London first time buyer - which areas to look at and house v flat?

bouicca21

EssexHebridean said:

If you are comparing with prices in many places outside London, then everywhere will seem overpriced - because in truth it is, but you are paying a premium for the convenience of the location as much as anything.  Only you can decide if that convenience is worth the extra hough! 

Personally if you want somewhere that has the feeling of being London, I’d avoid the bits of Kent that like to pretend they are (“London borough” of Bromley…my a***!) as it always feels to me that while they want to be London for the property prices, they also want to be Kent when it suits them!  

Woolwich is changing rapidly now the Elizabeth line is there - personally I’ve always rather liked it, I used to work directly across the river at North Woolwich and occasionally hopped across on the ferry at lunchtimes just for a wander (plus the ferry itself is rather fun as a foot passenger!)

This^^^.  Already said I hate Bromley itself.  The bits of the Borough that are in Kent are for people who don’t want to live in London, plus the pseudo Kent areas like Biggin Hill have terrible transport links.  

I have fond memories of taking my small children on the Woolwich ferry as an ´adventure’ but sadly the new ferries are not as much fun as the old ones.  The developments on the old Arsenal site have a lot going for them and the area is very lively but I don’t think there are many houses.

How about Catford? £700k would get you a house there. Two train lines, one to Blackfriars, one to Charing X, plus incredible number of bus routes converge on the main shopping street.  

arthurdick

I used to love going on that old ferry for a couple of hours now and then in the school holidays, used to love the smell of the old rope, just loved it all.

As for Bromley, I have never liked it, nor Welling, there is no nice vibes to those places and no London feeling at all.  Woolwich has more of a lively vibe even Plumstead has a better feeling than Bromley.

Charlton has some Lovely houses and flats and the area does not feel too bad, Greenwich and Blackheath are very nice but pricey, Lewisham and Deptford have a much better buzz to the areas.

arthurdick

I was looking once at buying a flat in Pimlico, very central only 8 mins walk to Victoria station and  a lovely little village feel to it, which seems strange being how central it is.  Battersea has some nice parts.  I do not think you would get a house in those areas but there are some very nice flats, what is more important, the central London vibe or a house a bit further out, I know which I would(did) go for, I had 5 Freehold houses over the years, but they were too far out, I did not like it at all, being  born and brought up in  London, I missed London too much, it took me 27 years to get back home, had to wait until the kids left home and went their own ways., the houses I had were lovely, but I was not happy, so bought a Little flat in SE3, even though it is tiny, I feel so much happier, plus we get all our free travel, so anytime we want to pop up town, just hop on a train and we are in London Bridge in around 12 mins, so, I am asking, what would make you happier?

I use "I" for how I feel and "we" for me and the missus, she did not have that longing to come back as much as me.

Murphybear

arthurdick said:

i was looking once at buying a flat in Pimlico, very central only 8 mins walk to Victoria station and  a lovely little village feel to it, which seems strange being how central it is.  Battersea has some nice parts.

Don’t you mean “Ba -tur-sea-ah” .  I worked there for a while.  Near Clapham Junction.  CJ station is brilliant for train links.  

arthurdick

Murphybear said:

arthurdick said:

i was looking once at buying a flat in Pimlico, very central only 8 mins walk to Victoria station and  a lovely little village feel to it, which seems strange being how central it is.  Battersea has some nice parts.

Don’t you mean “Ba -tur-sea-ah” .  I worked there for a while.  Near Clapham Junction.  CJ station is brilliant for train links.  

Ha ha exactly.

MysteryMe

Area around Shadwell E1 possibly? You can get a 2 bed house for £700k DLR to Tower Hill and then cross the road to the tube station on the circle line to Victoria.  Been gentrified a fair bit being adjacent to early adopter Wapping. 

thegreenone

WagathaChristie said:

I’m just so worried about missing the boat, so to speak, with being priced out of the housing market. Also, my parents, who are very kindly providing the deposit for a house for me, are quite elderly now (late 70s) and I feel under pressure to buy somewhere soon because of their age and the 7-year IHT rule. 

In your original post you said you had an inheritance of £500k+ but now you are saying your parents are giving you the money.  Have you (and your parents) got a complete paper trail sorted?

Late 70s is not elderly unless they have serious health issues.  My Mum died at 90, FiL died at 92; MiL is still going strong at 92; Uncle is 95 at home with carers and I attend a dance class with a lady who will be 82 early next year.

WagathaChristie

thegreenone said:

WagathaChristie said:

I’m just so worried about missing the boat, so to speak, with being priced out of the housing market. Also, my parents, who are very kindly providing the deposit for a house for me, are quite elderly now (late 70s) and I feel under pressure to buy somewhere soon because of their age and the 7-year IHT rule. 

In your original post you said you had an inheritance of £500k+ but now you are saying your parents are giving you the money.  Have you (and your parents) got a complete paper trail sorted?

Late 70s is not elderly unless they have serious health issues.  My Mum died at 90, FiL died at 92; MiL is still going strong at 92; Uncle is 95 at home with carers and I attend a dance class with a lady who will be 82 early next year.

Hi @thegreenone, yes we have got a paper trail all done. 

WagathaChristie

Hi all, thanks very much for your thoughts. I came back on here after thinking about what my priorities 
are re buying somewhere, and think they are: 

- 2-bed/3-bed house with potential to extend (would prefer not to buy a flat, due to leasehold costs and restrictions etc)  
- £650k max budget 
- Work in Westminster/St James Park and likely to stay here for foreseeable future
- Keen to find a house with 45-50 mins max commute and in an area with green space and a nice friendly vibe and cafe culture

In terms of areas I’ve looked at, mainly Streatham and Hanwell, but can’t afford them now. Also considered South Woodford, but can’t afford it, and definitely can’t afford Acton, where I currently live. 

In terms of areas I’m considering: Bounds Green, Abbey Wood/Woolwich, Alperton/Wembley, Barking/Upminster. What do you think of these areas, and are there any others I should consider? Ideally, I’d like a small freehold house I can extend in an area that’s showing potential, with good transport links, and that’s okay to live in. Any other areas I should focus on? Would really prefer to stay in London rather than moving out, as I think moving out would be quite isolating for me and I don’t think I could afford the commuting costs.

Haven’t seen much on the market recently, but I am hoping more will come onto the market in the new year. Thanks! 

thegreenone

What about Colliers Wood?  Northern Line to Embankment, then change or walk.

The daughter of a friend bought a house there last year and loves it.  Apparently, the old factories (where my step-dad worked) have been turned into lovely shops, restaurants, cafes etc.  My friend and her husband are going there for Christmas but staying in the Premier Inn for £50 for Christmas Day night!  Bargain.