Buying in London - what would you do?

beaming

MandyMcG said:

I have a 2 bed flat in the Falcons, next to Clapham Junction station. The prices there are steadily ticking back up to pre-pandemic highs. You could get a decent 2 bed - 2 bath for £400ish, which could easily be worth north of £550k by the end of 2025 if you follow the 18 year property cycle.

The beauty of the Falcons is that it is directly opposite Clapham Junction station, and has its own onsite residents gym and pool as well as secure parking. 

Great rental yields too

That flat is a pretty fantastic find, I called up the estate agent. 
Not suitable for me unfortunately but potentially for someone else - investors. 
Has been on the market since February. Tenants in-situ and some issues with getting viewings but might still be right for someone here 

MandyMcG

Another similar flat on the market with the same EA here:
https://www.rightmove.co.uk/properties/91142455

lisyloo

beaming said:

I appreciate the comments and opinions - thank you.
I'll expand my search and have a look at some of the areas mentioned. Money seems to go much further with property sizes a bit more South. 
Whilst I could find a house on the outskirts, I think I'll be going for a flat more centrally (out to zone 4) to be able to afford a 2 bed. 
In regards to comments about the 2nd room, I enjoy hosting. I know one can always be generous and hospitable, no matter how small the space, but I think generally it’s much more comfortable for guests when there’s a spare room (and I’d be willing to go further out to afford that) 
On I go with rightmoves 

We had friends up lots of times in our 1 bed.
We had an airbed and they all said it was comfortable and I don't think they were just being polite as several of them were keen to come back.
Just saying.................it's what you make it

hazyjo

Would prob be cheaper to pay for a travelodge for guests if you feel that inclined to offer them accommodation. Great to have a spare room, but it's going to mean you struggle massively to find somewhere in a half decent area that centrally. I'm not a fan of one beds, but with your budget that centrally, I'd definitely go down pictures route. Blow up bed or sofa bed for occasional visitors.

Good luck!

Crashy_Time

MandyMcG said:

Another similar flat on the market with the same EA here:
https://www.rightmove.co.uk/properties/91142455

Horrendous, looks like a public library.

Crashy_Time

https://www.rightmove.co.uk/properties/73029480#/?channel=RES_BUY

50k price cut so far, more needed?

Crashy_Time

https://www.rightmove.co.uk/properties/76247379#/?channel=RES_BUY

110k price cut so far, and loads of 25, 50 and 100k price reductions on PropertyLog, what on earth are people thinking when they first list these things?

MandyMcG

beaming said:

Hello all

I’m trying to work out the smart decision. I feel like I’ve done a fair bit of research but still haven't decided on a strategy. 

With a mortgage, I have a budget of around £425k. 

I'm hoping to buy in London and plan to keep the property for a long time (10years+). Whilst I’ll start by living there, I’d be open to renting it out later. 

I’m more familiar with North London and ideally would be keen for North of the river. 

For long term investing, what would you recommend? 

Some things I’ve been looking for: 

- at least 2 bedrooms 

- bath (not just a shower)

- avoiding ground floor flats 
- lease at least 80years + 
- less than 15 mins walk to nearest station 
I’m finding it hard to decide whether to buy a house in the suburbs or to buy as centrally as possible (and probably then a lot smaller) for my first property. 
I've also been reading the thread about EPC so am thinking to add EPC rated C and above to my list. 

Any up&coming areas you’d recommend looking at or any other things to seriously consider (eg. don't bother with a lease and just get a freehold)

Thanks for reading

Three bed ex-local authority maisonette in the Clapham Junction area at £425k:
 https://www.rightmove.co.uk/properties/116104913

Crashy_Time

The price cuts are coming thick and fast now for those postcodes, I don`t think you should be in any rush OP.