Rent and paying too much

[Deva Link]

vz-r_dave said:

Far from skint, I earn enough to pay the rent and not worry about cash flow however the gripe I have is exactly as stated above 2k in Putney is pricey and I could be living closer in the city or in a penthouse for the same price.

Thanks for the advice guys, I'll do better research on my next place.

I'm bemused by how someone who is obviously doing pretty well for themselves can come across as so naive on financial matters such as this?

[Carlton Banks]

Please tell me it is in Putney Wharf at least?

[okgo]

Carlton Banks said:

Please tell me it is in Putney Wharf at least?

I seriously doubt £2k gets you in there. The penthouse is or was on sale for many millions. I'd imagine a 1 bed in there would still be more than £2k.

[Carlton Banks]

Putney is too close to Wandsworth for me.

Putney doesn't have much going for it other than giving me a laaugh at the sheer number of estate agents that line the street near the mainline station.

Must be 10 or so?

[cheddar]

anonymous said:

[redacted]

Nail. Head.

[dvs_dave]

ZesPak said:

The only benefits I renting has imho is:

1. If you can't afford a place
2. To have the flexibility of moving out when something better comes up

If I'd have to pay £ 2000/month, I'd either want it to be mine or be able to get of there within 6 months.

Ultimately true but a somewhat shortsighted POV none the less. Given London property prices, how many people have the 20%-30% deposit required for a half decent mortgage just hanging around in this day and age? London salaries notwithstanding.

[vz-r_dave]

danyeates said:

Seems mad to me. I have a nice 3 bed, 3 bath house with conservatory, garage and driveway, on the coast in the New Forest, (so 2 hours from London) and my 85% mortgage is half that! I really can't understand London. I don't get the attraction, or the prices.

Also, what I really don't understand, is how average or below average income earners survive in London. How can they even afford the rent? My girlfriends family all live in London and I don't know how they do it!

But that's just it, I do get the attraction hence living and working here. As for prices of course they are high but that goes hand in hand with the wages and I am making a lot more here than I could anywhere else in the UK.

[vz-r_dave]

Deva Link said:

I'm bemused by how someone who is obviously doing pretty well for themselves can come across as so naive on financial matters such as this?

Why? I moved over from Germany and will likely be moving elsewhere in world within the next 12-18 months. What other option do I have financially?

Edited by vz-r_dave on Tuesday 27th March 22:13

[fido]

vz-r_dave said:

But that's just it, I do get the attraction hence living and working here. As for prices of course they are high but that goes hand in hand with the wages and I am making a lot more here than I could anywhere else in the UK.

But what have you got to do round there? Apart from Richmond Park (garden with deer), Wimbledon Common (garden), the River Thames (conservatory), a bus ride from Wimbledon (tennis, theatre) and Kingston (shopping centre), 20 mins to Waterloo. All your transport (car aside) covered for £1100 a year. You must be mad!! [sarcasm off]

[vz-r_dave]

fido said:

But what have you got to do round there? Apart from Richmond Park (garden with deer), Wimbledon Common (garden), the River Thames (conservatory), a bus ride from Wimbledon (tennis, theatre) and Kingston (shopping centre), 20 mins to Waterloo. All your transport (car aside) covered for £1100 a year. You must be mad!! [sarcasm off]

Fido it is like living in hell honestly, haha

[Soovy]

vz-r_dave said:

Hi Guy's

As some of you may know I moved into Putney in January, I live in a two bed, en suit, balcony in a new development. It is furnished.

I always though I might be paying a little more than I should and today within the main building I see a penthouse up for rent, same size but two balcony's. This is 50 more and is inclusive of council tax. It is part of the same development, built same year etc.

Obviously I am a little pissed, so what can I do? Are there any laws on this or is it my fault for not doing enough research? I understand that markets change but to me I have only been paying rent for two months so I see this price comparison as unreasonable.

Thanks

David

Sorry, your fault. You didn't drive a hard enough bargain!

[vz-r_dave]

Soovy said:

Sorry, your fault. You didn't drive a hard enough bargain!

Yeah learnt my lesson, renting is a different kettle of fish in Germany.

It's not that bad, it's a beautiful development, lots of green. Summer will be nice here and will possibly look to move closer to te city after the Olympics.

[paps]

OP, How long is your AST? Typically they are 6 or 12 months. If its six months then you don't have too long to wait, just stick your notice in and start looking/researching for your next place. Also worth looking to renegotiate with your current landlord. They typically don't want for the property to be empty at any point so may do a deal once your notice is in.
If its 12 months then look to see if a break clause has been included in the contract. If there isn't a break clause then obviously you are liable for the rent for the entire fixed term of the contract. Your only way out of the contract is likely to be to find a new tenant for the landlord who is willing to take on the property. Obviously the land lord needs to be happy with that arrangement and its likely to be a tough sell if there is a penthouse in the development for just £50 more.
Eitherway good luck.