Reply to: What can I buy in London for £150K?

[DimPrawn]

Ja, aber für how much can I rent the parking space pcm?

If I could match the rent of the flat with a parking space I'd do it, fed up maintaining a flat.

Probably a lot, but some Chav will park in it so you'll need a team of clampers nearby.

[scooterscot]

WHS.

Assuming OP means central London, £150K is a parking space at best.

Ja, aber für how much can I rent the parking space pcm?

If I could match the rent of the flat with a parking space I'd do it, fed up maintaining a flat.

[doodab]

Doesn't compare well to a £90/month travelcard from zone 3 though. That's a lot of money one can spend on accommodation instead.

[ChimpMaster]

Parking at Ebbsfleet is expensive and the high speed train tickets are expensive as well. Plenty of villages around Ebbsfleet but I doubt you could get a proper house for 150K in any of them villages. Standard two bed mid terrace sell for about 150K. Gravesend might have cheaper houses but it is a dump.

Train tickets are around £30 return daily, but time is money eh. For cheaper fares, you can go from Greenhithe (Blue Water) to Cannon Street in around 50 minutes for about £15 return I think , which is pretty much what I pay for from towards West London.

[fullyautomatix]

WHS.

Assuming OP means central London, £150K is a parking space at best.

Forget London, anywhere in South East England, 150K would get a two bed terraces house at best. Years of MEW has left prices sky high and the sellers are not willing to sell lower and end up in debt. There is a stalemate and as long as the cushy public sector workers are still having their clock in clock out 9 to 5 jobs the prices will remain inflated.

[doodab]

That's what I feared. Perhaps I will stay in my posh bit of London and work harder.

[fullyautomatix]

I was more thinking of moving out of London to a bigger place. I've been looking down the A3 (basingstoke, winchester etc) as well, but 15 mins into kings cross sounds very appealing.

Parking at Ebbsfleet is expensive and the high speed train tickets are expensive as well. Plenty of villages around Ebbsfleet but I doubt you could get a proper house for 150K in any of them villages. Standard two bed mid terrace sell for about 150K. Gravesend might have cheaper houses but it is a dump.

[doodab]

For £150k I wouldn't expect much. It's not going to be a leafy suburb of London aka Notting Hill style. But you won't be living there yourself, and will get a very rentable property with potential future growth.

Of course, you've got to do your own analysis and buy in the right areas, but the opportunity is there.

I was more thinking of moving out of London to a bigger place. I've been looking down the A3 (basingstoke, winchester etc) as well, but 15 mins into kings cross sounds very appealing.

[DimPrawn]

£150K in London

Good one

WHS.

Assuming OP means central London, £150K is a parking space at best.

[ChimpMaster]

Good tip. I will look into that. What is the area like?

For £150k I wouldn't expect much. It's not going to be a leafy suburb of London aka Notting Hill style. But you won't be living there yourself, and will get a very rentable property with potential future growth.

Of course, you've got to do your own analysis and buy in the right areas, but the opportunity is there.

[doodab]

There's a potentially huge market going somewhat unnoticed yet. The new Ebbsfleet station in Kent, which was built as a major hub for the Eurostar, has fantastic connectivity to London via a fast (15 minute) train to Kings Cross. This opens up a whole new commuter belt opportunity, with associated rental and house price rises.

I've already got a place out there - you can pick up a 3 bed terrace for ~£150k and get £700/month for it. Prices do vary, as with any region, and I've seen 3 beds going from £130k up to £180k. In any case the return is reasonable but the main reason is to look towards the future growth of commuters. Blue Water is only 5 minutes away too.

Good tip. I will look into that. What is the area like?

[sasguru]

£150K in London

Good one

[ChimpMaster]

There's a potentially huge market going somewhat unnoticed yet. The new Ebbsfleet station in Kent, which was built as a major hub for the Eurostar, has fantastic connectivity to London via a fast (15 minute) train to Kings Cross. This opens up a whole new commuter belt opportunity, with associated rental and house price rises.

I've already got a place out there - you can pick up a 3 bed terrace for ~£150k and get £700/month for it. Prices do vary, as with any region, and I've seen 3 beds going from £130k up to £180k. In any case the return is reasonable but the main reason is to look towards the future growth of commuters. Blue Water is only 5 minutes away too.

[DeludedAussie]

Judging on the variance between guide and actual process in A&R I am quite sure it wont sell for a lot more

Time will tell - I reckon this will go for 120K tops and for 3 bed place in Zone 2 near Stratford that aint bad at all

Just checked and I know why this is in auction - It has a 74 year lease and therefore cannot be mortgaged

If it was 75+ year lease this would have sold privately

Seller probably does not have funds to cover lease extension but if you are cash buyer you are laughing

[DeludedAussie]

Precisely why auction houses set low guide prices - to reel in mugs like you.

Judging on the variance between guide and actual process in A&R I am quite sure it wont sell for a lot more

Time will tell - I reckon this will go for 120K tops and for 3 bed place in Zone 2 near Stratford that aint bad at all