Looking To Buy In North London

[moonwhistle]

Apologies if this is the wrong forum, I didn't know where else to post.

I am a cash buyer looking to buy a house or flat in North London. I've got a maximum budget of 300k but might be able to squeeze a *little* more.

I currently rent in N4 and I've been looking around the area at properties for around 6 months. So far I've looked around the Harringey Green Lanes, the Ladder, Turnpike Lane, Hornsey and Crouch End. Mainly in the postcodes N4, N8, N15, N22 etc.

I'm really having trouble deciding whether I should go for a half house / flat in a better area or go a little east towards Tottenham (N15 / N22) and buy a freehold house.

I'm mainly attracted by victorian / period terraces and if a half house then the 1st floor rather than the ground floor. 2 Bed minimum.

I'm not necessarily looking to move into it immediately, I may rent it out for a year or two as I like my current renting arrangement.

I'm concerned about what areas will be a better / safer investment or what will produce better rental incomes.

I don't commute so access to the tube isn't a necessity.

I have looked at areas as expensive as Crouch End and as cheap as Wood Green.

More spefically the last house I looked at was in the Noel Park Conservation area where I viewed a comparitively huge property. The avenues up there are very attractive but I suspect the area might be very dodgy and crime ridden.

Any general advice would be greatly appreciated as I've only been living in London for a few years and still feel that I have little knowledge of the market and various areas.

Thank you in advance.

[Si1]

why don't you use your cash as a deposit on a little BTL portfolio?

[wheresitgoing]

I'm really having trouble deciding whether I should go for a half house / flat in a better area or go a little east towards Tottenham (N15 / N22) and buy a freehold house.

I'm concerned about what areas will be a better / safer investment or what will produce better rental incomes.

I have looked at areas as expensive as Crouch End and as cheap as Wood Green.

you need to decide what you long term is - if you want to live there, then it must be something that you like - all areas of London are unique and it is a question of finding where you fit in. If you want a BTL then you need to look at areas/area with optimal renting.

My observations over the years is that areas that are well established areas as good area take longer to go down (if at all) as its residents tend to be older and/or less at risk during downturns. Up and coming areas tend to boom during boom times but then fall back during recessions as its younger and/or more at risk residents.

The optimum with London is to Do your own research and find a corner just next to a prime area where there could be a bargain or perhaps an old persons house that has not been looked after.

I don't commute so access to the tube isn't a necessity.

If you are worried by investments, do consider that you will sell your place sometime to someone who could be worried about transport. General principle is that nearest a rail or tube station, the higher the price. Consider some stations are slow into city or west end and some are fast. also consider whether there is a good bus service that is fast to a station or tube as this is another possible to a bargain as I found a house that was not close to transport but did have a fast bus lane (so no traffice issues) to a main station.

[thejaksie]

why would you want to put all your cash in a london property if you don't even plan to live there necessarily

If you have you ear to the ground you should by now know the rental market is in freefall so BTL is risky. As an investment would you consider putting 100% of your savings in an illiquid market where all signs point to an unsustainable bubble.

If you live there you should buy what you love and where you can live for the next 10-20 years to sit out the stormy ride ahead of us