How important is the area you live in
Discussion
Why the f
k do threads keep getting moved out of the lounge where they will get a diverse audience and into the niche forums where only the geeks hang out? If anything this was more about a philosophy of life than house prices, if people weren't interested it would have quickly dropped down the pages. Mods need to do something I suppose. :/
k do threads keep getting moved out of the lounge where they will get a diverse audience and into the niche forums where only the geeks hang out? If anything this was more about a philosophy of life than house prices, if people weren't interested it would have quickly dropped down the pages. Mods need to do something I suppose. :/More important now we have kids. 10 years ago I wouldn't have cared where I lived or how rough it was now we live by the coast the kids are on the beaches every other day, very low crime, safe for the kids to walk home from school on their own etc... the house could be better it could have more character but the area over rides it at the moment.
lucido grigio said:
TheInternet said:
languagetimothy said:
Riddle me this:
The area I live in south east London is ok
The train takes around 12 mins fast to London Bridge
I can get to Gatwick from the same station.
I also have trams and buses nearby
Where am I?
Struggling with this poser.The area I live in south east London is ok
The train takes around 12 mins fast to London Bridge
I can get to Gatwick from the same station.
I also have trams and buses nearby
Where am I?
Anerley ?
languagetimothy said:
lucido grigio said:
TheInternet said:
languagetimothy said:
Riddle me this:
The area I live in south east London is ok
The train takes around 12 mins fast to London Bridge
I can get to Gatwick from the same station.
I also have trams and buses nearby
Where am I?
Struggling with this poser.The area I live in south east London is ok
The train takes around 12 mins fast to London Bridge
I can get to Gatwick from the same station.
I also have trams and buses nearby
Where am I?
Anerley ?
Narrowed it down a bit.
ScotHill said:
We live in a £160k house with about £90k on the mortgage, earn £70k between us. We love the house, the area is perfectly safe (e.g. no drug dealers) but rough around the edges and not that well educated on the whole; the schools are fine for kids who pay attention and want to be there but plenty of opportunities for those kids to get distracted by tearaways and ne'er-do-wells.
We don't want to be slaves to a mortgage and plan on paying it off in 8 years time, before we reach our 50s, to have more money to do things and provide for the child(ren). Are we crazy to do this? Shouldn't we be getting the biggest mortgage we can and getting the benefit of higher house value later on in life? We could probably move to another 3-bed house in a better area for £250k+ but that's a huge chunk of money (including the extra interest) that could be spent on family holidays, hobbies, trips, toys, uni fees, pensions/ISAs etc.
For those that live in a rougher area than you'd like, particularly if you have children, how do you deal with it? Do you even think about it?
We are in a very similar position, numbers roughly the same too. We like the house and area, especially as both of us can walk to work/city centre. The primary schools seem OK, but the secondary schools aren't great - although we don't really need to worry about that for another 10 years.We don't want to be slaves to a mortgage and plan on paying it off in 8 years time, before we reach our 50s, to have more money to do things and provide for the child(ren). Are we crazy to do this? Shouldn't we be getting the biggest mortgage we can and getting the benefit of higher house value later on in life? We could probably move to another 3-bed house in a better area for £250k+ but that's a huge chunk of money (including the extra interest) that could be spent on family holidays, hobbies, trips, toys, uni fees, pensions/ISAs etc.
For those that live in a rougher area than you'd like, particularly if you have children, how do you deal with it? Do you even think about it?
To me it doesn't seem worth spending £100,000 to move to a slightly nicer house, in a slightly better area. If we're doing it, we're going to do it properly and would be looking for a 4/5 bed detached rather than the 3 bed terraced we're in now.
I was the opposite. Bought a house in a good area (15 mins on a bus to the city centre, pubs & restaurants in 10 mins walk, parks near by and good school) for 205k last year for a 3 bed semi with a garage and a big garden.
Took out a 30 year mortgage as i was only 25 when i bought it but plan on staying here for 20+ years and could extend into the loft if we wanted to. We felt that we'd stretch for a house in the area we wanted rather then go somewhere that was "ok"
Took out a 30 year mortgage as i was only 25 when i bought it but plan on staying here for 20+ years and could extend into the loft if we wanted to. We felt that we'd stretch for a house in the area we wanted rather then go somewhere that was "ok"
Question for the OP, if you are happy wiht your house otherise, would you consider sending your children to private school? Would seem like an obvious solution to your dilemma.
Just to add, we chose our house because it is in a nice village with good local schools. We did pay extra for the schools, but on balance thought it was worth the extra outlay.
Just to add, we chose our house because it is in a nice village with good local schools. We did pay extra for the schools, but on balance thought it was worth the extra outlay.
I think the main advantage of having low / no mortgage is the option to quit work or take a lower paid role, so if you like your jobs, they are reasonably secure and you are past a stay at home parent being useful why not go for it?
You'd be borrowing ~2.5x joint income to make the move, historically not too high. Even with a shortish term that is manageable at much higher interest rates than today unless you have expensive hobbies.
If circumstances significantly change you could always sell up and move back to current area, might cost you £15k in lost moving expenses / fees / taxes both ways, but if your probability of doing this is maybe 20% that's only £3k weighted.
You'd be borrowing ~2.5x joint income to make the move, historically not too high. Even with a shortish term that is manageable at much higher interest rates than today unless you have expensive hobbies.
If circumstances significantly change you could always sell up and move back to current area, might cost you £15k in lost moving expenses / fees / taxes both ways, but if your probability of doing this is maybe 20% that's only £3k weighted.
One element of how important the area is stems from whether or not you want to get involved in the community. Do you want to make friends with the other parents at your kids' school? Does your other half want to make friends at the local yoga class?
I grew up in Surrey and wanted to stay in Surrey when I bought my first place. Houses are depressingly overpriced but I chose an area with good schools and a nice community because that's important to me. I work in London so it's nice to come home in the evening and at the weekends to a rural village with a nice feel.
I grew up in Surrey and wanted to stay in Surrey when I bought my first place. Houses are depressingly overpriced but I chose an area with good schools and a nice community because that's important to me. I work in London so it's nice to come home in the evening and at the weekends to a rural village with a nice feel.
It depends what you think will happen to interest rates.
Borrowing is pretty cheap now compared to when it was double digit interest rates.
Your aspirations may change in a few years and like a lot of people (me included,) you may wish you'd sacrificed more to be able to downsize, bank the difference and retire early.
Obviously you don't want to be caught out by rising rates after committing to a bigger debt so it's a difficult decision.... but good luck.
Borrowing is pretty cheap now compared to when it was double digit interest rates.
Your aspirations may change in a few years and like a lot of people (me included,) you may wish you'd sacrificed more to be able to downsize, bank the difference and retire early.
Obviously you don't want to be caught out by rising rates after committing to a bigger debt so it's a difficult decision.... but good luck.
I'm 24 and only recently bought my first house and if it helps (I chose the area that I wanted it before the house.. that being I chose the area then searched for the best house I could in my price range in that area) - I can't comment much on the buying and interest side of things but I would like to give my opinion on the schooling side of things...
I'm a full time teacher and since I've been doing it (yes, only three years...) I've been fortunate to have been around a lot of different schools visiting departments etc. and the one thing that's always struck me is:
No matter where the school, there will ALWAYS be the 'rough' kids or the kids that don't want to work and play havoc in the class - ALWAYS! No matter if it's a nice area, private school or just your bog standard school. It's having support at home and being taught to have drive and determination to do well that will ultimately make pupils succeed. If the parents have taught the kids well to not let the others distract them - it wont happen. I see it every day. Ok, Parents might think that they get better 'classes' or less disruptive children when they go to a better school or pay for education but in reality I personally don't think it's true.
I went to what would be regarded as a 'rough' school in North Wales and has been slated by media etc for various things. But I (and a lot of my friends from the same year group) left with all our GCSE's A*-B and 4 A levels.. As with anything - school is what you make of it, I'd be concentrating more on making sure your kids get every opportunity to do their interests and hobbies outside of school, family days out and enrich their knowledge of stuff they're interested in.. If moving house/school to a nicer area meant that family holidays and chances of following hobbies were slim, I know what my decision would be.
Sorry for the long post, I hope it makes sense.. Dion.
I'm a full time teacher and since I've been doing it (yes, only three years...) I've been fortunate to have been around a lot of different schools visiting departments etc. and the one thing that's always struck me is:
No matter where the school, there will ALWAYS be the 'rough' kids or the kids that don't want to work and play havoc in the class - ALWAYS! No matter if it's a nice area, private school or just your bog standard school. It's having support at home and being taught to have drive and determination to do well that will ultimately make pupils succeed. If the parents have taught the kids well to not let the others distract them - it wont happen. I see it every day. Ok, Parents might think that they get better 'classes' or less disruptive children when they go to a better school or pay for education but in reality I personally don't think it's true.
I went to what would be regarded as a 'rough' school in North Wales and has been slated by media etc for various things. But I (and a lot of my friends from the same year group) left with all our GCSE's A*-B and 4 A levels.. As with anything - school is what you make of it, I'd be concentrating more on making sure your kids get every opportunity to do their interests and hobbies outside of school, family days out and enrich their knowledge of stuff they're interested in.. If moving house/school to a nicer area meant that family holidays and chances of following hobbies were slim, I know what my decision would be.
Sorry for the long post, I hope it makes sense.. Dion.
I've been a school governor for ten years and I'll echo what DionB says above...
Every educational setting has its share of high achievers, reaching age related expectation and plodders / SEND plus those with behavioural issues (and that just the school staff (only joking.
Each cohort (year group) of kids is different and the teaching staff have to adapt to wring the best out of them.
Support from home is far more important and as DionB says sets the scene for the educational and psyche development of the child.
So I too would rather live as cheaply as possible leaving as much disposable income as possible for life choices rather than being trapped in financial hell.
Every educational setting has its share of high achievers, reaching age related expectation and plodders / SEND plus those with behavioural issues (and that just the school staff (only joking.
Each cohort (year group) of kids is different and the teaching staff have to adapt to wring the best out of them.
Support from home is far more important and as DionB says sets the scene for the educational and psyche development of the child.
So I too would rather live as cheaply as possible leaving as much disposable income as possible for life choices rather than being trapped in financial hell.
limpsfield said:
Can someone make a market on when the PH wallet wavers will arrive?
Hi....love an online debate....
its completely relevant if A, you care, and B , you have the money to make your first choice..
primary residence is tax free capital gain, so in my opinion you'd be mad not to make use of it if you cared about being wealthy in the future.
ive done it house wise, but have had to cut back on cars, which i moan about literally every single day!!
I grew up in a big house. If I could, I'd be perfectly happy rattling around in a big pile and acres of garden.
But location takes priority right now. So I have an extended 1960s semi which can feel a bit claustrophobic for 5, but it's in a little, postcard pretty village. I get to open the back gate and walk straight out into open fields, the local schools are good enough, and transport routes are good enough to commute to nearby cities for work.
I could move into one of those nearby cities into a rougher area and find a 4 or 5 bed detached for a similar price, but then I wouldn't be where I am. I regularly remind myself when I go walking - hey I actually live here.
I couldn't go anywhere more remote without losing the ability to commute and having to move the kids, neither of whom cope well with change.
If we moved back down south, particularly to the general area where I grew up, we'd be squeezed into a 2 bed flat on the edge of somewhere rough. Or left having to move back in with the folks!
But location takes priority right now. So I have an extended 1960s semi which can feel a bit claustrophobic for 5, but it's in a little, postcard pretty village. I get to open the back gate and walk straight out into open fields, the local schools are good enough, and transport routes are good enough to commute to nearby cities for work.
I could move into one of those nearby cities into a rougher area and find a 4 or 5 bed detached for a similar price, but then I wouldn't be where I am. I regularly remind myself when I go walking - hey I actually live here.
I couldn't go anywhere more remote without losing the ability to commute and having to move the kids, neither of whom cope well with change.
If we moved back down south, particularly to the general area where I grew up, we'd be squeezed into a 2 bed flat on the edge of somewhere rough. Or left having to move back in with the folks!
Edited by oldbanger on Tuesday 21st March 13:21
I've always believed in buying the worst house in the best area rather then the best house in the worst area.
You can change the house but you can't change the area.
Alternatively buy a nice house in a bad area and hope the area comes up and prices follow.
I think the first is a better bet.
You can change the house but you can't change the area.
Alternatively buy a nice house in a bad area and hope the area comes up and prices follow.
I think the first is a better bet.
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