Long Term One Bedroom Flat?

[pinkpoonani]

DP and I live in a one bedroom flat in Central London. Zone 1. Amazing transport links. In the West End in 10 minutes. Love it.

We are thinking of purchasing a similar property. We have a decent deposit (£150k). Don’t want to waste more money on rent. Equally don’t want to have a big noose around our neck by over borrowing.

More space would be great but we don’t need more. We want flexibility to rent out the flat if we move overseas (quite likely).

Has anyone done this? We earn very very well but don’t want to be stuck in these jobs if we suddenly get fed up.

I did something similar to this but so many years ago (early 90s) that it's probably irrelevant. Moved from Maida Vale to the SW, and let the flat out for about 12 years. It paid off our present mortgage thanks to property appreciation/the Jubilee Line extension. Now I wish I had kept it for DS who would love to live in London but can't afford to. I took my well-paid work with me (freelance writer) so could work from anywhere, though I was always on the train to London for meetings.