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Original poster

Can I afford anything?

51 replies

QueenLizIII · 26/09/2016 12:07

I am not property savvy and just started looking.

Live inside the M25, have a £42k salary and have £30k saved up.

can I afford even a one bed anywhere inside the M25?

OP posts:

Womble75 · 26/09/2016 16:05

Bah link fail on first

www.rightmove.co.uk/property-for-sale/property-59661800.html

YelloDraw · 26/09/2016 17:10

Womble75 commuting costs from Basingstoke aren't negligible tho - probably not a move i'd make unless on my own unless I already had some friends around there as otherwise weekends could be lonley

phoria · 26/09/2016 17:26

There seems to be lots of cheap flats in Norwood and around that area too.

Like this: www.rightmove.co.uk/property-for-sale/property-56864105.html

Been on the market a while so you could probably haggle it down.

Original poster

QueenLizIII · 26/09/2016 17:55

Oh I love that Norwood flat. The mortgage listed there is currently what I am paying in rent anyway. Thanks.

I wouldnt move out to Basingstoke as that will cost an utter bomb in fares.

I did look at Watford as there is a 20 minute fast train to Euston but not sure.

OP posts:

Original poster

QueenLizIII · 26/09/2016 17:55

Oh I love that Norwood flat. The mortgage listed there is currently what I am paying in rent anyway. Thanks.

I wouldnt move out to Basingstoke as that will cost an utter bomb in fares.

I did look at Watford as there is a 20 minute fast train to Euston but not sure.

OP posts:

phoria · 26/09/2016 18:40

the good thing about norwood is it's on the east london line - the best line!

user1471446905 · 26/09/2016 19:20

there are no windows in the bedroom of the norwood one!

united4ever · 26/09/2016 19:24

I don't know London too well but that Norwood flat looks to be the nicest one linked up, right near a train station but the cheapest one. How come?

phoria · 26/09/2016 19:48

i guess because it's effectively a studio as there's no window in the bedroom. still if you can live with that it's a decent size.

tissuesosoft · 26/09/2016 19:49

Watford is a lovely area! My partner and I live in Pinner which is great and takes less than hour for my partner to get to Southwark

bibbitybobbityyhat · 26/09/2016 19:53

Mark my words: Croydon

adjsavedmylife · 26/09/2016 20:08

It might be worth doing some research into shared ownership? There are pros and cons and not for everyone but might help you buy in an area you couldn't otherwise afford.

Original poster

QueenLizIII · 30/09/2016 19:21

Croydon is an OK area and affordable?

OP posts:

johnd2 · 30/09/2016 21:17

I've heard Croydon is up and coming. However My advice would be look for places not near stations, yet close to good bus routes. We saved probably 100-150k on a house just because it's a mile from the nearest station as the Crow flies and 2-3 miles from the nearest tube station. However there are buses to zone 3 every few minutes, whereas outside London the commute costs are prohibitive.

eurochick · 30/09/2016 21:23

Croydon is not fashionable but there is loads of building going on at the moment and the centre is about to get a Westfield which will help it up and come. The train takes about 15 mins into London Bridge or Victoria from East Croydon so it really should be a desirable commuter area.

phoria · 01/10/2016 10:33

It's getting a Boxpark too which is why people are saying it's going to get trendy. I grew up near there so it's funny for me to hear this as it's basically just a huge suburban shopping centre but you never know!

Original poster

QueenLizIII · 01/10/2016 12:31

boxpark?

So Croydon is going to end up maybe a new Streatham or a new Brixton?

it is going to get gentrified?

OP posts:

phoria · 01/10/2016 14:03

I've not been for a while so I have no idea what it's like now but if you start seeing hipsters milling around once boxpark is open then yes gentrification is coming!

Stokey · 01/10/2016 15:12

Apparently Barking is on its way up. There's quite a few places on the loopy East bit of the central line that may be affordable and are a reasonable commute to the city.

TheCyclist · 02/10/2016 00:38

One-bed in Zone 3 Leyton. Quite rare in that ones at this price usually have the 'over 65s' clause. 85 year lease.

www.rightmove.co.uk/property-for-sale/property-44382012.html

A hip new pub has just opened literally just down the road from this.

alazuli · 02/10/2016 00:50

i guess because it's a basement flat and next to a cemetery. is an 85 year lease acceptable? it's a very good price!

RTKangaMummy · 02/10/2016 01:21

Watford junction is going to be joined up to Met line next year IIRC or might be year afterwards

It will then be 20 mins to Euston on London midland and overground system AND METROPOLITAN TUBE LINE via Harrow, Wembley & Baker Street etc

So it will have more commuter links to tube system

conkerpods · 02/10/2016 08:57

Easy Croydon has excellent transport links. They're building a Westfield there.
I think buying in that area would be a good investment.

TheCyclist · 02/10/2016 12:33

The cemetery (St Patrick's) is actually about a hundred yards away, with Leyton tube station about 200 yards beyond that.

I don't know anything about leases - 85 years sounds a long time but probably isn't to a lender? Might be worth investigating, anyway.

I know that area well - bit rough around the edges, but Leyton really is on the up.

PleaseNoMoreMinecraft · 02/10/2016 14:39

Have you looked around Mitcham? There are rail links into Victoria, and the prices aren't too bad?
e.g. www.rightmove.co.uk/property-for-sale/property-50606146.html

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