FTB: how much should be budget upper limit?

G3ralt

Anamox said:

You're fortunate to have such a budget and I'm sure you'll find a great place to live, and there is good advice on your post already on some considerations.

Regarding locations, have you thought of towns north of London? You may get even more for your money and find the commute is even less. Milton Keynes for example tends to offer huge, high specification properties in your price range and is a town famous for its green space and the fastest trains into London Euston are 28 minutes.

Thanks for the tips. We haven't checked Milton Keynes yet but seems like we should. 

Silvertabby

Don't automatically rule out 4 bedrooms, even if you don't need them yet (and can afford the mortgage if your circumstances change).  Modern houses (1990s onwards) can be on the small side, so more bedrooms = more living space downstairs.

There's always only been the two of us, but we bought a 4 bedroom as our forever home, primarily because it gave us the downstairs space we wanted.  Now we have our master suite, guest bedroom, hobby room and study - so we're not rattling around in unused, empty rooms! 

hazyjo

Much prefer Leigh-on-Sea to Rayleigh or Colchester. Not sure I'd touch the latter with your budget, I'd have to need something 'affordable' to buy there. Not the worst place in the world, but not where I'd spend that sort of money.

C2C line from Leigh is significantly cheaper than GA from Rayleigh and apparently nicer and more reliable.

Emmia

I used to commute from Reading into London daily, and honestly moving into London and saving myself 3hrs a day sat on a train has been amazing - yes we could have got a bigger property outside of London, but I can walk to work and enjoy everything London has to offer - and I don't spend 4k a year on train travel (although that money essentially goes on the mortgage instead).

The advice to work out how much you want to spend on a mortgage payment is a good one, we bought well within the limit the bank would offer, but it means we have the money available to travel, eat out etc.

G3ralt

hazyjo said:

Much prefer Leigh-on-Sea to Rayleigh or Colchester. Not sure I'd touch the latter with your budget, I'd have to need something 'affordable' to buy there. Not the worst place in the world, but not where I'd spend that sort of money.

C2C line from Leigh is significantly cheaper than GA from Rayleigh and apparently nicer and more reliable.

That's an interesting view on Colchester. What are your thoughts on Wickford/Billericay? I know its on GA route but otherwise?

hazyjo

Don't know enough about Wickford other than its not so desirable and near Basildon. Could be wrong, but that's the general impression I get.

Billericay is fine. Not somewhere I'd really want to live, but it's pleasant enough.

I lived in Brentwood and wasn't so keen, but Shenfield is also maybe one to consider.