to ask people who live in a house in Central London what it's like?

[manicinsomniac]

I mean an actual family 2+ bedroom house, not a flat or an apartment or a divided up house etc.

I'm absolutely fascinated. Living in London is my absolute pipe dream but, even though I'm on a good salary, I am a single mum of 3 and would only be able to afford a tiny shoebox in an area of London that would make it worth moving to (I'm only 35 mins on train now so now worth going to zone 4+). Whereas I can rent a lovely little 2.5 bed house where I am.

I don't see much in the way of full houses when I walk around central London (we go a lot) but was walking down a street of them today and the people looked so normal. Not rich at all. And the houses looked pretty run to be honest. It made me think.

This is pure curiosity but, if you do live in a zone 1/2 house, can I ask:
Which area it's in
What the area is like to live in
Whether you think it's worth any sacrifices you may be making

and, if it's not too personal (sure it is for many and I completely respect that) whether you consider yourself affluent and, if not, how on earth you manage it?

I have to admit I'm so jealous!

[ArcheryAnnie]

I live in a flat in central London. The people I know who have houses are either very rich (work in the City, or are barristers, or have old money, that kind of rich) or are the exact opposite and are living on very small incomes, and have a council house (which they've had for a long time because council houses are thin on the ground nowadays).

I love my flat, but I dream of having a garden, as I'd love a dog. But then I hate driving and I don't need to here, whereas all my friends who live outside of cities are forever in their cars. And there is so much to do for free on the doorstep for when you have kids: eg we went to one of the Royal Institution Christmas Lectures today - tickets for these are usually expensive and impossible to get, but they put an extra one on today which was free (as last-minute), and as we were close we could go down and get in. I'd miss all that.

[youmustbekidding]

Actually, the £2.5k was for five years ago. The cheapest for a similar property in that area now is £3.25k pcm. Even more

[longtimelurker101]

I'm sorry LHR, really hope things work out, can't be easy that.

[youmustbekidding]

I lived in a shared house in fairly central North London (zone 2) for ages, around 10 years ago - the place was fucking massive but not 'done' at all so although there were three of us we could afford a four-storey house on not much money . It was great! We had all of downstairs communal and then a floor to ourselves each which (due to various bodge attempts at making it upmarket over the years before whatever various owners ran out of money) included our very own , personal, fucked-up and not quite working but personal, bathroom. How times change - I just looked it up on zoopla and the last time it was rented out the asking price was £2.5k per month . I assume they've tarted it up. The area itself was dodgy in general but the little few streets around where we were were absolutely lovely - a real neighbourhood feel, with lots of arty boho types around (not Shoreditch boho - proper old school London boho). Minutes on the tube to town, maybe 20 mins on the bus and as those were the days of 60p bus tickets to anywhere (thanks Ken!) that was how we got about. It was brilliant - everything was on our doorstep, there was a massive (stabby) park just up the road for running in, shops that sold everything you could think of all day and night, great parties.

[LHReturns]

Hehe, longtime, you are certainly right with FECCCK....it has been a case of terribly poor planning, and a surprise baby. We wouldn't have wanted it this way! Hopefully not for long, but got tenants to get rid of.

[longtimelurker101]

I'm not trying to aim it at particular people, these threads abound at least once a month on MN.

I do feel sorry for people who read them and ask for proper advice, when so many people either come on being doom mongers and predicting a massive price crash or tell them of some wonderland really near London byt priced like Hull

and Feckkkk... £5 m, I'd be looking at my assetts especially now BTL laws are changing.

Us, we plan to do a "flip" sell the big house once all the DC are fully clear, and move into the flat instead. Hopefully that will work, and we can spend our retirement spending the money disgracefully.

[loooopo]

As are the people who talk of the loely rural idl, with ace schools and great quick links to London, yet at super duper cheap prices.

Never claimed where I live was super cheap.....but "ace schools, quick links to London and rural idyll"....yes....works for what we want - best of both worlds.

[LHReturns]

Our two mortgages (totalling about £5m) cost us a LOT, no doubting that. Painful for sure.

[longtimelurker101]

Harrow Weald isn't bad now it has the overground and you can jump off and change to Bakerloo further down the line.

DS bought in Enfield recently and although I think he misses the convinience of Kilburn he certainly prefers the fact that he isn't spending all of his money on rents. A fairly decent one bed will be over £1,500 a month here!

[ohYestoYestyn]

Machine, is that the sweet side street off hte block where Waterstones is (near Chelsea Green) - I love walking through it when i have a chance though I always wonder if the little houses are a bit dark inside. My dream home is in one of the garden squares though - I love looking out over some mature trees yet being near King's rd.
But I think I'd prefer to have a maisonette/flat there and a house in the country (neither would be huge as too stressful to maintain).

[LHReturns]

Machine123 oh indeed. They are just so characterful, with their shutters, and a short stroll to the Builders Arms. Kings Road perfection....and because these houses are small, they remind me of a lovely life pre-baby when I had time to do....anything.

Unbelievable money for such little places.

[loooopo]

I am not fibbing either - and have no family money (proof - look where I was dragged up....!) - but we were very lucky to be able buy our first property in the 1990's - with two goodish graduate salaries (not city money levels).

[longtimelurker101]

Ah but people in their 40s without a bit of family money living in Chelsea and Pimlico are a rarity. Is all I'm saying. As are the people who talk of the loely rural idl, with ace schools and great quick links to London, yet at super duper cheap prices.

Sorry, but I don't think that its "naive" manner to question statements like that, I think it helps to bring some reality.

Also, just to burst your bubble, MY properties (two) have a combined current value of about £7 million, but we own them outright, just how much cash are you haemorrhaging a month on interest payments when you have asetts to use instead?

[Machine123]

LHReturns, I still walk past our old house and wish we could have bought something on that road back in the day and extend it out/ basement it up! Only 3 years ago the properties were sub £1m. Today they are closer to £3m

[LHReturns]

Yes, we rent the other two properties out.

[ohYestoYestyn]

longterm, but they most probably rent the two other properties out - the rent in Chelsea is horrendously high now! If that building has no lift, service charges can be quite low.

[LHReturns]

Machine123 I know exactly the streets you are referring to in Chelsea and they are simply perfect!! My dream homes in their bijoux perfection!

[loooopo]

Longterm - was brought up in Harrow - Wealdstone to be precise - still dreary and congested IMHO. Live in South Bucks now (near Gerrards Cross)

[Machine123]

My DH and I lived in a tiny two bedroom cottage in Chelsea for two years before we had children 3 years ago). Our narrow road consisted of small cottages in different pastel shades, really pretty looking, I really miss it and loved living there. Didn't feel like you were in London at all despite the Kings road being just a two minute walk away. Having your own front door off the road was great. While there was no garden we did have a little terrace off one of the bedrooms. We were very lucky to have been able to rent it 'cheap' when the landlord accepted our super cheeky offer.

When I fell pregnant we panicked and moved out to a bigger flat because baby would have had zero space to crawl around when the time came. The house was just a long narrow living space with a galley kitchen at the back and a tiny cloakroom under the stairs. The sofas and dining room practically ate up all the space. The upstairs was made up of two tiny bedrooms and a bathroom. I can't imagine where I would have put all the baby stuff and toys!

[LHReturns]

Whois is entirely correct. My DP was earning more than £3m a year (bonuses) at least a decade ago. He gave 50% to his ex-wife five years ago, and we are still in the current position.

OP I'm sorry to derail, but it is irritating to be accused of fibbing in such a naive manner.

[LHReturns]

To clarify: My DP is an investment banker, and I make a very good salary too. I actually played down our position. This sort of money in your 40s is not uncommon in our part of London.

Neither of us have mortgages on our separate properties, he has a mortgage on our country property, and we have a joint mortgage on our London property. The combined value of all the properties would be upwards of £12m.

I was answering the OPs genuine interested question, in no way trying to show off, or to be 'improbable'.

[longtimelurker101]

Hmm... but you still wouldn't be maintaining properties in other areas whilst paying a big mortgage would you? As they sadi they had, the area they discussed they are looking at 3 million at least for a large house, and even low interest rates don't stop the hurt on big mortgages.

If you were super lucky and got the base rate on £1 millon then you'd still be paying 50k a year in interest.

Anyyyway, improbable I reckon.

[whois]

Improbable all of it.

Re the poster who owns lots of houses? I dunno... If you as a couple were both exceptional and did well In banking you could both be clearing a million a year 12 years after uni. It wouldn't take too many of the big bonus years to get deposits down on houses and banks used to lend against your bonus numbers not just base salary.

[whois]

I live in a zone 1flat, but there are only 2 of us so don't really need a house.

Love it. I bike to work. Live walking distance from many friends. Live in the middle of loads of nice restaurants/bars/pubs etc. Culture right on the doorstep. Never short of anything to do.

The only negative I can see is that I don't own the flat so we'll probably be priced out as some point as the area is getting nicer and nice with every month.

I don't feel rich but on paper I suppose I am - approx £90k last year for me.

We sacrifice having a second bedroom to live in this location - and right now I wouldn't change that choice. Probably be different with a baby I imagine.

[longtimelurker101]

Dancingduck, i think people tell all sorts of fibs on mumsnet, there are posters all over this site that say they live x commute away, or who live in large houses worth millions in "in demand" areas, which have been in demand areas for years, whislt maintaining properties in other areas which are also probably worth millions, but independent of family wealth and having only been out of uni 20 years.

Improbable all of it.