Small family looking for 2-bed flat in London - budget 700k - but where?

[rollypolly80]

I am about to start my property search - currently renting in Central London, but really need to get a place for me and DS. I am new-ish to London and with a small kid/work/lockdown just haven't had that much time to look around the different areas, so would be great to get any advice on areas to look at.

Where would you recommend that is green, family-friendly, liberal and not too suburban. Because I am on my own it would be great to move somewhere with a nice community feel that is not too transient but still has a nice high street with some useful shops, cafes and a few things to do with children.

Budget is around 700k tops for a two-bed flat - but needs to be somewhere with great state schools for DS and not too long a commute to Euston. So, unfortunately, SE London is probably too far out as its just too long with my commute and pick up times etc.

Any areas that you could recommend? Thank you!

totally agree with the suggestion of West Hampstead, Queens Park or Brondesbury Park. They are all on the jubilee line have a lovely community feel but equally very close to central london.

Watford junction to Euston is 22 minutes.

Then it depends from there how far you want to travel/drive to the station

Or friend lived in Maida Vale with her young Ds which she loved. She found it had a really lovely community

Walthamstow - vic line to Euston?

On Rightmove there is a Where Can I Live option and you put in where you need to get to in what time and for how much you have and it comes up with areas

For £700,000 I think you could definitely afford a house with a garden

Thank you, everyone! Sorry only just managing to catch up. Will definitely follow all the lovely suggestions. With everything going on its just so hard to find any time to do all the research etc - so this has been really useful!!

My original thinking was that it might be easier to get a nice flat in a nice area with great schools and a half-decent commute than a small and probably run-down house a lot further out. But maybe that is wrong and I should widen my horizons...should probably start another thread on this... :-)

Based on what you've said I would take a look at Dalston/London Fields/Shacklewell as well as Stoke Newington. Dalston gives you two train lines to Highbury where you could interchange to the Victoria Line, plus a couple of bus routes that go there plus - in extremis - you could walk back from Euston in 90 minutes or so.

It's a lovely family-friendly place. London Fields and Broadway Market are a bit further from the travel routes but have great shops/cafes, Dalston is more buzzy but still full of families and Hackney Downs is a fantastic green space, generally less busy than London Fields. The whole area is very diverse with lots of different groups of people living alongside each other. I found it very easy to make friends - the kids help!

Primaries are mostly great, I know less about secondaries. We recently moved from the area to get a house and a garden and I miss it so much! You have options in terms of housing stock too - there are plenty of new developments in portered buildings but also Victorian conversions. For your money you'd be able to get a lovely garden flat, or a high-spec newish build - you might even get a third bedroom if you wanted one.

Further out you could probably get a very nice 4 bed detached.

Have you thought about Stoke Newington?

Nice properties, lovely green spaces in Hackney, about 35 mins to Euston, very friendly area.

Highbury/Islington - you could feasibly walk to work during a crisis like this one.

Secondaries are your problem in a lot of the more central and trendier areas. Plus raising a boy in central London - I am in zone 5 and it still gives me sleepless nights.

I would actually probably continue renting for now if you are at a primary school you like etc and then move when you start to consider secondary and know what sort of school you might need - I might even go much cheaper then and save 200k for private if needed. I wouldnt be putting all my eggs in a 2-bed flat shaped basket at the moment.

Also another naive question - how often do people move house once they've bought somewhere? Where I used to live if you bought a place that was basically it. But what do people do if they've made a mistake?

Of the people I know in commuterville who don’t love their home/location that they bought, most stay put due to the high costs of moving. Unless they have plenty of money and/or a pressing reason to move, eg schools, divorce.

Can be good to rent in the target area first.

Agree with PPs that would make being close to popular schools - both primary and secondary - a top priority wherever you choose.

Most of my friends - we've all been in London about 20 years straight from university - have bought twice and most plan to do at least one more move I think. It's definitely not a case of buy and you're there forever, but I'd say in the current market you might be wise to think about a 5-7 year stay, because moving is expensive and I suspect house prices may be volatile, so you don't want to feel under pressure to move.

From everything you've said I do think you'd be well-advised to stay central-ish (like, Zone 2) and buy a good-sized flat rather than go further out in order to get a house. I also think it might be a good idea to browse Rightmove and maybe even Google maps for some of the areas suggested - when things open up a bit maybe go for a wander around - and then rent for a year or two somewhere that you know you could afford to buy. That way, you'll get an idea of the good streets and the community before you commit to the longer term.

@rollypolly80 I have a two bed flat in Shoreditch, I very much doubt I will move from here.

Look at what you’d be paying in stamp duty for a move on £700k - because that’ll make the £2k/month you’re spending on rent seem trivial!

Also, you said that was majority inheritance. If your salary is in the ballpark of normal, it’s going to be a drop in the ocean compared to the price of London property. Your buying power isn’t going to go up unless prices come down. And if prices come down, it’s better you’re still renting.

If you’ve moved to London because you want the experience of London, I really would wait and see what it’s like post-lockdown. If it becomes a thing that you have to isolate regularly or getting the tube is scary or social life all but vanishes, it’ll all make a difference. I would also be thinking that lots of people freed from having to be in offices every day may well move out of London completely if wfh becomes the new normal.

And yes, as PP said, two bed flat prices are notoriously fickle. I’m not sure that’s where I’d be putting my money at present.

I just checked. Stamp duty on £700k = £25k.

Plus if you’re selling EA fees. Another 1% or half? (When I sold in London it was half, but it’s a lot more where I am now so no idea.)

I would keep on renting for now, your aren’t seeing normal London at the moment.
After that I’d be looking at schools, I also wouldn’t want to be commuting into London on a train if I was a single parent, so I’d suggest staying in London and somewhere on the tube.

Another shout for Tufnell Park.

Thank you so much for all your suggestions! WIll look through them and focus on two/three areas to explore. Now if only there was some clarity as to what the economy/house prices are going to do next..that'll be nice ;-)

Hate to be the one to say it... but there's a reason towns like Watford have 'cheap' property in comparison to London.

Another one suggesting Stoke newington. Seems to have everything you’re after.

Islington... Fabulous.. Zone 1/2..15 mins on bus or quicker by tube to Euston.. Great community feel, quite diverse, lots going on.

If you are willing to commute a bit, then Berkhamsted is a great town. Much nicer than Watford. Also try St Albans. Neither are cheap but are very pleasant. The commute is ok but of course can get crowded.

On the northern line you could go south to Kennington or Clapham. Both have parks. I would areas of London with overground only. Quite often, a property with an underground station close by maintains price better than a property further away so don’t go more than 1/4 mile or so. Unless it’s absolutely wonderful!

I think as you are on your own, you need to be somewhere relatively central, as if you are dependent on a train line to get to school to pickup, and it isn’t working, you have a big problem. At least centralish you would be able to tube or even walk if necessary.