222

numbercruncher8 said:

Consecca said:

You mean Leytonstone is another rough no go area to live?

No, I probably wouldn't say this. It has its good areas and less good areas. At your budget you won't be in the nicer areas (bordering Wanstead/Snaresbrook). The safety bit applies to most places in London tbf. I spent a lot of time in Shepherds Bush/Ravenscourt Park areas which are highly regarded, but I would not be so keen on my partner walking 0.5miles down Uxbridge/Goldhawk Road after midnight. Maybe I'm super-cautious, it doesn't make the area a no-go.

Anyway as we can see, living in London is a direct trade-off between convenience and transport cost to property quality. For the same money (or less) you will get an extra bedroom, a better property, in an area which is less densely populated and generally less crime. You probably know deep down whether you want to make this trade or not. But literally millions of people live in the less salubrious suburbs, there is nothing wrong with it.

If you have no family and friend ties, and are open to moving anywhere which is commutable, perhaps Tunbridge Wells might be of interest: https://www.rightmove.co.uk/property-for-sale/property-77251864.html, I am sure this may be £200k or less in the summer (previous sales were £209/210k in December 2019). That strikes a balance between commutability and pleasant surroundings. 

One of the problems is that season ticket costs are high. If your salary is commensurate with your mortgage, it would be a significant outgoing per month, particularly if you plan on socialising in London. And you will be at the mercy of train fare rises every year, both train and tube.

High possibility that at your age this won't be your last place, if it were me on that salary I'd be trying to squeeze into London because of the travelling costs and in my view may offer more appreciation. You may have to wait for more price drops. Looking at the Tunbridge Wells flat, the new build price was apprx £175k in 2009, assuming this goes under £200k that is rather anaemic growth over a decade (around 1% compounded). 

By contrast flats quite dissimilar to that were around £200k-225k in the outer London zones in 2009, and they have appreciated massively. If there is to be house price volatility I believe London will have sharp hits but also a sharp recovery.

That's a nice enough flat in Tunbridge Wells. People keep saying that you pay a premium for new build, which you lose when it's secondhand. It's quite interesting to see that in practice. They also say that new flats tend to have small rooms, and the owners of that flat have turned the smaller bedroom into a dressing room for the main bedroom. There isn't much room in there for a bed without ripping out the built in wardrobes.

I like Tunbridge Wells. I have friends who live there, and they seem to have a very pleasant life. 

As an alternative for another rather genteel place to live, I suggest that the OP looks at Welwyn Garden City. I was surprised to find some nice flats in the area within his price range.

Crashy_Time

Poster_586329 said:

blue_max_3 said:

When you've found some, come back with the possibilities. I've got more than twice that and am limited.
Eg https://www.rightmove.co.uk/property-for-sale/property-79111330.html

Here's one for £180k in Leytonstone.     Looks like a converted beer cellar!  I think it would be depressing, but at least there's a large park nearby:

https://www.rightmove.co.uk/property-for-sale/property-88346573.html

Down from 192k.

[Deleted User]

This looks a steal for the area (Dalston).   Don't be put off by the photos, the floor plan looks workeable:

https://www.rightmove.co.uk/property-for-sale/property-92048573.html

Windofchange

Poster_586329 said:

This looks a steal for the area (Dalston).   Don't be put off by the photos, the floor plan looks workeable:

https://www.rightmove.co.uk/property-for-sale/property-92048573.html

It’s for sale by auction though. It’ll likely go for a lot more. 

[Deleted User]

Windofchange said:

Poster_586329 said:

This looks a steal for the area (Dalston).   Don't be put off by the photos, the floor plan looks workeable:

https://www.rightmove.co.uk/property-for-sale/property-92048573.html

It’s for sale by auction though. It’ll likely go for a lot more. 

Yes, looks like it's closer to £300k for even a crappy 1-bed in Dalston.   And OP is after 2....

blue_max_3

Poster_586329 said:

This looks a steal for the area (Dalston).   Don't be put off by the photos, the floor plan looks workeable:

https://www.rightmove.co.uk/property-for-sale/property-92048573.html

New 125 year Lease at an initial ground Rent of £250 per annum. If that's an escalating ground rent, it might be tricky to get a mortgage on. And an auction, which is a shame.