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Would you buy this house ?

Discussion in 'General Discussion' started by MehulLakhani, May 20, 2010.

  1. sunama


    Joined: Oct 18, 2002

    Posts: 15,968

    Location: NW London

    I can almost guarantee you that you won't be in the same job, in the same location, in 35 years. Life has a habit of taking you in unexpected driections.

    This is the reason why commuting into London is important. Should you unexpectedly change jobs or maybe get offered a different post, in a Central London location, commuting into London has to be a consideration. Also, if you live in that place for the next 20 years and your kids get work in Central London, commuting would again be a consideration.

    If you buy a house within a surrounding area of London, you cannot discount the 'commuting to Central London' aspect. The resale value of your home will consider the ease of commuting to C.London.

    If you really like it, try putting in an offer that you feel is appropriate. You never know, the vendor may accept.
  2. Sawell

    Wise Guy

    Joined: Sep 7, 2005

    Posts: 1,701

    Location: Southampton

    4,847 thread views, 3MB file, better check your bandwidth :p

    With you being a doctor I can understand the need to be local, but I think you're being over-charged for the new build factor. Personally I think you're better off getting somewhere with its own character for a little less and making it your own home. For 850k you really should make your home ideal, not settle.
    Last edited: May 23, 2010
  3. dante6491


    Joined: Jun 30, 2006

    Posts: 5,879

    Location: London

    Ever thought of leaving your car at work during the week/on call period, then taking it home when you are off? Commute in most days then drive back and forth once a week or something. If you did that then you could probably go towards South London where it is a bit cheaper.
  4. kwerk

    Wise Guy

    Joined: May 23, 2009

    Posts: 5,748

    I thought mortgage rule of thumb is 2.5-3.0 x income?
  5. digipeep

    Wise Guy

    Joined: May 10, 2007

    Posts: 1,496

    It is, but a lot of newbie buyers rely on Mum and Dad or Grandma and Grandpa nowadays to get them on the ladder.
  6. Jez


    Joined: Oct 18, 2002

    Posts: 31,593

    I think it is fair to say that very very few substantial property purchases are mortgaged at anything even approaching the levels you seem to be imagining they are.
  7. sunama


    Joined: Oct 18, 2002

    Posts: 15,968

    Location: NW London

    That rule of thumb went out of the window over a decade ago.
  8. TFleming

    Wise Guy

    Joined: Feb 6, 2009

    Posts: 2,127

    Location: Redcar, Cleveland

    Lol wtf, 850k for that. Could get the same for 350k around here.


    Joined: Oct 18, 2002

    Posts: 17,934

    Location: Cambridge, UK

    Yeah about the same time that house price inflation went through the roof and the banks started lending more money than they should ;)

  10. Wicksta


    Joined: Sep 14, 2005

    Posts: 10,445

    Location: Burnham, Bucks

    Guys, I think we get the message now that in Bumble****, Yorkshire, Bradford or wherever you can get more for your money than in or around London. :D
  11. a1ex2001


    Joined: Mar 14, 2005

    Posts: 11,253

    Location: Here and There...

    Watford is a hell hole no way I'd want to buy a house there especially for that money and I'd certainly not want to live there for the next 35 years!
  12. Knubje


    Joined: Jun 5, 2008

    Posts: 6,234

    Location: Portsmouth/Fareham

    To echo others around here I wouldn't pay £850k for that place, regardless if I had help or money didn't even matter.

    As said the main things that would bother me:

    - £850k for a shared drive/no garage?
    - Main Road
    - Watford

    There are many surrounding areas of London that are nicer and similar in commuting distance where you will get more for your money. Places I am thinking of roughly: Hertford, St. Albans, etc.
  13. briwe


    Joined: May 22, 2010

    Posts: 6

    i wud