What would you do in our situation - property dilemma (flat vs house)

[HolyParc]

We are first time buyers, almost 40y and have 1 DC who is a pre schooler. Currently in the lucky position of having finally saved a 10% deposit but current prices + interest rates mean we don't have a wide range of options for what we are looking for.

• Jobs in London, currently live in SW London suburbs, renting a flat
• Want to buy a property, only have 10% deposit and can afford around £500K-£520K max
• Current area is lovely and fits our lifestyle vey well: great commute, many amenities, pretty, safe, nice schools etc but very £££, can only afford a flat or maisonette
• If we moved further out, we might have a longer commute (1 hour and 15 min most likely) but would be able to buy a house
• We’d really love a garden and the idea of not having any outside space for the long term is a bit upsetting, however, I don’t know whether I am just being a bit extreme about it?
• I don’t drive, am used to living somewhere with lots of amenities and be able to walk everywhere. Can obv learn but it will take a while
• House buying timelines would potentially be an issue in terms of school applications as even if we moved, we wouldn’t likely be able to be in the new house on time for school applications, which means we could potentially end in a not so great school or somewhere far from home (which would be an issue given the fact that we both commute and I don’t drive as I said)
• Salaries will increase but given our age and jobs we are not going to be able to massively increase our mortgage in a few years so unlikely to be able to stay in current area and upgrade later on

I honestly don’t know what to do. I seem to want it all but our budget doesn’t allow us to. Areas outside of London we are considering are Weybridge (very expensive), Walton on Thames (some houses are quite far from the station or the shops), Hersham (not a big fan of the area, seems a bit dull but cheaper). But commute + after school clubs not being widely available and closing sooner than nursery are a concern whether we wouldn't have that issue in the current area as we have a faster commute.
What would you do/have done in our situation?

@Hgsrh I have always lived in flats as tat's the norm in the EU and am used to neighbours noise tbh. Only bothers me if there is some serious shouting or loud music but not every day standard type of noise

Hi, I live out your way. We spent a year renting in claygate which is an amazing village but we couldn't afford the prices. We went further south and now live outside woking. There is a great station called brookwood with fast trains into London so have a look around there.

My village has a bus specifically for the rush hour trains and it's a beautiful spot, lovey schools and space

Ground floor massionate or flat with garden?

I wouldn't move to the home counties unless you like the area, want to drive regularly, and don't need to commute in every day. It's a different lifestyle and many people who love the central London lifestyle just don't enjoy home counties living. The commute makes a long tiring day. I definitely wouldn't both commute daily in with your DC in childcare for very long days, you will all be exhausted.

I'd either buy a flat in your current area and accept that you won't have a garden which is a completely reasonable decision, or choose a cheaper area of London where you can afford a garden.

One thing to consider is whether your current area has a decent secondary and whether your friends are likely to stay. Some areas have a lot of movement in later primary years as families move out for better secondaries and cheaper houses. If your friends are likely to move away, you may be better considering other more affordable parts of London now.

If you stay in a flat I'd prioritise one that won't feel stuffy in hot weather and with a park nearby. Having a garden is useful, but it isn't the be all and end all. If you love your current lifestyle I wouldn't swap all that for a garden in an area that doesn't suit you.

Where do you need to commute to for your jobs?

I would stay in London - however, you may be able to buy a house with that budget. I am not sure what part of SW you live in but areas such Colliers Wood, tooting, new malden, raynes park etc may be doable.

Thanks all for the messages. We are starting to view a few apartments and I think we will settle with this option, feels right at this stage of our lives.

@Hopelesslydevoted2Gu many of our friends are thinking of leaving because they also cannot afford a house here. However, their situation is a bit different from our as they all tend to have super flexible jobs or work part time or work shifts and they’d be able to manage pick up and drop off without overly stressing about the commute.
There are a couple of good secondary schools in the area and a grammar school potentially within catchment (if there is such thing for grammar schools?) depending on where we end up living