Where to live on 3m

[ItsPissingDownAgain]

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)

[Davros]

Just about Belsize Park NW3

[Davros]

But only faith state primary schools

[HollowTalk]

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

[Labobo]

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

[Same4Walls]

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]

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]

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

[Enidblyton1]

Admittedly, my suggestion might not tick the diversity box

[BarbaraofSeville]

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]

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

[SleepingStandingUp]

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]

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

[emmy239]

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]

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]

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

[Crankley]

How about Ham near Richmond: www.rightmove.co.uk/property-for-sale/find.html?searchType=SALE&locationIdentifier=REGION%5E11730&insId=1&radius=0.0&minPrice=&maxPrice=&minBedrooms=&maxBedrooms=&displayPropertyType=&maxDaysSinceAdded=&_includeSSTC=on&sortByPriceDescending=&primaryDisplayPropertyType=&secondaryDisplayPropertyType=&oldDisplayPropertyType=&oldPrimaryDisplayPropertyType=&newHome=&auction=false

[waltzingparrot]

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

[Enidblyton1]

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

[3WildOnes]

I would live in Notting Hill.

[3WildOnes]

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

[emmy239]

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]

My sugesstions:

www.rightmove.co.uk/properties/77960745#/

www.rightmove.co.uk/properties/102114395#/

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

[fabulousathome]

Islington? Hampstead?

[Redtartanshoes]

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

www.rightmove.co.uk/properties/77672955#/

[Davros]

Assuming this is real - buy a house for £1m and invest the £2m, living off the interest.
What interest? There's very little of it around at the moment. Property is a better bet but this particular scenario seems a tad unbalanced