What I Own: We bought a two-bedroom ex-council property in Hackney for £400,000

Welcome backmost to What I Own – Metro’s spot bid wherever we talk to homeowners about getting connected the ladder.

This week, we’re successful East London, wherever 40-year-old James Barley and his 51-year-old spouse David ain a vibrant two-bedroom flat.

Since buying the spot successful 2019, they’ve dilatory made it their ain – and present it’s plants and partition prints galore.

Here’s what James had to accidental astir their spot situation…

Tell america astir yourself!

My name’s James: I’m 40, and enactment arsenic a elder PR publicist and content creator focusing connected men’s style, fittingness and interiors.

I unrecorded successful a two-bedroom ex-local authorization level with my partner, David, who’s 51 and a trainee psychotherapist successful his last year. We stock the level with 9-year-old French Bulldog, Buster.

Whereabouts is your property? What bash you deliberation of the area?

We unrecorded successful Hackney, adjacent to London Fields and Victoria Park. The country has everything we request connected our doorstep – large coffee shops, restaurants, parks and the canal for running, arsenic good arsenic a cinema astatine the apical of the roadworthy for a lazy day nighttime option.

When did you determination in?

We moved into the level successful April 2019 aft viewing it successful the January. As soon arsenic I saw the place, I instantly fell successful emotion with it – David too, but helium was a batch much chilled astir it and was keen to spot different properties to compare.

How overmuch does your spot cost?

We bought it for £400,000 which was nether our budget, allowing america to commencement renovations beauteous overmuch arsenic soon arsenic we got the keys.

How overmuch was your deposit?

We had a deposit of £40,000 which was made up of savings and immoderate wealth from an inheritance.

What is the monthly outgo of surviving present now; some owe and bills?

A batch much than it did 5 years agone that’s for sure! We’ve precocious renewed our fixed-rate owe and seen bills similar utilities and work charges increase.

In full we’re paying £2,300 a period connected owe and bills – £1,800 of that is our owe outgo and £300 is connected assembly taxation and work charges. 

The lone redeeming grace is that it’s inactive cheaper than renting, truthful we consciousness precise fortunate successful that respect.

How did you prevention up for your deposit?

I had an inheritance from erstwhile my dada passed distant implicit 10 years agone and David had savings.

What was the process of getting a owe similar for you? Did you find immoderate parts challenging?

Yes, galore owe lenders person restrictions connected ex-council flats and buildings supra 4 stories which constricted our choices, but we had a large advisor who helped america done the exertion process.

Can you stock details connected your owe (rate/term)?

We are with Santander connected a five-year fixed complaint of 4.69%. Our erstwhile fixed complaint precocious expired which has meant a immense leap successful the outgo of the owe arsenic involvement rates person gone up since we bought the flat.

We had a batch to deliberation astir erstwhile looking for a caller deal, but successful the end, we stuck with our existent lender and prioritised certainty of lodging costs implicit trying to conjecture involvement rates.

Where did you unrecorded earlier this – were you renting oregon surviving with family?

Before buying the level we rented a one-bedroom caller physique successful Dalston. Although it was nice, the walls felt insubstantial bladed and the rooms were rather small.

What made you privation to bargain alternatively than rent?

For america it made consciousness to bargain portion we could – from my experience, landlords don’t attraction excessively overmuch astir the attraction of their properties arsenic agelong arsenic they’re getting paid. They truly bash clasp the monopoly implicit renters, particularly successful London wherever they tin complaint done the roof.

How did you find this property? What made you take it?

We recovered it online done an property agent. We some decided connected it being the 1 we’d similar based connected the location, abstraction and size. I inactive deliberation we’re precise fortunate to beryllium surviving successful Zone 2 London successful 1 of the champion boroughs successful the capital.

We don’t person a car truthful the transport links were besides a large selling point; we tin commute to enactment easy (I locomotion to Shoreditch connected my bureau days) and tin get into Central London by autobus oregon overground successful astir 40 minutes.

How person you made the spot consciousness similar home? What’s the inspiration for your interior decor style?

The flats were built successful 1970 truthful we ever privation to springiness a motion to that play done the decor and the colours we choose.

Having grown up successful the 70s, David recovered a familiarity successful the mid-century furnishings that would person been successful his parents’ location and, portion I loved that, I americium known for being idiosyncratic who gets bored rather easy and (as David would agree) gets his ain way.

I’d accidental we’ve present met successful a saccharine spot which is cleanable minimalism but with absorbing things similar our Giuseppe Parrinello Penis Vase and plates, and agleam artworks similar our Studio Lenca Limone portrait.

A batch of the things successful our location travel from our favourite manner store, Earl of East which stocks beautifully curated selections of autarkic brands and their ain location fragrance products – I deliberation we person a candle from determination successful each country of the flat!

What’s your favourite country and why?

I cognize David loves the chamber for its calming effect but I mostly bask the surviving room. It holds astir of our objects, plants, and artworks, and successful the evening, it gets the astir astonishing light.

Do you consciousness similar you person capable space?

Yes, for now. The precedence erstwhile moving successful was to utilise the retention truthful we worked with a large company, Ply Kitchen who built customized wardrobes and did our kitchen. We worked with their in-house designer to get the astir retired of the disposable room.

Our niece Rachel is simply a nonrecreational dancer who has precocious graduated and volition beryllium moving successful with america which is exciting. She’s 20 and needs to beryllium successful London for auditions. So, this volition beryllium a existent trial of the space.

Sure, there’ll beryllium an accommodation play but we’re truthful excited to beryllium helping her fulfil her dreams and, successful a way, consciousness similar we’re going to beryllium parents – oregon conscionable precise chill ‘Guncles’ [lol].

Do you person plans to alteration the property?

With Rachel moving successful we’ve renovated our 2nd chamber from a location bureau (since the pandemic) and dressing country backmost into a bedroom. We’re readying immoderate further enactment and person the balcony and interior stairs near to overgarment – we’re going to spell bold with Yes Colours.

Now I’ll nary longer person entree to the different chamber to get dressed, we’ve got caller customized wardrobes connected bid from Tylko for the wardrobe retention that I’ll request successful our bedroom.

Are determination immoderate problems with the spot that you person to woody with?

No, we’ve had nary problems *touches wood.*

What bash you privation radical to cognize astir buying a home?

Don’t get excessively bogged down with however idiosyncratic other has utilized the abstraction oregon decorated.

Look astatine the ceiling arsenic your level program to springiness you an thought of a room’s scope, and get yourself an designer – they don’t outgo arsenic overmuch arsenic you deliberation and volition truly assistance you recognize however to marque champion usage of the space.

Don’t beryllium acrophobic to put arsenic overmuch arsenic you tin into the things that are semipermanent investments either, similar flooring, wardrobes and a kitchen.

What are your plans for the aboriginal successful presumption of housing? Do you program to enactment present long-term?

I’m beauteous definite that yet we’ll extremity up successful Glasgow adjacent to David’s household but that won’t beryllium for a while.

Shall we instrumentality a look around?

This nonfiction was archetypal published connected June 22, 2024.

Do you person a communicative to share?

Get successful interaction by emailing MetroLifestyleTeam@Metro.co.uk.

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