Help - can't make my mind up RE a flat!

[summerlovin94]

Hi! My husband and I have reserved our first home, a 3 bed flat off plan in zone 3 London via a buying scheme - it's a 5 minute walk from our rented 1 bed apartment. We live in a beautiful area close to the river Thames and in our current rented place, as soon as you walk out of the door the river and park are in view.

My issue is, I'm used to this beautiful view now, and our reserved flat despite being a 5 minute walk from the river and park, doesn't have a great balcony view - it's first floor, road side, opposite a hotel which is being renovated soon. All the flats with nice views have been snapped up, or are very expensive.

There is another apartment we could go for, with a lovely garden view, and much bigger - problem is, it's a lot pricier and would mean we can't really save anything during the month.

Ultimately I would rather go for the bigger place with a nice view, but this is a stepping stone on to the property ladder and by no means a forever home - so would it be wiser to go for the smaller home with a less desirable view? I'm really stuck!!

Go for the view, as long as it will never get taken away.

I did think that but I'm wondering if stretching our budget would be wise, although the flat would be perfect for us. But do we really need perfect for our first home?! I don't know.

We are expecting pay rises and promotions after a year so that is also something!

Go for the bigger one. We didn’t and were looking to move within 2 years.

go for the bigger one with the view - it will sell better too when you want to sell in a few years time.

What prices are you talking here? What salary multiple will you be borrowing? Are you expecting to earn more in the foreseeable future?

What buying scheme? Sometimes places with such schemes are harder to sell as the pool of buyers is smaller.

Lots of variables.

Ignore my question on pay rise, I see you are expecting some.

Have you researched how quickly used flats around there sell for? New always has a premium.
What are the service charge increases each year?

@MondayYogurt

What prices are you talking here? What salary multiple will you be borrowing? Are you expecting to earn more in the foreseeable future?

What buying scheme? Sometimes places with such schemes are harder to sell as the pool of buyers is smaller.

Lots of variables.

The buying scheme isn't the issue as such - the area is in high demand with very few properties available and the prices of used flats have skyrocketed since we first moved here.

In terms of price, it's between 1750 per month and just over 2000 per month, both doable on our salary but one better financially

If the difference is only £250 per month, I'd go for the larger one. The space will be great, and it'll be much easier to sell when the time comes, given it is one with a view.

I think the outlook is part of the appeal. It will help resale. I’ve owned two properties and even the city centre one had a nice (though fairly ordinary) view.

Yeah I would choose the one with the view too - you will enjoy living there more and will get the extra cost back when you sell it as it will achieve a higher price

Definitely bigger for that price

Get the bigger one and then there will be space for children if you have them and you won't need to move urgently.

Don’t get a flat that overlooks a hotel. I had an office with a floor to ceiling window directly opposite a hotel. I can’t I see what went on in there! You’ll end up with blinds and no view.