What the hell do I do now

kazwookie

Can you work from home at all? if so Hampshire would be great.

With all the strikes atm, you may be better off in London

jonnydeppiwish!

Where in Hampshire are you looking?

MFWannabe

In the words of Kirsty Location Location Location! 

It doesn’t matter what other people say; they’re not the ones with the choice 
Where are you going to have a better quality of life now? In London, close to work and where your friends are? Or in Hampshire with possibly a long commute each day unless you can work from home? 

Out of interest though is this the property that fell through last year? Was the seller the reason? If so how can you be sure it will go through this time? 

Letsgetmoving

If the 1bed flat seller has come chasing you and the market has changed massively in the last year could you renegotiate the price? It might take the sting out of it a bit.

it sounds like you feel the London flat is best for now but other people in your life disagree but they won’t be the ones living it it. 

p00hsticks

You don't mention what sort of work you and your partner do, which makes a big difference.

Is it a job you can only do in London, or are there possibilities for getting a similar job outside ?

If so, a job move may pay a bit less but the savings in travel costs and time could make it financially viable

Or is working from home a possibility for at least some of the time (although this doesn't tend to result in a proprtionate drop in travel expenses, as season tickets become less cost effective, but it saves you time).  

You also say that 'everyone assumes we'll want a baby asap' but don't give any indication if they are correct.

Is that something you and your partner have discussed at all ?

If likely, would you both continue in your jobs or would one or other of you stop working, at least temporarily ?

Having a child would not only makes a great difference to your finances but things like a garden, parking, availability of child care  and (later on) schools will also become higher up on the lsit of priorities when lookign at where you live.

ThisIsWeird

Dilemma indeed.

Some of the pros and cons are smallish, others very big.

Hamp: cons - time and cost of commute - that is a very biggie. Every single day. 'Limited' - ie different - social life - ie it'll mainly be you two. Pros - the outdoor environment, larger space, not being in a big city.

London: cons - um, uh, not such a pretty area. Property costs more - but it always will. You'll need to move again when kiddies appear. Pros - time and cost saving on commute (did I mention that's a biggie?) Social life variety with folk you know and like - that's a biggie.

That's you and your partner's call. But I would suggest - from personal experience - that until the kiddies come along, a good mix of social life - as much or as little as you want - is an important thing; you'll treasure it.

We were lucky to have a house in a wee village outside Guildford before t'kids came along. It wasn't a pubbing/clubbing social life, but an unexpected group of really good folk in that area, and these are very fond memories indeed. When kids came along, we moved to Devon for a better life for them. No regrets either way.

With a good alternative available to you, I'd use that as a lever - tell the EA you were about to move on a bigger flat in a nicer area, but you'd 'consider' the London place with a few provisos, and these will involve the dropping market and the work that needs doing. You can afford to negotiate a bit harder, knowing that you always have the alternative.

NameUnavailable

Why didn't you look for/buy a different flat in London? What made you decide to look in Hampshire if it's miles away from work and friends? I'm just wondering why you decided on a completely different area just because one sale fell through.

theoretica

Purely as an investment - 330k is more investment than 250k - so more exposure whatever the market does.  But extra cost of commuting is not an investment and you will never get that back, so it doesn't £ for £ balance extra mortgage interest.  Why are the two properties valuable?  Would EITHER of them retain their value well if the world significantly changed and commuting to/working in London was much less of a thing?  How desirable are they as properties, rather than starting points to commute to somewhere else?  Would you be prepared/interested in renting the second bedroom out, even part time?

Have you looked at the local air quality data?  That, and local noise, matter a lot to me.

FreeBear

Curiousbuyer123 said: There’s also DPC work that needs doing and the vendor refused to contribute previously.

Who told you that DPC work is required ?

One of these PCA damp proofing surveyors salesmen ?

A damp proof course does not "fail" - You will occasionally get small cracks (depending on the material) which results in thin fingers of damp appearing in wet conditions. But much of the time, damp is caused by elevated ground levels, inappropriate hard paving right up against the wall, or leaking flashing/downpipes. All easily fixed for relatively little money.

As for which property is better (London or Hampshire), that must ultimately be your own decision. Personally, I prefer a more rural town/city well away from big crowds.

bouicca21

Where in London is this flat?  There are 2 beds in my bit of zone 4 for £330k.  I’m south of the River.