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London is contention zone for billionaires and millionaires buying up property left and right. What kid of property can you buy if you are a good software dev
by txdv 5y ago
London is contention zone for billionaires and millionaires buying up property left and right.
What kid of property can you buy if you are a good software dev working at FAANG?
- declnz 5y agoHow long have you been working there (deposits are a major factor in mortgages here)?
- txdv 5y agoI live in east Europe, work in IT and I am just trying to gauge how comfortable you can live with big tech money in London
- spuz 5y agoIf you have a partner on a similarly decent salary, then probably quite comfortably. If you are the only significant earner, then probably not that comfortably. I managed to buy a 2-bed flat in zone 2 in 2013 for £400k but it has no garden and has other downsides that I would have liked to avoid if I could have afforded more. You have to really be earning CEO levels of pay or buy with a partner in order to live really comfortably within zone 2.
- barrkel 5y agoWe own a 3 story 4 bedroom townhouse with garden and garage in Enfield, ~ 400k. Mortgage is about 1400 a month. The countryside is close by, both Hertfordshire and Essex. Housing is expensive in rough proportion to how central you are, and especially how close to tube stations you are. But it's also possible to live quite well. My commute would be a little over 1 hour each way by public transport, but I generally used a motorbike, closer to 35 minutes. We are however leaving, in large part due to Brexit. I'm Irish, my partner is German, and neither of us wants our son to be schooled in this country. The political situation is heading in an Orban-like direction, they're locking up EU citizens at the border and the anti-EU rhetoric from leadership and tabloids is relentless. I would not come here as an EU citizen. I quit my job and joined Google in part because they'll relocate me to Zurich.
- jokethrowaway 5y agoEnfield is a completely different ballpark than London. 500k is what I want to spend for housing as well and it would merely buy a sad flat in London. The cost of housing, the weather, the incoming tax hikes, progressive teachers and teenagers with knives are the reason I'm relocating somewhere else (Brexit didn't change much).
- cameronh90 5y agoEnfield is London. That said, for buying a house, I'm personally looking to one of the commuter towns. Somewhere like Woking, Basildon, Cheshunt... Maybe even out near Gatwick somewhere. I grew up next to an airport so I actually find the sound nice.
- barrkel 5y agoEnfield is in Greater London. It's 25 to 35 minutes by rail from central London depending on which service you use, if you're measuring station to station. It's physically closer than Croydon, Kingston upon Thames, Twickenham etc. It's connected by national rail, the Overground, and the Picadilly line in Chase Side. The biggest material impact of Brexit for me right now is the much greater difficulty in importing stuff, wine especially. But when we get back to international travel, the border will make more difference. Goods to declare, for one thing.