Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

First Time Buyers: Buy now or Wait for better area

2 replies

grapefruitsquashe · 19/06/2024 21:19

We are in the fortunate position that we can afford to buy in London as first time buyers. We have saved the deposit ourselves, we are mid-late 20s.

Option A) Buy now in a relatively central area in Zone2/3. Get a two bedroom flat for about £500k.

Option B) Save and buy in two-three years time. Get a two bedroom flat in Zone 1 for £800k.

I think we should just get on the ladder and if we want to spend more in a few years time we can move more centrally. DP thinks that buying further out means we'll never get the chance to settle in Zone 1.

OP posts:
SleepingMermaid · 19/06/2024 22:06

Will you be able to save/borrow an additional 300k? Are you expecting your incomes to increase?

I'd be inclined to get on the ladder in your situation.

grapefruitsquashe · 19/06/2024 22:11

Yes - pretty sure our salaries will go up enough to allow for the extra borrowing.

DP is concerned about wasting money on moving and on stamp duty/legal fees

OP posts:
New posts on this thread. Refresh page