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spindrift
Tenderloin
So here's one to those who've been there and done it.
I had planned to buy a 2/3 bed house in Leyton/Leytonstone area - I thought I would have 500k to spend, turns out this will be 475k tops. Which looking at current prices just doesn't look enough for a house in these areas (and having enough left to fix it up). The reason I'd been keen on a house was to add a bedroom in the loft and then look to sell it when the Crossrail came in as a nice family home.
In 3-4 years I should have an equity event that might help us with a place to be buy to let. The idea being that if we needed to have maternity leave etc there would be extra revenue streams.
I'm now thinking a flat where we can add an extension/conversion might be a better option right now, as the standard seems to be a little higher and they fall well within our budget in the areas we would like to live in. We can well afford the mortgage at 475k so I'm tempted to go for it but I wanted to ask the collective wisdom on 'ere.
tl;dr any help please wiv houses