What would you do in our situation - property dilemma

[HolyParc]

Don’t want to write a never ending post so will just summarise it all in a few bullet points:

• First time buyers, almost 40yo
• Jobs in London, currently live in SW London suburbs, renting a flat
• Want to buy a property, only have 10% deposit and can afford around £500K-£520K max
• Current area is lovely and fits our lifestyle vey well: great commute, many amenities, pretty, safe, nice schools etc but very £££, can only afford a flat or maisonette
• We have 1 DC in pre school, not planning more although accidents can happen
• If we moved further out, we might have a longer commute and less amenities but would be able to buy a house
• We’d really love a garden and the idea of not having any outside space for the long term is a bit upsetting, however, I don’t know whether I am just being a bit extreme about it?
• I don’t drive, am used to living somewhere with lots of amenities and be able to walk everywhere
• House buying timelines would potentially be an issue in terms of school applications as even if we moved, we wouldn’t likely be able to be in the new house on time for school applications, which means we could potentially end in a not so great school or somewhere far from home (which would be an issue given the fact that we both commute and I don’t drive as I said)
• Salaries will increase but given our age and jobs we are not going to be able to massively increase our mortgage in a few years so unlikely to be able to stay in current area and upgrade later on

I honestly don’t know what to do. I seem to want it all but our budget doesn’t allow us to ☹ Areas outside of London we are considering are Weybridge (very expensive), Walton on Thames (some houses are quite far from the station or the shops), Hersham (not a big fan of the area, seems a bit dull but cheaper).
Guildford is too far and commute too expensive, we considered Epsom but we don’t like it.

I'd be tempted to stay where you are and get the flat. Outside space is nice, but it's not everything, it sounds like you have everything else that you want on your doorstep.

Who knows what will happen in the future, you might be able to move again.

Have you considered Woking? It’s on the same train line as WOT and there are fast trains, as well as stopping trains, so your commute could even be shorter. The Horsell area is walkable to the station and you’d get a house with outside space for £500k.

Can you afford a 2 bed flat in your current location with a little outside space?

If so, I would stay in the area you love and be very careful not to have any accidents!

If you can only afford a 1 bed, I think you should move further out.

I would move further out, try to get a house with garden and learn to drive.

We were in your position when we bought, also in SW London suburbs, and we went for a 2-bed flat in a well-maintained purpose-built block with nice gardens. That was great for 5 years. at which point we had enough equity to move to a 3-bed house. Our old flat is on the market right now for £520k! It was a brilliant place to live.

Thanks to those who commented so far. In answer to the above:

• We don't like Woking so wouldn't consider
• yes we could afford a 2 bed flat/maisonette
• not a fan of garden flats are they are generally lower ground
• we'd like to have pets, likely a cat, which could be an issue in a leasehold property

@HerculesMulligan the thing is though that given our age and jobs we won't be able to upgrade to a much more expensive property in a few years time. I wouldn't want to increase an already massive mortgage in my late 40s. Houses here start at around £600K for 2 bed :(

Your current location sounds perfect. A garden isn’t all it’s cracked up to be, especially if you’re in an area with lots of parks or other outside space. Is there the option of looking at ground floor or ‘garden’ flats which might have a bit of outside space?

I would be looking at 2 beds in your local area then @HolyParc

I agree garden flats tend to be lower ground which I wouldn't like either but maybe just keep looking until you find a proper ground floor flat you like. A cat could indeed be an issue in a leasehold property but there are always compromises, especially in London.

@Twiglets1 I am willing to compromise on space but having pets is really something very important to us so I wouldn't choose a flat over a house if that meant we couldn't have a cat (appreciate it sounds silly to some!)

Whereabouts in SW London are you now? You seem to be looking much further out but we live in the little triangle between Colliers Wood / Mitcham / Tooting borders and 3bed houses on a road v near to us sold for 450k in the last few months so well within your budget. If you were happy to stay in a flat / maisonette but with a garden etc, i think you'd be able to get that in Colliers Wood / Streatham / Furzedown etc for around 500k? Maybe less if something has been sitting around for a while?

Do you have easy access to green spaces (parks and playgrounds etc) in your preferred area? I live in a very desirable part of my city and I love how close we are to everything we need and I love our house. Only thing I would change is that we have a pretty small garden. But we are close to several parks and a nice big playground that is very popular with all the local families so overall I think that’s an ok compromise because my daughter has plenty of opportunities to play outside.

If I were you I would probably stay in my preferred area, preferably somewhere close to some nice outside space.

It doesn't sound silly @HolyParc but are you willing to potentially move to a different area to get a house so you can have a cat?

We all have priorities and it's just a case of really thinking about which ones are most important to you & your partner. Maybe a spreadsheet? Put them in order so you are clear which ones are most important to you.

I think live as centrally as you can. I found that when I lived in central London with my kids they always had other kids to play with. We just went to one of the many parks in our area and they would find someone. We then moved to a very family oriented suburb in a different part of the country and all of the spontanous playing ended. You then had to arrange and plan every little interaction and it meant a lot less playing time for the kids. Also all the parents had long commutes so there was less time to play.

If I had an only child I really would prefer to live in a more dynamic and central setting rather than suburbia.

@Snoken we actually live in a Suburban area of London already but with plenty of amenities near us.

The garden thing is mostly for DH and mine's benefit as I know DC can happily play in a park. I love the idea of having our little outside space (event just a small patio) to have coffee/dinner outside and I love plants and gardening too. The thought of having a small gardens fills me with so much joy, it would be hard to give up on it for years and years to come.

@HolyParc I guess you are already in a suburb, but a London suburb is still a lot more alive than further out on the commuter belt. I think you should see what you can find that has a little bit of outside space, maybe a terrass or a small garden. Having bedrooms on a lower ground floor isn't actually that bad if it's a well built house and the windows are large. It's usually quiet and cool in the summers which is a plus.

The only reason you want to move is a garden but that doesn’t seem to outweigh the benefits of staying where you are. I’d buy a flat and be more conscious about spending time outdoors or get an allotment etc rather than moving away from an area you love. Your priorities might change in a few years at which point you can move.

How about Whitton? You could get a nice 2/3 bed house in budget, trains are good and it has a busy high street. Good schools too when the time come.

Gardens are great when children are young. They can play out there whilst you do quick jobs indoors, whilst you're cooking, etc. and as you say, you can grab a coffee and sit out there or have lunch. Children can have a paddling pool or play tent and do a bit of gardening with you. So much easier than having to go out and take whatever you need to eat/drink with you.

It's when they are older that a central flat would be more suitable. They can go to the park independently with friends, everything they need is within walking distance and public transport readily available to get further afield.

I would always go for house with a garden when young and consider more central city living when older.

how about a 2 bed flat with a balcony? having a bit of space to sit out and have some plants makes a big difference, but it doesn't need to be a full garden.

Get somewhere with a garden. I love my garden, I love growing things, sitting out in my dressing gown with a morning coffee, doing bbqs having friends over, my kid’s friends playing out there, watching the things Ive planted sprout as the seasons change, listening to the birds, watching the bats fly over (and I’m in a big city not the countryside). Go for a garden - I think you might regret it if you don’t.

My suggestion is probably different from most people's. Would you consider renting for a few more years?
I would stay exactly where you are, enjoy being in the area that you have settled into, and work hard to build up your deposit savings.
Reassess in a few years when your child is further into primary school and you know for certain whether there is a second child in the scene or not.
If you wait a few more years, then choose an area based on which secondary school you want, your child will be well settled into that area/new home before the time comes for moving up to secondary school.

I could have written your post 19 years ago..!

We had bought a flat in Earlsfield, then when we had our first child, decided we wanted more space so looked at Horsham, Godalming, Guildford, Walton, Hersham, Winchester etc etc, but ended up moving to Epsom/Ewell because we got a three bed house with a garden - but I HATED it. We then moved quickly to Tunbridge Wells. The commute is expensive, but you could have something like this..right on the Common 134569973 - the commute from Tonbridge is cheaper than from TW - and you would be in catchment for the excellent local primary.....

@Panicmode1 thanks for this - why did you hate Epsom/Ewell if I can ask?

All our friends and some family are in Surrey/London borders so we really want to stay within an area we are familiar with and not too isolated from all our support network

@TaigaSno we are already in our 40s and would need a very expensive mortgage, I wouldn't wait another 6 years before buying I'm afraid