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Buying a House in Brighton - Possible/Sensible?



StonehamPark

StonehamPark

#Brighton-Nil
Oct 30, 2010
9,773
BC, Canada
Really new to this subject and have been looking at houses and prices around Brighton for the past few months.

With house prices so high in the area, is there much sense in a younger person/couple looking to buy in Brighton?

House prices in the areas we are looking at are approx £250,000 - £275,000.
We are a couple on approx £40,000 - £45,000 (combined) so we have no idea if we're financially ready/able to buy.

Her family are based in Gloucestershire, mine in Brighton.
We can get the same sized property up there for approx £175,000 but obviously the work (£££) is all down here.

What's best?
 




Westdene Seagull

Westdene Seagull

aka Cap'n Carl Firecrotch
NSC Patron
Oct 27, 2003
20,994
The arse end of Hangleton
StonehamPark said:
Really new to this subject and have been looking at houses and prices around Brighton for the past few months.

With house prices so high in the area, is there much sense in a younger person/couple looking to buy in Brighton?

House prices in the areas we are looking at are approx £250,000 - £275,000.
We are a couple on approx £40,000 - £45,000 (combined) so we have no idea if we're financially ready/able to buy.

Her family are based in Gloucestershire, mine in Brighton.
We can get the same sized property up there for approx £175,000 but obviously the work (£££) is all down here.

What's best?
Click to expand...

Sadly, I doubt you'll even get a mortgage to cover £250k. You'll be able to borrow around £160k ( depending on your outgoings ) meaning you'll need to find a £90k+ deposit before you even think about legal fees and stamp duty.
 


BHAFC_Pandapops

BHAFC_Pandapops

Citation Needed
Feb 16, 2011
2,844
Move up North, noticeably more bang for your buck. Plenty of new developments going up. With the BBC's move to Media City UK, areas people think were absolute toss have sprung up quite quick. A lot of the old mill buildings are being turned into nice flats, new houses are going up all over the place.

The getting's very good. Also, if it goes ahead, HS2 will have a spanking new hub at Manchester Piccadilly. It's nearer to Gloucestershire than it is to Brighton (obv.) but transport is great and you're 1-2 hours from any major city. Loads of away games nearby too, Blackburn, Bolton, Sheffield, Birmingham etc.
 


Notters

Notters

Well-known member
Oct 20, 2003
24,869
Guiseley
Unlikely except perhaps if you have a huge deposit. You'll only get a very small house for that dosh in Brighton too.

We've just bought a place in Newhaven (for the price of a 1 bed flat in Brighton) and absolutely love it.

Feel free to PM me if you want any more info as it sounds like you're in pretty much the same position that we were.

I know people will say either "yeah but it's a dump" and "it's not in Brighton"... and I would've agreed with both those points before I moved there but would probably dispute them now. OK obviously it isn't in Brighton, but it actually seems to be quicker to get to a lot of places in Brighton from Newhaven, strangely, than it did from Fiveways. E.g. to get to my friend's place in Hove Park always used to take 20 minutes from Fiveways, primarily due to the number of traffic lights, but from Newhaven there are no traffic lights and it's doable in 15 minutes, off-peak.
 
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BN9 BHA

BN9 BHA

DOCKERS
NSC Patron
Jul 14, 2013
21,522
Newhaven
Notters said:
Unlikely except perhaps if you have a huge deposit. You'll only get a very small house for that dosh in Brighton too.

We've just bought a place in Newhaven (for the price of a 1 bed flat in Brighton) and absolutely love it.

Feel free to PM me if you want any more info as it sounds like you're in pretty much the same position that we were.

I know people will say either "yeah but it's a dump" and "it's not in Brighton"... and I would've agreed with both those points before I moved there but would probably dispute them now. OK obviously it isn't in Brighton, but it actually seems to be quicker to get to a lot of places in Brighton from Newhaven, strangely, than it did from Fiveways. E.g. to get to my friend's place in Hove Park always used to take 20 minutes from Fiveways, primarily due to the number of traffic lights, but from Newhaven there are no traffic lights and it's doable in 15 minutes, off-peak.
Click to expand...

The bridge got stuck again today :rant::censored::annoyed: that's another hour of my life spent sitting in my van going nowhere.
 




Uncle Spielberg

Uncle Spielberg

Well-known member
NSC Patron
Jul 6, 2003
42,809
Lancing
Some lenders will do 4.5 x joint incomes at 90%. It is down to affordability and dependents and credit commitments. All I can say to people who want to buy or re mortgage is do not have any children ! PM for help
 




pasty

pasty

A different kind of pasty
Jul 5, 2003
30,259
West, West, West Sussex
I feel quite sorry for young people who want to buy in Brighton, as they pretty much can't. A case in point, my 22 year old step-daughter who has lived in Brighton all her life has had to move to Horsham to buy a place with her boyfriend. Even though they are both in full time employment, they could probably have only just afforded a shed in Brighton, but got a very nice 2 bed flat in Horsham.
 




StonehamPark

StonehamPark

#Brighton-Nil
Oct 30, 2010
9,773
BC, Canada
Notters said:
Unlikely except perhaps if you have a huge deposit. You'll only get a very small house for that dosh in Brighton too.

We've just bought a place in Newhaven (for the price of a 1 bed flat in Brighton) and absolutely love it.

Feel free to PM me if you want any more info as it sounds like you're in pretty much the same position that we were.

I know people will say either "yeah but it's a dump" and "it's not in Brighton"... and I would've agreed with both those points before I moved there but would probably dispute them now. OK obviously it isn't in Brighton, but it actually seems to be quicker to get to a lot of places in Brighton from Newhaven, strangely, than it did from Fiveways. E.g. to get to my friend's place in Hove Park always used to take 20 minutes from Fiveways, primarily due to the number of traffic lights, but from Newhaven there are no traffic lights and it's doable in 15 minutes, off-peak.
Click to expand...

Uncle Spielberg said:
Some lenders will do 4.5 x joint incomes at 90%. It is down to affordability and dependents and credit commitments. All I can say to people who want to buy or re mortgage is do not have any children ! PM for help
Click to expand...

Thanks everyone for tips so far. NSC always useful when you need it to be!

I'm very happy to move within a 10 mile radius of Brighton (bar the Channel) if we can get more for our money.
Luckily no kids (yet), both have great credit ratings and low credit outgoings.

I might PM you guys closer to the time once we've got a few ideas etc. Thanks v much 
 


Tom Hark Preston Park

Tom Hark Preston Park

Will Post For Cash
Jul 6, 2003
70,138
StonehamPark said:
Thanks everyone for tips so far. NSC always useful when you need it to be!

I'm very happy to move within a 10 mile radius of Brighton (bar the Channel) if we can get more for our money.
Luckily no kids (yet), both have great credit ratings and low credit outgoings.

I might PM you guys closer to the time once we've got a few ideas etc. Thanks v much 
Click to expand...

If I could live anywhere within a 10 mile radius of Brighton, I'd definitely look to move to Shoreham. It's a proper town with both sea and river on your doorstep and small town quirky shop/pub appeal. Maybe within budget if you consider options not directly on the waterfront? Good luck.
 


Herr Tubthumper

Herr Tubthumper

Well-known member
NSC Patron
Jul 11, 2003
59,467
The Fatherland
pasty said:
I feel quite sorry for young people who want to buy in Brighton, as they pretty much can't. A case in point, my 22 year old step-daughter who has lived in Brighton all her life has had to move to Horsham to buy a place with her boyfriend. Even though they are both in full time employment, they could probably have only just afforded a shed in Brighton, but got a very nice 2 bed flat in Horsham.
Click to expand...

Totally agree with this.
 




S

Soulman

New member
Oct 22, 2012
10,966
Sompting
Tom Hark said:
If I could live anywhere within a 10 mile radius of Brighton, I'd definitely look to move to Shoreham. It's a proper town with both sea and river on your doorstep and small town quirky shop/pub appeal. Maybe within budget if you consider options not directly on the waterfront? Good luck.
Click to expand...

Good call, Shoreham is nice.
 


Guinness Boy

Guinness Boy

Tofu eating wokerati
Helpful Moderator
NSC Patron
Jul 23, 2003
34,089
Up and Coming Sunny Portslade
StonehamPark said:
Thanks everyone for tips so far. NSC always useful when you need it to be!

I'm very happy to move within a 10 mile radius of Brighton (bar the Channel) if we can get more for our money.
Luckily no kids (yet), both have great credit ratings and low credit outgoings.

I might PM you guys closer to the time once we've got a few ideas etc. Thanks v much 
Click to expand...

Tom Hark said:
If I could live anywhere within a 10 mile radius of Brighton, I'd definitely look to move to Shoreham. It's a proper town with both sea and river on your doorstep and small town quirky shop/pub appeal. Maybe within budget if you consider options not directly on the waterfront? Good luck.
Click to expand...

You'll get a reasonable sized 2 or 3 bed with a garden in Portslade for your budget. It's very much on the up. The BN41 postcode used to put people off - indeed I've done Portslade jokes on here - but now it's well worth considering if you're planning on kids later on. You will get a school place in walking distance - not something guaranteed in West Hove now. There are parks nearby to most places North and South of the old Village and two really well run local youth football clubs.

Even if you're not planning on kids The Stanley is a decent local and The Schooner is a good grub and craft beer boozer. I know a couple of BHA lads who drink in The Albion & say that's ok too.

Best thing is the transport links though. From South Portslade you can be on the bypass in 10 mins and are a 10 min walk from a mainline station plus loads of buses in to town and good cycling along the seafront and more hilly stuff round Mile Oak & Hangleton.

I probably wouldn't have recommended the place 5 years ago but now I doubt I'll ever move.
 


surrey jim

surrey jim

Not in Surrey
Aug 2, 2005
18,092
Bevendean
Just an idea but when Mrs Surrey Jim and I purchased our first property we got one that needed work doing to it. After moving in and getting the bedrooms to an acceptable standard we got in a couple of lodgers, who paid (cash in hand) £750PCM. This meant over the next couple of years we were able to put money aside to pay down the mortgage at a faster rate and also do some work to updating the house.

I used [MENTION=3887]Uncle Spielberg[/MENTION] as mortgage broker and would 100% recommend his service.
 




V

Vegas Seagull

New member
Jul 10, 2009
7,782
Brighton & Hove have been in the top 10 areas for rises in the UK for any 10 year period in the past 20 odd years. Buy high, sell higher....
 




Notters

Notters

Well-known member
Oct 20, 2003
24,869
Guiseley
Tom Hark said:
If I could live anywhere within a 10 mile radius of Brighton, I'd definitely look to move to Shoreham. It's a proper town with both sea and river on your doorstep and small town quirky shop/pub appeal. Maybe within budget if you consider options not directly on the waterfront? Good luck.
Click to expand...

Soulman said:
Good call, Shoreham is nice.
Click to expand...
Shoreham is barely cheaper than Brighton or we probably would've moved there.

Guinness Boy said:
You'll get a reasonable sized 2 or 3 bed with a garden in Portslade for your budget. It's very much on the up. The BN41 postcode used to put people off - indeed I've done Portslade jokes on here - but now it's well worth considering if you're planning on kids later on. You will get a school place in walking distance - not something guaranteed in West Hove now. There are parks nearby to most places North and South of the old Village and two really well run local youth football clubs.

Even if you're not planning on kids The Stanley is a decent local and The Schooner is a good grub and craft beer boozer. I know a couple of BHA lads who drink in The Albion & say that's ok too.

Best thing is the transport links though. From South Portslade you can be on the bypass in 10 mins and are a 10 min walk from a mainline station plus loads of buses in to town and good cycling along the seafront and more hilly stuff round Mile Oak & Hangleton.

I probably wouldn't have recommended the place 5 years ago but now I doubt I'll ever move.
Click to expand...
No, it sounds like their budget is circa £200k. You may just be able to get a very small house in Portslade now for around £230k, probably that needs a hell of a lot spending on it.

surrey jim said:
Just an idea but when Mrs Surrey Jim and I purchased our first property we got one that needed work doing to it. After moving in and getting the bedrooms to an acceptable standard we got in a couple of lodgers, who paid (cash in hand) £750PCM. This meant over the next couple of years we were able to put money aside to pay down the mortgage at a faster rate and also do some work to updating the house.
Click to expand...

I think reasonable do-er uppers are pretty hard to come by now. We looked at about twenty houses and ended up buying the most expensive. Some that were around £10k less and roughly the same size needed FAR more than that spending on them, generally lacking central heating, double-glazing, etc. with crumbling brickwork and so on.

Even though ours is in good nick, it's amazing how much you end up spending on basic things like paint and decor.
 






S

SuperWill

New member
Feb 17, 2012
157
Hove
We have a combined income of about 50k. Bought in Shoreham just before Christmas, flat on the river side of the beach, for under 200k. Had never considered Shoreham before but when we were looking found the equivalent in Brighton/Hove near the station to be at least 50k more. Love Shoreham now.
 




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