1 bed centrally vs 2 bed further out

[exsemphina]

DP and I are first time buyers in London. We have a budget of roughly £600k, but in principal, could borrow up to around £1.2mil, but want a small mortgage vs income.

Do you think it’s better to get a 1 bed flat in a posh central area or a 2 bed flat further out in a less nice area.

I.e. a one bed in Notting Hill or a two bed in Queens Park

Get a three bed house for 1.2M in zone 2/3. Thank me later.

A two-bedroom Queens Park apartment is a good option for starting a family later. Do you think your earning power will significantly increase over time? This would allow you to jump from a one-bedroom apartment in Notting Hill to a two-bedroom apartment in the same area. If so, I'd go more central every single time

Get a 3 bed in Maida Vale!

I think, with that budget, you'd be absolutely mad to get a 1 bed. Do either of you never work from home or have people to stay? Are you planning on ttc at any point? A second bedroom gives you so many extra options just in case - you never know what the future brings and you might not want to be suddenly having to look for another place due to a change in circumstances. Personally I would be going for a 3/4 bed house so I'd never have to move again but if you do want a flat, definitely get a 2 bed.

Two bed will give you more flexibility for a longer period of time eg having your first baby if you decide to have kids - I’ve lived/live in some of the areas mentioned above and honestly it is just not worth paying for a postcode. Queens Park gets you into centre of town super quick and has a lovely atmosphere - you can go central, west or north really easily. And don’t have to deal with the Notting Hill Carnival on your doorstep.

So you can live centrally without being posh and get nore bang for your buck ! Do you especially want to live in an area like that ? Where do you work ?
For example, you can live in Zone 2 and get a 2 bed for that budget that is literally a short commute to the City. My Dsis recently bought a 2 bed flat in Islington for substantially less than that and it's a 10 min train to Moorgate.

What @Papricat said

When we were ftb we bought a 2 bed flat in zone 1 which was perfect for us - a walking commute, walkable to all the shops and restaurants we wanted, and a huge variety of culture on our doorstep, and easy to get to all areas of London and beyond. Personally I'd go for the best part of zone 1 that suits your commute, but up the budget for a 2 bed. You will be able to negotiate hard in the current market.

Wr have moved out to zone 2 for schools but life is quieter and less buzzy here, and although it's easy to get into central on the tube, it's not as easy as the simple stroll from our old flat.

Move up north and get a mansion!

Jokes aside, get a three bed further out, might mean more travel, but allows more flexibility, prevents you having to move again should your family grow, you'll likely get a garden and these areas will only increase in value.

Best of luck with your search. X

I'd always get a freehold rather than leasehold
It'll appreciate faster

Exactly that.