House buying dilemma - criticize my thinking please.

ACCA

MysteryMe said:

Just seems so odd that with all this research you've done you've not listed a single location in East Herts or Essex which are the locations which along with Cannon Street are most convenient for Bank going into Fenchurch Street and Liverpool Street.

Probably a miss of mine, the places I shortlisted - I have colleagues or friends living in, that's why. What areas do you think worth having a look at? 

hazyjo

Leigh-on-Sea.

https://www.c2c-online.co.uk/destinations-offers/destination-guides/leigh-on-sea/

https://www.essexlive.news/news/essex-news/leigh-sea-seaside-town-become-3366679

https://www.google.co.uk/amp/s/amp.theguardian.com/money/2016/may/20/lets-move-to-leigh-on-sea

Also a piece in The Times in the last week or two if you have access.

Tiglet2

hazyjo said:

For anyone thinking of moving out and commuting, I find it's the bits either side that make it unbearable.

A 10 min walk to a station (in my case, with this beautiful view every day), a 45 ish min train journey where I often watch something on Netflix/Prime, and a 5 min walk the other way end is perfect. I'd rather that than stand for 30 mins on a tube. I most certainly wouldn't want a bus journey or a drive to a station, and a tube journey or 20+ minute walk the other end (and the same in reverse coming home) 

Know Leigh-on-Sea quite well - lovely views

hazyjo

Tiglet2 said:

Know Leigh-on-Sea quite well - it's where I met my other half - Sara's Tea Rooms!

Lovely place, great cake! Lots of shops and restaurants on The Broadway too.

Tiglet2

I just looked on Rightmove for houses between £425k and £475k within a radius of 20 miles from Fenchurch Street and it has brought up 308 properties for sale in the last 14 days.  I haven't filtered them by how near they are to a station or a 'nice' area, but there must be something out there that fits your needs OP?

steve866

You could do a longer mortgage (e.g 38 years based on a retirement age of 75) which will reduce the monthly payments by a couple of hundred a month. You will pay more interest overall, but you could always overpay or go into a shorter term if and when your incomes increase. Have you considered a ground floor garden flat closer to London?

hazyjo

Tiglet2 said:

I just looked on Rightmove for houses between £425k and £475k within a radius of 20 miles from Fenchurch Street and it has brought up 308 properties for sale in the last 14 days.  I haven't filtered them by how near they are to a station or a 'nice' area, but there must be something out there that fits your needs OP?

Maybe add Hornchurch into the mix.

There are some pretty awful areas within 20 miles of Fen St. It's not really about the distance, it's about the commute. It may actually take well over an hour on tubes/trams/ buses from W or S London! 

MysteryMe

ACCA said:

MysteryMe said:

Just seems so odd that with all this research you've done you've not listed a single location in East Herts or Essex which are the locations which along with Cannon Street are most convenient for Bank going into Fenchurch Street and Liverpool Street.

Probably a miss of mine, the places I shortlisted - I have colleagues or friends living in, that's why. What areas do you think worth having a look at? 

Leigh's been covered and Benfleet already mentioned but you could look along the C2C line to Westcliffe and on the Greater Anglia line Rochford, Hockley, Rayleigh, Billericay. You either have the seaside or green open space and country parks close by.  They may be out your price range though and GA may have higher fares. Good train service from Chelmsford, only 30 mins into Liverpool St and you could find somewhere in your price point but an annual ST is £4500 however no need for tube other end.  I don't live in any of the areas mentioned but know them. Some of the best secondary schools in the country are located in Southend and Chelmsford. Not so nice areas in both. but applies to any sizable town including several on your short list.  

SallyCinnamon

I saw Redhill on your list - I live here and love it. The Thameslink goes into London Bridge and Farringdon as well as other stations and it's a reasonably quick journey (38/40 mins ish I think - I tend to travel more on Southern to Victoria). Primary schools are generally very good, as are the secondary schools. House prices do vary, but £460k should get 3 beds and a garden easily enough, depending on whereabouts you go and what you are after. I would definitely recommend keeping it on your list 

yllop1101

Hey Op, just a heads up as I'm not sure you have considered it. The more your commuting costs go up, the less you will be able to borrow on a mortgage as it will affect your affordability.