FTB looking for some help / advise, really needed as it's getting a bit crazy

[Raislander]

So we've been living in London and renting for the last 7 years, and my wife and I finally decided that we had enough of renting and we need our own property. That was the easy part, since we have started looking around, 2-3 months, we have the feeling in general things are way overpriced, we have seen mainly 2-3 bedroom houses some of them in conditions more than questionable.

We are looking in Debden, Loughton, but also in Brentwood or Billericay, however we are starting to have some doubts about investing/buying outside London, and we are considering now other areas like Sutton.

Our budget is 350K-400K, which I don't think it's a small one tbh, however the properties we see are mostly at the top of that, and normally they are in need of deep renovation or need some work to be done.

I would appreciate if you could suggest other areas similar to those, and also what you think, is it worth to invest the money/buy inside London, or could we see more value in a place around London?

I work in Canary Wharf so also commuting is important, but my wife is a teacher so somehow she has more flexibility about location.

Thanks a million!

We live in Sutton out of choice (could have afforded anywhere in London). We had absolutely no links to the area when we started looking but I like my stats so I checked things like lowest crime rates, highest school attainment at primary and secondary, greenery and quality of air and prices per sq ft and everything pointed me the Borough of Sutton. Commuting to Canary Wharf would probably not be great (train to London Bridge or Blackfriars + tube) but there's a direct train to the city and you get a seat. I reckon you'd fit right in around here too. It seems that most people around here are teachers, IFAs and IT consultants ;)

Other boroughs that come top of list based on the above criteria are Bexley and Bromley.

With regards to the in/out of London dilemma, a lot of the commuter belt isn't any cheaper anyway. You also need to factor in high commuting costs or getting screwed when there's a problem on your train line. For us, it has also felt weirdly re-assuring to know that we can get a night bus from Trafalgar Sq or the tube to Morden + minicab.

Wow, I mean really wow. It is like you've done what I've been doing for the last few months, jajajajajaja.

Exactly the same, we've been checking stats, like lowest crime, best schools (scores, etc....my wife is controlling all that part for obvious reasons), and it all points towards Sutton. Don't know exactly which area in Sutton though, is there any no-no place around there? We are really new to the place. We may well be doing a bit of a weekend visit and see around to have a proper feeling.

I'm not IT consultant, but I work in Telecoms, but yes you are right on the spot, we think we should fit quite well into the area. And about the London belt dilemma, we came to the same conclusion, if you weight in the cost of commuting and trains, as well as season, passes going up consistently every year, then it does make sense to buy inner London.

If you can point out a few areas to look around in Sutton, that would be great. I know Carshalton it's quite nice, but I think we might be stretching way too much our budget in that area.

Thanks a million again!!!

Carshalton is really sweet. The nicer bit is anywhere around Carshalton station and south of it, i.e. the village bit or further out, i.e. Carshalton Beeches.

Cheam is the most upmarket bit of the borough (especially the McMansion area in South Cheam) but it's less attractive for commuting and generally more expensive for the same house.

Sutton itself is fine everywhere ( I don't think there are any dodgy bits) but South Sutton is the better regarded part with the fancier houses.

Wallington has the most period houses if that's important. Further in Beddington, there's a lovely park, cheap housing and the local primary was top 10 in London this or last year. The downside is the nearby stinky sewage works.

As far as houses for your budget go, I'd probably stick to Sutton - you're likely to find something nice close to the town centre. Or try Carshalton or Wallington. If you're a bit snobby, the areas that might not appeal are: north side of Carshalton towards the Rose Hill Roundabout or Hackbridge.

Debden is a long way from Canary Wharf.

Bromley/Bexley are better commutes for London Bridge. You will easily find a 3bed semi in Bexley for your budget. It's a grammar school area though so bear that in mind if you are thinking of kids. Plumstead is a little edgier (but still nicer than equivalent parts of East London in my opinion). Lots of green space, up and coming with Crossrail starting end of next year. Will be something like 7 minutes to Canary Wharf. Already has the DLR plus overground at Woolwich. Blackheath and Greenwich are minutes away for cafe culture!

Hmm I live in zone 6 but even here your budget is on the small side.

Thanks a lot for the tips guys. I have seen Sutton area, and talking yesterday with my boss (actually we have never triggered the conversation) turns out he lives there and said only wonderful things about it.

I'm seeing also Bexley and Bromley, as you are right those would be better commutes but the same issue, I have no idea where to start to look. I've seen one property I like in Bexleyheath, but then again no idea about what the area is like. One of the key reasons for us about not going to Debden or other areas around, that might be cheaper at the end is schools, most schools around that area are ok'ish, so Sutton, or Orpington, for example, falls better on the sort of areas.

But really appreciated any insight.