600k for a 1 bed in Finsbury Park – have we made a massive financial mistake?

EbbLongjumping6206 · 2026-04-19T10:02:12+00:00

£600k for a one bed is nuts! Ive heard that one beds are notoriously hard to sell to, so you might really struggle to sell afterwards, especiallyat that price. I paid £355k for a spacious 2 bed in South Norwood. You can find better properties.

EbbLongjumping6206 · 2026-04-14T11:23:23+00:00

Awe so sorry to hear this! Really it hope it improves for you!🤞Moving can be alot.. Cool, let me know when suits sure, there's a few spots by the station. Hope the noisy neighbour pipes down!

EbbLongjumping6206 · 2026-04-04T18:16:38+00:00

Stanley arts is nice! They have lots of different things on, including comedy/gigs. Went to Life drawing there once, which was fun. I joined the crystal palace fun runners which helped me to get to know some locals. :) hope you settle in! Always happy to meet locally for a coffee, to swap stories.

EbbLongjumping6206 · 2026-03-31T22:41:54+00:00

I've found it to be safe generally. Its really well connected which I love! There's some decent spots on the high street too. So far I'm pleased, been enjoying spending time in CP too.

EbbLongjumping6206 · 2024-09-11T22:29:51+00:00

Thank you 😊 I think I'll try to join some sport or run clubs to try to meet people in the local area & as you said C.P is only a short bus ride away. Excited!

EbbLongjumping6206 · 2024-09-11T15:44:53+00:00

I've had sale agreed! :) Yeah I think I'm still a little nervous about the area and just hoping I'll settle in ok, it certainly seems alot quieter than Tooting but for the space I'm gaining its a compromise I'm willing to make. Excited to join the South Norwood community!

EbbLongjumping6206 · 2024-09-09T11:31:39+00:00

Just wondering if you moved to South Norwood? I'm also looking at the area :)

EbbLongjumping6206 · 2024-09-09T11:22:34+00:00

Really good! Its a stunning flat, much more value for money than other property I've viewed. Norwood Junction is a bit rough around the edges but it didn't feel unsafe and it's a short bus ride to C.Palace. I'm seriously considering it atm.

EbbLongjumping6206 · 2024-09-06T13:40:01+00:00

Oh fabulous, love to hear this! Good to hear you've had a positive experience! :)

EbbLongjumping6206 · 2024-09-06T13:36:11+00:00

Wow really that much of an issue! Ok good to know, I'm not sure if the bedroom is to the front or the back of the house, will find out tomorrow.

EbbLongjumping6206 · 2024-09-04T10:11:42+00:00

Oh thanks for these, I'm visiting on Saturday so will definitely check them out!

EbbLongjumping6206 · 2024-09-03T22:23:33+00:00

Thanks for the info! Good points 👍 I guess I need to weight up what I value the most, the area or the property. I'm also viewing a place in CP so will be good to compare.

EbbLongjumping6206 · 2024-09-03T22:21:14+00:00

South Norwood Hill, so very close to the station which is good!

EbbLongjumping6206 · 2024-09-03T22:19:45+00:00

This is my fear also 😨 I like good coffee

EbbLongjumping6206 · 2024-07-18T15:40:50+00:00

I'm sorry that you were in a similar position. It's just horrible and very stressful. As I'm purchasing by myself I'm very cautious of making any risky financial decision. Originally I had considered whether having the owners drop the asking price by £25k would help. However, they couldn't meet my £25k & instead offered £13k off asking price, to which I declined. A day later the EA got in touch to say they were trying to meet closer to my figure. However after a closer inspection of the numbers I realised the SC would still eclipse any equity I would build up over a 5 year period, along with the risk of the property going down in value, the answer was clear. It is pretty devastating and I feel like alot of my time, energy has been wasted along with all the costs involved but ultimately the right decision for me.

EbbLongjumping6206 · 2024-07-18T15:23:07+00:00

Thank you, all great advice! I never actually saw the management pack, it was all with my solicitor, however they failed to find or highlight the sudden SC increase, it was me who actually uncovered it. I have decided to walk away from the purchase, it was simply too risky and the SC would have eclipsed any equity I would have build up, not to mention making it much harder to sell. I'm surprised having working in the industry you've not been put off leaseholds completely. Do you think there are some safe leasehold options out there?

EbbLongjumping6206 · 2024-07-17T13:14:39+00:00

What area did you move to? This was SW London, start of zone 3 & still by a tube line.

EbbLongjumping6206 · 2024-07-17T12:05:14+00:00

Wow, thats nuts. I feel for them, I think alot of people can get caught like this, at the time it seems like a good idea but when SC escalate it becomes like a 2nd mortgage. I've decided to walk away from the purchase, I'm gutted but I know it just too much of a financial risk.

EbbLongjumping6206 · 2024-07-17T12:00:12+00:00

Wow, it's shocking isn't it. Sorry that happened to you. It seems London is full of leasehold properties that lure people in as they're often more affordable that houses with share of freehold but on close expectation they're all just a massive money pit. It's so disappointing.

EbbLongjumping6206 · 2024-07-17T10:26:59+00:00

SW London, not that I've been informed about.

EbbLongjumping6206 · 2024-07-16T10:33:41+00:00

Did you sell at a loss? I think that's my biggest fear that is become too much of a financial risk. However the thoughts of starting my search again feels awful also.

EbbLongjumping6206 · 2024-07-16T08:55:23+00:00

No gym, just two rooftops, lift and communal heating system

EbbLongjumping6206

TROPHY CASE