To think this house is worth it and London won't crash?

[Yazhi]

After searching for a long time we have found a house in an area that both DH and I like. DH thinks we should wait and see if the prices drop in London. Flats seem to have dropped and he's hoping houses follow. Who do you think is right?

@Island67 because OP literally asked for advice on other areas to live in, with good schools, access to green space and a good high street.

The point is there are places just as nice (if not nicer) than muswell hill which are MUCH better value for money, with an equal commute time into London.

I think what the people who don’t want to live in London don’t understand is that, for some people (myself included), the big house, the swimming pool, etc just isn’t worth it.

Generally, people choose london because of the community, which isn’t quite the same outside of it. London is a truly diverse city, a place where people from all over the world choose to live.

Lots of areas outside London tend to be homogeneous. There’s nothing wrong with that, if that’s what you want, but if it isn’t - then it’s worth the expense to stay in London.

London also has excellent schools as young, ambitious teachers tend to (not always!!!) want to live in the city.

You’re either willing to pay the premium to live in London or you’re not.

The OP can afford the neighbourhood she wants. Why keep showing her cheaper ones?

And, to reiterate what others are saying, both those houses are in the catchment for great schools (primary and secondary) and you won’t need to move again, and you won’t need to pay for private school.

[quote slippersandprosecco]@Island67 because OP literally asked for advice on other areas to live in, with good schools, access to green space and a good high street.

The point is there are places just as nice (if not nicer) than muswell hill which are MUCH better value for money, with an equal commute time into London. [/quote]
I must have misunderstood. I thought she was asking for areas INSIDE London that are as good as Muswell Hill for families.

I think second house definitely worth £100k more
It’s larger by square footage to start with

Looks like there’s some competition if op wants to buy the first house anyway as someone has already mentioned they’ve put an offer in on it

@Island67 OP said she's not British and therefore may well not know about the other options outside of London- what's the harm in telling her?

But they are both lovely houses- if OP is happy with the fact that she could get even nicer houses elsewhere with just as good a lifestyle etc then that is of course her choice, but best to be well informed!

I've just been back to the links looking at the Streetview and nearby sold prices...that area is lovely OP, the road looks leafy, wide and spacious, and there don't appear to be parking restrictions (you can confirm when you go to view).

What's clear to me is that those prices are not dropping anytime soon. People who bought in that area during the late 90's/early 2000's are laughing now with very full pockets. The double fronted properties towards the end of the road, from about number 100, are to die for. The gardens are lovely too. I've always disliked terrace houses, but these are in a different league, if I had a spare £2-£2.5m, I'd be spending it on one of those!

In short, if you like either house, go for it, though you'll definitely have competition, so you'll need to be quick.

What I don't understand is why you'd post on Mumsnet about a house you like because you are vastly increasing the likelihood of someone else competing with you for it. Which is why I always assume it's actually the sellers trying to drum up more interest.

There are areas outside of London that are almost as expensive. Winchester comes to mind.

Not all STEM degrees will lead to six figure salaries.

Under normal circumstances, prices will probably not drop. But we are we living in normal times? The pandemic has overshadowed Brexit, but to return to that knotty subject, I feel personally that political Brexit afficinados led us into it, without even knowing themselves what to expect, and we don't really know.
Little tests I'd be undertaking are: if you rented it out, are there enough people earning salaries - even in bad times - to pay X 4 what you'd need to cover mortgage payments?

Because who knows what's round the corner? Who can safely say mortgage rates won't rise a lot? Who says public transport costs in London won't massively rise, making more people want to WFH. I don't think Transport for London have had an easy time of it, but luckily/ hopefully the government have been helping.

Any approach to spending decisions is always happy and healthy if you spend less than you can and get used to living simply. It's safer.

It's a good time to be making choices, as the kids are probably too young to have become attached to a location or way of life. Perhaps OP DH is right in saying wait a bit and investigate and explore.

Not X 4, sorry, but 4 people sharing contributing in total enough to cover mortgage payments. Just in case something unexpected happened, such as a job move, and selling was difficult, so letting would be the other obvious option

@MiloAndEddie

Well that’s a stealth brag if ever I saw one

I was just thinking the same

Hi OP. I think those are both great houses and, from a SW London perspective, they seem amazing value to me! Where I live (SW London zones 2/3), similar or slightly smaller houses are double that price.

I haven’t been up that way in years, but I remember it’s got a family vibe and the high street had loads of restaurants and cafes.

One question - you say you don’t drive, yet these houses are quite a walk from a tube? This could be an inconvenience as the kids get older.

Don’t know about the schools up that way. Around this area the demand for state schools is so high, people are forced to go private whether this was the plan or not. So if there are good schools they can get into up that way, that’s even better. I would have thought a a fair few will have their eye on schools such as NLCS or Highgate for secondary though?

Also, I thing the reason the serving house you posted was more expensive is because it had an extra living room on the back of the house (although smaller garden as a result). Lots of families like to have this kind of kids living room / play room because, in the evening, they can shut the door in all the kids stuff in there and withdraw to their own adult space.

second house, not serving!

It’s a lovely house but ouch the price for the size (northerner here) and that rope that looks like a hangman’s noose in the kids room!!

@Grellbunt writes " What I don't understand is why you'd post on Mumsnet about a house you like because you are vastly increasing the likelihood of someone else competing with you for it ........"

I think that too when reading posts on specific houses.

I think too that if the poster goes on to buy a house featured in a post their anonymity is compromised.

I hadn't thought about the "seller" angle, Grellbunt. But the OPs usually give a couple of options they are thinking of buying.

Well, obviously, to put people off the scent!

Just doesn't add up if it is a buyer, esp in a fast market. But maybe some folk don't see it that way? I can't see any way it could benefit the buyer at all.

PMSL about the idea that the kid would stand out in a state school. This isn’t Rotherham and a 25 bed mansion…. It’s a normal terrace in a nice part of London. Living in that type of house will absolutely not be an anomaly for the school.

I live very close, but my property is cheaper as it's n22 not n10, plus it's a flat.

Muswell Hill will always sell.

@Grellbunt I'm not sure how? It's not as if Rightmove is private. Anyone looking for a house in MH will have seen the available options. House prices here are nuts compared to where I'm from but it seems really rude to discuss these things at say the toddler playgroup, so here I am. Once we do buy a house surely that's recorded on the land registry and the electoral roll as well. It's not as if we are giving up any privacy.

House 1 is using old photos because the house has been rented out for the last few years. The agent hasn't shown it in the best light either. The front of the house is really lovely but you can't tell from the photos. It has bags more curb appeal than house 2. We viewed house 1 but haven't seen house 2 yet. We've walked past it and it's much less impressive from the front. It doesn't have the fancy Edwardian carved plaster/woodwork at the top.

Thank you to the poster who linked to last distance offered for schools. I thought there were fixed catchments but it seems not. If I'm reading it right then this house was firmly in for APS and Rhodes Avenue. Seems like on any given year it might or might not be for Muswell hill primary.

People are worried about their kids standing out in school? This is Muswell Hill, all very liberal, Guardian reading state school supporters!

One of the reasons Muswell Hill is £££ is because of the Fortismere catchment area adding a few 000s onto the price tag.

None of the parents can afford priv ate education anyway. Their salary is swallowed up by the mortgage.

APS is far superior to Fortismere nowadays- it's probably APS keeping the prices high just as much.

Ps not a parent but yes I think it's catchment for Rhodes Ave and A PS, which I think have good reputations.

It's a fab area

Great for kids. It's not really like "real London" atmosphere wise but it's a lovely sheltered bubble. Taxi home from Theatreland will be pricey, for instance. How much of central London will you really benefit from? Weigh all that up.

If you like the houses and a quiet life, go for one of them.

OP, we live in another but equally lovely, family-friendly, green and leafy part of London where there is a lot of emphasis on school catchments for outstanding primaries, and state v private debates

The one thing we noticed this year was the first offer catchment got a lot smaller, which seemed to be a lot of parents who were going to go private deciding to apply for state places, presumably as a bit of a panic after financial uncertainty
But they then obviously didn’t take up those places because the second offer catchment distance went back to sort-of-normal

So if you are studying the catchments, bear in mind this year was a bit of an oddity

(Also, look at the ‘between the commons’ part of SW11 if you’re open to other areas. Ticks all your boxes, amazing high street of Northcote Road, excellent state and private schools, masses of green space hence the nickname, and a really lovely community feel. And great transport with the tube and overground)