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Original poster

Where would you buy in London?

14 replies

Wheretooo · 20/06/2023 08:01

While I would also live there, I want this to be an investment as it’s my only one! It would be part of my pension when I sold etc.

Where would the smart money be in London right now? Budget of £800,000. I’m thinking east? Wanstead, Leyton, etc. Maybe I’m wrong?

What kind of property and what location?

I am so nervous about buying and losing out with price drops!

I have bought in the “wrong” area before for investment (and also didn’t enjoy living there!) and watched other areas grow like crazy!

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Perry13579 · 20/06/2023 08:22

I'd be looking at Tottenham N15 if I wanted an investment. The hipsters are moving in. Would I want to live there though? Not sure.

Original poster
Wheretooo · 20/06/2023 11:14

I’m not sure I want to live in Tottenham! But I do want something that’s going to get better, I need to make a logical move rather than a smart one.

Do you think Tottenham over Finsbury Park or east London along the Elizabeth line?

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longestlurkerever · 20/06/2023 11:16

South Tottenham is absolutely fine.

Reugny · 20/06/2023 11:20

You need to talk to friends and acquaintances who live in London, then go and visit them. Hopefully they will take you to places the local places they hang out in.

Then buy in an area you like living in.

Unless you are completely weird, areas that you like should be liked by other people.

browneyedgirl626 · 20/06/2023 11:26

Leyton is dire, I've just moved out of there and I'm so glad I did. Nothing but chicken shops and no nice places to walk

Original poster
Wheretooo · 20/06/2023 11:29

I live in London now and do know it well, but I live somewhere I like rather than somewhere that would also be a good investment, if you see what I mean. (Lovely leafy north London.)

I have previously bought for investment (and lived there) and it didn’t work as well as it could and I didn’t like the area, and I have bought in an area I liked (again, and lived there), as opposed to another area that someone advised, and my money would have done much better in the other area! So keen to make a better financial choice rather than a preference choice this time.

I don’t know - maybe I’m putting too much on it. But house price drops etc are making me nervous for the long term! I’m currently renting after selling in the peak, my onward purchase fell through but I went into rented so I could keep the sale, so now I’m over thinking the whole thing.

Lots of other people I know in London made smart moves and I seem to be fairly incapable of smart money moves!

I don’t particularly like Tottenham, I do prefer east London, but perhaps that’s where I should be putting my cash! I didn’t believe anyone when I was a kid who said King’s Cross would one day be nice!

Maybe a smarter move would be to do nothing right now?! I have no idea. Renting is expensive but my mortgage payments would be more.

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Original poster
Wheretooo · 20/06/2023 11:30

Basically I think i’m asking where would be a safe bet for around £800k and where might be a clever bet.

I do know that might be an impossible question!

Also would a period property be better than modern in the long term? (Service charge / leasehold etc.)

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pendleflyer · 20/06/2023 11:32

Reugny · 20/06/2023 11:20

You need to talk to friends and acquaintances who live in London, then go and visit them. Hopefully they will take you to places the local places they hang out in.

Then buy in an area you like living in.

Unless you are completely weird, areas that you like should be liked by other people.

>>Unless you are completely weird, areas that you like should be liked by other people.
surely if you want to make money from something (presumably willing to keep for a fair few years) you have to be ahead of the curve, ie buy in an area that most people think a bit shit?
This has of course happened to a fair few/many areas in London within living memory.
Thing is, am not sure if there are really any areas left in London that can go through this shift.

Draconis · 20/06/2023 11:33

If you like wanstead then the Woodford area is quite nice too and a bit more affordable.

pendleflyer · 20/06/2023 11:35

oh, am no expert but I would avoid the supposedly trendy flats that have been built in the last few years.

Original poster
Wheretooo · 20/06/2023 21:59

I’ll check out Woodford!

But perhaps I’m second guessing something that can’t be second guessed and should just enjoy where I live?! It’s so worrying with prices being really unsettled!

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mobear · 20/06/2023 22:13

Definitely a period property over a new build. Much safer bet, especially in this economy.

NeverendingCircus · 20/06/2023 22:22

I've seen a few properties around that price in Richmond/Twickenham which is a lovely place to live. I'd look there, personally. It's safe, green, arty. Lots of 3-bed semis and terraced houses with OSP.

Original poster
Wheretooo · 20/06/2023 22:23

NeverendingCircus · 20/06/2023 22:22

I've seen a few properties around that price in Richmond/Twickenham which is a lovely place to live. I'd look there, personally. It's safe, green, arty. Lots of 3-bed semis and terraced houses with OSP.

Oh wow never thought my budget would go far over there! I’ll check out Rightmove…

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