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When we bought we did a spreadsheet with ‘average’ houses in different areas to see what the price diff was between diff zones of Leyton and Walthamstow.
I think generally e17, closer to the tube was 100k more than for a similar property in e10, (on the LBR/church Rd corner of the ‘golden triangle’ mentioned upthread) but I suspect that might have narrowed over the last two years.
With £27,500 stamp duty on an 800k house and renovating at current prices, I suspect you will need to do more than cross LBR to end up with a significantly lower mortgage, unless you are looking to downsize as well.
cjr-
Yeah, it's downsizing as well. I didn't think we could release much cash just by crossing the rubicon aka LBR, any delta would get consumed by transaction costs.
I'm hoping that by going from a larger 5 bed (not a loft conversion) to a 3 bed (maybe do a loft conversion for 4th bed or buy a place where one has been done), plus crossing the rubicon, we can make it worthwhile financially and also end up in a place that's a bit easier to manage, and save a bit on running costs too.
And hopefully find that we end up in a really nice street with lovely neighbours so I don't end up regretting the whole thing, but obviously that's veering off into fantasy.
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When I bought, I discovered that you could download Land Registry sold prices for whole postcodes. I had way more price data than the estate agents who certainly seemed to favour a finger in the air approach.
ChasnotRobert
aggi
Thanks both, will add survey to list.
If we go straight from place a to place b, I'll likely stick with current lender so won't need a mortgage broker. If we do a rental in the middle then could be useful.
@frankohara if we get towards needing surveyor and solicitor, I'll DM re recommendations.
At the moment it's firmly in the proof of concept stage and I have to say, the concept isn't quite there yet based on what I can find on rightmove etc.