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)

@ItsPissingDownAgain
How are you going to maintain a 3 m property on 35k a year with London living costs?!
Let alone pay the council tax etc for those areas!

How about Queens Park? www.rightmove.co.uk/properties/89114278#/

@LondonStone I knew which house you would be linking to before I clicked it! I had sort of discounted it as too posh for me but actually i like the layout, I'll save it thanks.

Dh is full time and I'm part time as childcare is expensive and I like being able to pick them up from school and take them to their bloody clubs in the pissing rain.

He also thinks I'm mad wanting to spend it all on a home, but isn't it where you spend most of your life 🤷‍♀️ school holidays are only six weeks a year.

Council tax and bills on that one linked would be about £600 I think. Maybe less.

Spend £1m, invest the rest (not in property), and use the growth to boost your income and savings.
Where is worth investing at the moment and getting growth? I'd genuinely like to know as we have a large sum sitting around doing nothing but there's very low, if not negative, interest rates generally right now

@bonfireheart @lurker101 Such a lovely house if you can live with the idea it’s almost £3,000,000 for a semi-detached!

In my twenties, I used to rent a tiny room one street over for £850 a month (!) but it is such a beautiful part of London.

I honestly don't understand what's going on here. you mention a terrace with a small garden in one post and 35k combined income and wanting to buy a 3m property in your opening post

Me thinks maths not adding up here

De Beauvoir?

[wine glass]

If you like your current house stay there, invest the cash and use it to (a) save for your children's university fees and help for them to buy homes, (b) invest to add to your pension provision, and (c) enjoy life a little bit more now.

And the Most Bonkers Thread of the Day award goes to...

Are you a Joe Bloggs who won the lottery or something?
No way can you afford upkeep on a £3mil house on circa 30k.
Buy a realistic house for yourself and pump the rest into a holiday let, renal or property development. something so you have money coming in on top of your earnings.

ops lol

Council tax on the one posted is over $2500. You seem to have a nice fantasy, but haven't answered any of the questions people have asked- musing about what would be nice is always fun

Ridiculous thread is ridiculous.

Wot?

You would be happy to spend a ridiculous amount of money on a house but live on a low income? Why?

Actually, if you have £3mill cash then maybe you could buy the canonbury place, get a couple of lodgers and rent out the drive.
That'd give you a good income which would help you live, commute, pay for school costs, invest in pensions, give to good causes etc.
But why, why would you not want to spend £2m and use the remainder to give you a more comfortable life and future security?

Baffling.

I'm confused ... this is a weird thread.

www.rightmove.co.uk/properties/95224577#/

I'd move here and invest the rest to pay for things the family needed in the future - school fees/ university/ holidays etc.

If you spend a little / more flex on area a little you might get 4 beds.
This part of town is super handy for biking around.

It seems op has either inherited or won lottery/court case with major payout, maybe a hefty compensation. They might not want to say due to privacy.

I’d say invest 1m tops in a house, invest full fees for private education plus uni for the kids and buy a place to live off the rent, also throw a bunch in a high interest account for a rainy day

I couldn't decide between or for this thread

Buy a giant ramshackle mansion, never turn on the heat or repair the leaks or damp. Become an eccentric old lady who wears wigs and yells at anyone who comes near her home. Oh and get a shitload of cats.

If you seriously have £3m for a house - which you may, inheritances happen - please think forward - you have kids - buy a house for all of you, and two flats or a house for them... you can have the income from their houses until they turn 18 - then give them to them, without inheritance tax so long as you survive a further 7 years

It is unlikely with your family values that they will go into high earning jobs... and yet they may well want to live in their own city ... but won't be able to afford it.

If you want to spend the whole £3m? I'd hold back £300,000 for maintenance etc and buy somewhere in Pimlico or South Kensington but make sure you look for somewhere where NOT everyone is wealthy. Pimlico/Westminister I think more mixed

Not that weird. Plenty of band F/G terraced properties in nicer parts of London worth about £2m that wouldn't cost a huge amount to run. Beware the schools op. You'll need the other £1m for school fees.

Why wouldn't you spend less and use the rest to love well? Even by London standards £1m would surely be plenty, it's not like you'd be stuffed into a shoe cupboard.

If you really want to stay in London, you could consider Blackheath. Lots of amazing Victorian housing stock for your budget and would leave you significant change if you want. But also housing types are mixed, even within an area like the Cator estate, and locally quite diverse. You also have lots of green space and Greenwich Park on your doorstep.