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)

Op I agree I'd spend maybe £1.5 on somewhere I was happy to move straight into/didn't have to do anything to, then maybe buy a bargain holiday home, put away £150,000 for rates etc, and for someone local to maintain the holiday home, which I'd list it on air b+b or similar when not using it.

Something like this (in the sunniest part of the UK?) for £400.
www.rightmove.co.uk/properties/73702566#/

Then I'd put about £800,00 away in savings, to pay for upkeep including a cleaner, repairs etc on my main residence, and enjoy spending the remaining £150,000 on random stuff, over several years. A new car, a yearly visit to my holiday home (where I'd stay a few weeks/a month), and which friends and family could use.

Unless as pp's have guessed, you actually have £5+ million and have already thought about rates, council tax, repairs etc.

*£1.5m
*£400,000

Aside from the fact that if your total 'new money' is £3m and you're planning on spending it all on a house that's a little bit bonkers. I'd look at spending 1.5 of it in Stoke Newington or Dulwich around the park.

The more I look at the thread title in my TIO, the more I think “hmm”.

@GoodQueenAlysanne

"Just as pure tangent@GoodQueenAlysannewhat would the reception be like be for Londoners moving to (small town or rural) NI? Would it be tricky?"

I think the biggest culture shock for that property, would be being living in the country in general, instead of "town" life, as opposed to any bother with neighbours etc.

Something like this closer to the city centre (a 15 minute drive) might be better for a townie.

www.propertypal.com/detached-hampton-house-glenmachan-park-belfast/639177/photo-4

English people are normally accepted and settle okay (in the more affluent areas at least, working class areas can be different, and religion etc will be a much bigger deal).

Thanks for the response (sorry I had to disappear off and do actual work!)

Yes I was wondering whether church attendance would be the big issue. Although in our case I’m English Anglican married to English Catholic, so I don’t know if that would make it better or worse.

@Smallgoon

Marylebone would be nice. Regent's Park on your doorstep, a great high-street, and a relatively sleepy part of town at the weekends!

I lived in Marylebone when it wasn't quite as posh as it is now. Loved living there, easy walk to Regents Park and Hyde Park, 15 minutes to Oxford Street, residents parking permit allowed you to park in quite a large area. Back in our hedonistic child free days we could walk home after most nights out in central London (with a bit of fuel on board..).

I live in quite an arty part of SE London and have been thinking about this thread and wondering where I would spend £3m. It's made me realise that I don't actually want to live in London anymore. Even if I had this £3m I'd rather live somewhere rural near a beach, so thanks for helping me to that realisation OP.

10 years ago I would have leapt at Clerkenwell, the Angel or Marylebone.

I know I'm biased but I get really frustrated with posters saying "but WHY do you want to live in London?". London is a fantastic world city and you can never know it all. There is something different to do every day for 10 years if you choose to. The work and salaries here don't compare to anywhere else in the country. 8 million people and counting can't be wrong.

the works and salaries-op is on 35k hard to live on in london

I'm a Londoner & thinks it's a fantastic city however I'm increasingly tired of the traffic, general congestion & pollution.

Plus it's very expensive & for many people the salaries don't plug the gap.

If you have 3m go for it though.

Have I lost my mind....somebody is thinking of spending 3 milllion pounds on a house and this is a normal conversation?

The only reason we left London six years ago was to avoid the mansion tax. Bought a house 10 miles away that would avoid it. However, It is detached and has a large garden. The running costs of our sub £2m property (probably worth £6/7m in SW London) are rather higher than our £4m semi in zone 2, albeit just in Wandsworth! I can see that if the op bought a modern townhouse in Fulham or Primrose Hill - with no mortgage the running costs would be manageable and the capital value would probably not decrease.

Reasons to live in London:
Theatres
Diversity
Buzz
Jobs
The people
Red buses
Black cabs
Brilliant restaurants from street food to Michelin
The river
Museums
Parks
History
Galleries
Incredible walks
Excellent London teaching hospitals
Cosmopolitan life
Good airports
Fashion
Shops
Busyness
The richness of different lives
Relative anonymity
Roots if you have them
The British library

I loved it with all my heart.

OMG, you make me puke.How do you feel stepping over people on your way back to your millions pound houses?

@randomer

Have I lost my mind....somebody is thinking of spending 3 milllion pounds on a house and this is a normal conversation?

Not an unheard of conversation in London but this version is odd.

“Where to live on 3 million?” - as though it’s a struggle to find somewhere suitable - is a weird as hell way of phrasing it. Not to mention tactless.

Then you read the OP and the additional criteria turn out to be; London, state schools, diversity, central, parks and public transport.

So most of London then?

“Where to live for £150,000?” would feel more like a question you need to put to the hive mind.

@randomer

OMG, you make me puke.How do you feel stepping over people on your way back to your millions pound houses?

You do realise that 3m is prob the average price in certain parts of London....

we looked here before buying where we are, very rarely come to the market
www.rightmove.co.uk/house-prices/n6/holly-lodge-gardens.html

@MrsOnions0 love both your links , although one of those bathrooms would need to be avoided if you had too much to drink !

This is as batshit as cuddling your neighbour.

@PamDemic I absolutely bloody love that one. And what the hell is going on with the kitchen units. Do you know what that square is like? There's a Children’s centre in it I think? Who sing the WRONG version of wind the bobbin up 😡

@lalafafa absolute dream house! And I would never be out of the ponds. DH has vetoed that area, probably for that reason 🙄

I feel like I missed a load of posts during the day, so sorry, thought I was keeping up 😕 will try to catch up this eve

Thanks so much for all your ideas. It's really helpful. I do have trouble getting my thoughts in order especially in lockdown with kids

@ItsPissingDownAgain

OP Can you let us know why you want to spend all the £3million on a house and not spread it more wisely?

You do know all museums are free nowadays?

Just for factual correctness, this ^ isn't true, by a long long way.

But I agree with PennyRoyal , why won't you answer all the people who have asked why you don't spend it more sensibly, or logically ? if it actually exists

RoseSEbuds6 could you shareyour reasons / what's changed? I keep hearing that the boho/creative areas are diminishing, is that true?

I had moved some years back but visit often (in normal times) and from short visits there's no obvious difference - but I tend to go for cultural stuff rather than checking out those specific areas, so wouldnt know really

You do know all museums are free nowadays?
Just for factual correctness, this ^ isn't true, by a long long way

Yes, the big museums are free but specific great exhibitions are expensive, some bordering on extortianate (looking at you, Tate, same goes for the membership). Especially if you want to go twice.

£35,000 for a couple with children living in London is peanuts, can't afford a car and live frugally , OP says.

So what is hard to fathom is spending £3 million on a house. The income will still be the same , no car, living frugally but hey a nice house