Would you buy in Welling, Kent?

[stargirl04]

Hi chaps,

I don't know Welling but it's more affordable than London, where I work and live (renting). Am trying to buy now before prices rocket further here.

I looked at this place yesterday:
www.rightmove.co.uk/property-for-sale/property-43207019.html

What do you think? This was before a mortgage adviser told me I can borrow more for longer, upping my budget considerably (190k ish, maybe more).

The vendor, a retired Irish lady, has lived there ten years, says it's really safe, never feels threatened there. And there is no service charge, which is highly unusual for the London area. I could live there very cheaply and not worry about paying the mortgage - my earnings fluctuate as I'm self employed.

On the other hand, when I went to view another flat in SE18: www.rightmove.co.uk/property-for-sale/property-41787344.html

.... the estate agent told me there is greater price growth in London postcodes because you could "guarantee the property is going to go up in price".

The second flat has service charges of 2000k a year!! And the room layout was such that it would be a close call trying to fit a 3-seat sofa in instead of a 2-seater.

I really liked the Welling place, but am worried I might be buying something that won't make much money in the long run. ie, a bad investment.

Would really appreciate some advice. Thanks guys.

OP, so did you consider Hiter Green? it's not as edgy or rough as Catford etc, more sort of quiet, and a few good pubs at least, but it's not 'nice' either. Reasoinable value there and v.good for London Brudge where your office will be - if you will consider a train (it's smth like 20min).
Out of interest, have ou been to Catford recently? I'm loving the flats inside, te one you linked is a good example. Is any sigh of cafes/nice pubs appearing? I'm also your age btw! not the first time buyer but still wringing my hands with findsing a place. SAw a great big flat in Bromley on rightmove, needed cosmetic work but large! of course rang the agent, and it was under offer - honestly just how fast do you have to move?? It's almost like all the prof investors are buying these.

Hither, of course

'is there any sign'

Oh, just read your message Oscar, shared ownership is something I would consider if I was definitely staying in London long-term, because it ties you in that you're not allowed to rent a shared ownership property out.

There is a big part of me that wants to leave London and move west to be with family, but then I will struggle for work as the work in my industry is in London.

So, supposing I get a place in London, then decide I do want to move west after all, I can rent out the London flat - but not if it's shared ownership!

If I leave London to live in the west and buy there, I will have a small mortgage, yes, but I will be earning rubbish money and without the option to return to London.

How about Blackfen and Sidcup? Pretty decent little places, Sidcup and Falconwood stations have links into London and Sidcup has a bit of life to it.

Beagles, the last time I was in Catford was about a year ago but a pal who follows property trends saw a show on TV about Catford featuring a groovy young girl in her 20s who'd bought in Catford and all her other groovy pals were in Catford too... if you want to believe that!

I did look at a place in Hither Green not even a year ago which am now kicking myself for for not buying. i am obsessed with not living in poky, teeny shoe box and I felt it had a touch of pokiness...now realise I was being way too fussy!

I would def. consider Hither Green, and Lee too, and Deptford.

The reason it makes sense for Catford to appreciate is because neighbouring Forest Hill was affordable (for me at least) five years ago but is no more, so people like me are looking to move to neighbouring suburbs.

The Hither Green place I stupidly wrote off (last winter) was shown to me by an obnoxious agent who told me that you "couldn't get anything under 200k in Catford these days" - and that was before the prices surged at the start of the summer.

I loathe Catford but am learning to be realistic

What are your thought on ex-local, folks?

I have a snobby pal who wouldn't even live in a street with an LA property let alone in one itself.

I saw an exLA that had great space but grim prison-like stairwells and car park; and the indoor fixtures and fitting such as doors and window frames look shabby, dated and down at heel. Would be expensive to rip them all out, I fear, but would welcome hearing otherwise!

Tribble ... I will have a think about Blackfen/Sidcup, though Sidcup seems full of old folks!

Agree Beagles that investors are buying up all the best places in a heartbeat. Wish they'd b**er off and let struggling folks like me have a chance, heh he....

Hmm - I notice it is £189k. Lovely flat though - not a surprise it went so quickly. It's worth keeping an eye on stuff above your budget and making the odd cheeky offer. We bought our first place for £294k. It was advertised at £320k.
www.rightmove.co.uk/property-for-sale/property-43262291.html
Basically the same property - overvalued I would say.

Yes Oscar, it is overpriced when compared to the 18k one that sold in 48 hours! Another 3 places I was interested in are all under offer, I have just found out in the last hour... but thanks for the encouragement anyway.

Beagles, do you mind me asking which town you are in? PM me if you like.

sorry, meant 189k one....

I know two sets of people who bought ex LA in London Bridge and Bermondsey 8 yrs ago. Not pretty from the outside but if the development isn't huge and close to public transport the appreciation can be very good. They've both ended up with lovely apartments with very good buy to lets. Never had problems getting or keeping tenants to my knowledge.
The only issues they had were that the construction of both properties (lots of cement) meant lots of surface mounting of wiring etc. It also meant that internally the whole lot could be ripped out though as nothing was a supporting wall so not all bad.

www.rightmove.co.uk/new-homes-for-sale/property-42369905.html
Nice example of shared ownership. You are not so far off the asking price that potentially you couldn't buy out the rest of your share within a few years

OP, no I wouldn't go for ex-LA if I were you, purely because you can afford private andfreehold! I just had alook at Dartford - trhere is quite a lot there! If you would consider it, look at those. It hasn't caught up yet in popularity and there aare HOUSES there for 220 with 3 beds garden etc. Althouhg even cheaper is Crayford. OP, have you been to Dartford yourself? I'm going to go there and look when I'm in London next. At least the poster on here said it would be their choice out of all these areas.

I wonder does anyone know about Crayford and is the train link much slower than from D. (I assume Dartford is getting popular due to a bew rail link).

Will pm now, OP.

Oh, forgot to say, I'm against ex-LA purely because you may get bad neighbours and won't be able to do anything much about it. Also maintenance can be high for private owners. These places are often depressing with lots on people out of work (I'm not saying it's their fault, just a fact), who then play loud music late at night - obviously it could be a minority but you wouldn't know until you move in. Unlike in a conversation, there aer many more neighbours so more chance of someone being a pain.

I'd maybe make an exception with a small low-rise block where at least there can't be teenage gangs or drug-dealing, and with easy approach from a main street, but forget those maze-like estates! it's not for a lone woman with a daughter, unless you have nerves of steel - and esp not in London where they tend to be large-scale.

unlike in a conversion - God, it's not my day regarding accurate typing today

Catford definitely on the up due to the availability of relatively cheap Victorian houses. Antic pub (catford Bridge Tavern) opened a couple of years ago, very shabby chic, and the opening of an Antic pub is apparently always the sign of an area being on the up (take Balham and Brixton - both areas where Antic pubs opened 15 or so years ago). Sadly the lease had been sold to Camden Bars by the landlord do Antic having to get out but they are looking to open elsewhere in Catford. The amount of a Joules, Seasalter and Crew at DCs primary (especially infants and nursery) is a sure sign of things being on the up!!

pippi, haha, so that was the only one nice pub that they showed on Location when buying for a young girl. They haven't shown even a small bit of the Highg street .
I hope you are right that the Antic will stay in the area rather than move elsewhere, but yes, the only way is up, the question is, will it sort of segregate into bad streets/good streets. Can you advise on where exactly is nicer? by the station or further out? I'm going to go and look.

I would check out chisel hurst....I think there are some great flats there and it really feels like the country but is pretty quick into London........you get some greenery, a local pub.....I thinkitis one of London,s best kept secrets myself.

Or Brockley worth a look too.

This is rather nice: www.rightmove.co.uk/property-for-sale/property-40873886.html - the Hollies used to be a children's home. So it's a bunch of old buildings (and a few new(ish) houses on an enormous green, leafy plot a 5-10 minute walk from Sidcup station. Because this flat is in an old building it's built with quality - oh and the pool and leisure centre there is gorgeous!

(I used to play in those old buildings with friends before they were done up to be flats - s-p-o-o-k-y! )

You could also get a 2-bed maisonette near sidcup station well under budget.

It may not be funky and fashionable, but if you're in your 40s and you'd rather spend your saturdays throwing bread at the ducks than dodging hare krishnas in covent garden then it might be a better fit.

No!

Deptford, not Dartford. Very different places but they are the first and the last stops out of London Bridge on that train line

Beagle - I would go for Hither Green end rather than by shops which on the is pretty grim (not something to be shown on Location!). Corbett estate covering streets such Wellmeadow Road, Ardgowan, Minard and then some roads on the other side of Torridon Road such as Arngask, and Glenfarg. Over the past five years, I have seen a real change in this area, with lots of professional families moving in with young DC from areas like Brockley and Telegraph Hill because they're looking for a Victorian house and Brockley, Nunhead and TH are out if if their price range. Also it has the attraction if 2 very good primary schools (torridon and Sandhurst). This area is quiet and maybe a bit boring but definitely worth a look!

Well, I went back for second viewing on the first place in Welling and found out that the driveway at the front of the house doesn't belong to the flat, which is a first floor flat, but to the owner of the ground floor flat.

It's a busy road with a bus stop right outside the house, but the estate agent said I could park just up the road where the yellow lines stop - would be about a five minute walk, but what a faff!

Or I could park in the street opposite, except between 1 and 3pm, unless residents' only permit in order. Said permit is £100 a year, but still can't park outside of flat because of double yellows!

The estatie said perhaps I could come to an arrangement with the woman on the ground floor, ie. rent part of her driveway, but that would be a faff too as there is a wall partially blocking the access. So unless we were both leaving and arriving at exactly the same times every day, one of us is bound to be blocked in.

I know this is something that would annoy me, but I wonder if I could get used to it. This aside, how would it affect the resale potential and value do you think?

This is the flat: www.rightmove.co.uk/property-for-sale/property-43207019.html

I also went to see a surprisingly nice ex-LA flat in Blackheath, decent location and in good condition, and affordable (for me). BUT... (and isn't there always?) both bedrooms backed right onto a very, very noisy road that is busy pretty much all of the time as it's close to the A2. And it is gridlocked every morning apparently.

www.rightmove.co.uk/property-for-sale/property-40985999.html

I really liked it, but for this one thing!

The other place I saw was in Bounds Green; tiny flat but in a safe-feeling and pleasant (if a bit boring) area, which is the best I can hope for on my budget, and close to three stations. I thought it would be a reasonable investment as it has secure underground parking, a lovely big balcony, is a top floor flat and is peaceful, but just tiny!

www.rightmove.co.uk/property-for-sale/property-28176792.html

The asking price is 195k I offered 185k on it a few hours after I'd seen it on an open day and was told the vendor would not accept that! I said I was "open to making a higher offer" if I could go back and have another look as there are no floor plans or photos and we were rushed around in a group (about ten of us) while the tenants where still there.

She was saying it was "undervalued" for that area - but why would estate agents put on properties at less than the market value? Nothing needed doing to it.