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Where to live on 3m

(428 Posts)
ItsPissingDownAgain Wed 03-Mar-21 14:56:52

First world question: where would you live in london on a 3m budget. Low income otherwise (!), kids in state primary, we like diversity, zones 1/2, parks, ease of travel (ideally bike but if not then public transport)

OP’s posts: |
Davros Wed 03-Mar-21 14:59:32

Just about Belsize Park NW3

Davros Wed 03-Mar-21 15:00:00

But only faith state primary schools

HollowTalk Wed 03-Mar-21 15:02:10

Why wouldn't you spend £2m and have more income coming in?

Labobo Wed 03-Mar-21 15:03:07

Baffling question. £3m for a home but low income. Why? Why not buy cheaper and have some money to live well.

Same4Walls Wed 03-Mar-21 15:05:40

How on earth can you have a 3 million pound budget for a house but a low income? Wouldn't you spend less money on the house and have some more disposable income or have I missed something??

Enidblyton1 Wed 03-Mar-21 15:06:42

Seriously....get the hell out of London. If you have low income (inherited wealth?!) you probably don’t need to be in the city for work. Buy an amazing house with grounds for around £2m and send your children to an excellent private school.

fronz Wed 03-Mar-21 15:07:06

Somewhere where I could buy a house for under 2m & enjoy the cash.

Enidblyton1 Wed 03-Mar-21 15:07:30

Admittedly, my suggestion might not tick the diversity box

BarbaraofSeville Wed 03-Mar-21 15:09:35

If your income is low, I agree about not using all your budget as you may struggle to cover the running costs of an expensive property (council tax, heating, maintenance etc).

But I wouldn't live in London either. I'd use about half a million to buy somewhere warm and sunny and live on the other £2.5M.

SleepingStandingUp Wed 03-Mar-21 15:11:14

Well before anyone gets in a tizzy over low income, let's remember this is op and she may mean only 100k each

SleepingStandingUp Wed 03-Mar-21 15:14:41

Where about do you work op or are you living frugally off inheritance etc?

I'd pick somewhere nice by the kids school / work and bank the difference.

InsufferablePerformanceFather Wed 03-Mar-21 15:53:42

If you have a low income you need to seriously consider the running costs of a £3m house.

emmy239 Wed 03-Mar-21 15:58:31

Assuming this is real - buy a house for £1m and invest the £2m, living off the interest.

As PP have said, the running costs of a £3m house would be too much on a low income. Also what would be the point?

optimisticpessimist01 Wed 03-Mar-21 16:01:39

I really think you need financial advice before you spend £3m on a house when you think you are "low income". I agree with PP, £1m house and invest the rest.

SleepingStandingUp Wed 03-Mar-21 16:01:59

(awaits the drip feed of I told DH we couldn't afford the lifestyle on just 150k after tax! We're too poor!)

Crankley Wed 03-Mar-21 16:02:09

How about Ham near Richmond:

waltzingparrot Wed 03-Mar-21 16:03:53

I'd move to the coast and Invest at least 75%. (Misses point entirely)

Enidblyton1 Wed 03-Mar-21 16:04:57

Ham is lovely but...
not diverse and takes forever to get into central London.

3WildOnes Wed 03-Mar-21 16:05:10

I would live in Notting Hill.

3WildOnes Wed 03-Mar-21 16:07:19

I love ham but not diverse, not in Zone 1/2 and not great public transport links.

emmy239 Wed 03-Mar-21 16:11:22

But what would be the point in living in a £3m house somewhere like Notting Hill, if you don't have the disposable income to enjoying all the fab restaurants/lifestyle, and would stick out from your neighbours? Assuming you aren't exaggerating the "low income".

Buy a nice big house somewhere further out and live an easy life off the rest of the money .

emmy239 Wed 03-Mar-21 16:15:23

My sugesstions:

Also I will accept my 10% fee for financial advise now grin

fabulousathome Wed 03-Mar-21 16:35:19

Islington? Hampstead?

Redtartanshoes Wed 03-Mar-21 16:41:16

I’d buy 2 of these, rent one out and use to fund private school/holidays/nice life

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