What I Own: I’m a first time buyer — I paid £620,000 for my London two-bed flat

Welcome back to What I Own – Metro’s property series where we speak to homeowners about getting on the ladder.

This week, we’re back in London, meeting 30-year-old Nitish Kumar, who bought a two-bedroom flat in Poplar, East London for £620,000 in July 2024.

A keen gamer, Nitish has truly made the place his own – with a dedicated gaming desk, a games console in the living room, and even a chess set in the kitchen.

When he moved to London, his first flat was in Canning Town. While Nitish has lived in other areas, the East London spot felt like home, so when it came to buying, he looked at nearby Poplar.

Now, his building plans to introduce boujee amenities including a jacuzzi, salt room, spa, and even a mini cinema room.

Here’s what Nitish had to say about his property journey…

Tell us about yourself!

I’m Nitish Kumar, I’m 30 years old and work as a software engineer in Euston.

I occasionally work from home, but I typically cycle to the office, which takes me about 40 minutes each way.

Whereabouts is your property? What do you think of the area?

I live at Iris House at Berkeley’s Poplar Riverside, a new neighbourhood in East London.

I absolutely love the area – it’s much quieter and more peaceful compared to where I lived before. There are beautiful local walks, and it’s great for cycling, with plenty of routes to explore. It has the perfect blend of green spaces and convenient access to the city and Canary Wharf.

It’s in a prime Zone 2 location, so has excellent transport links too. Both Canning Town and East India stations are within walking distance. I’m super excited about the bridge currently under construction that will connect the area to Canning Town.

The Poplar Riverside neighbourhood itself has a new public square, which will host a variety of events and will be surrounded by cafés, bars, and restaurants.

I’m a big fan of the basketball court, and I’m really looking forward to the launch of the Riverside Club, which will include a 20-metre swimming pool, jacuzzi, spa, lounge, co-working spaces, games room, cinema room and even a salt room.

When did you move in? Who do you live with?

I moved into my two-bed home last July. I live alone.

How much did your property cost?

The property was £620,000.

How much was your deposit?

I paid a 25% deposit, which came to £155,000.

What is the monthly cost of living here now, both mortgage and bills?

My mortgage is £2,800 per month, and bills come to an additional £400-£500 per month.

How did you save up for your deposit?

I bought my flat with a mix of savings and a generous gift from my family. About 70% of the deposit came from them, and the rest I pulled together myself after saving for a number of years.

Prior to purchasing the flat, my savings were deposited in both a Cash ISA and Stocks and Shares ISA. Since the AER of the Cash ISA is much lower, I liquidated it and used that money to increase the deposit amount.

The contribution from my family also meant I could hold keep my investments intact and also helped me set up my flat with furniture that I wanted to buy.

I kept a buffer for this in my savings, to purchase necessities and slowly add in decorative items over the years. I’m more about quality than quantity when it comes to interiors, so I’ve taken my time to choose pieces that feel right.

What was the process of getting a mortgage like for you? Did you find any parts challenging?

The process of getting a mortgage was mostly hassle-free for me – there was a bit of an issue with one bank, but another was much smoother to deal with.

Berkeley was very supportive throughout the entire process and helped me navigate each step.

Can you share details on your mortgage (rate/term)?

My mortgage is fixed for two years.

Where did you live before this – were you renting or living with family?

Before moving to Poplar Riverside, I was renting in Wembley on my own.

My rent in Wembley was £1,765 a month, but I had secured a discount for the first year of my two-year contract and paid £1,500 instead. After the first year, my rent then increased from £1,500 to the full £1,765, and that is when I started thinking about purchasing.

What made you want to buy rather than rent?

The cost of renting had become quite high, especially for a small studio. Given that I had made the decision to stay in London long-term, it just felt like the right moment to settle down and invest in a place of my own.

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

When I started looking for a home, I was really impressed by the build quality of Berkeley developments. The little things really stood out to me, like the thickness of the doors, which I think is a great indicator of quality.

I also love that there are balconies on both sides of my home. It’s perfect for chasing the sun throughout the day and allows for great ventilation in the summer.

The Sainsbury’s on-site is another bonus – it’s incredibly convenient to have a supermarket just a stone’s throw away.

I also considered Alexandra Gate, a Berkeley neighbourhood in Haringey, but ultimately chose to buy at Poplar Riverside because I was already familiar with the nearby area, having lived in Canning Town.

Ultimately, I chose this area for my first home because it’s not only a great place to live now, but it has a lot of potential for the future too, making it a good investment.

What’s your favourite room and why?

The living room is my favourite room in my apartment as it’s where I spend most of my time. I have set it up well for gaming, which is a big passion of mine.

The room also has access to the two balconies, which is great for natural light.

Do you feel like you have enough space?

Yes, there is plenty of space, especially given it is a two-bed. There is plenty of room for storage – it sometimes feels like Narnia.

The open floor plan of the kitchen and living area makes it feel even bigger, and the rooms are a great size. Having plenty of green, open space on the doorstep also makes it feel super spacious for me.

Do you have plans to change the property?

I don’t currently have any plans to change the property. The space works really well for me as it is.

What do you want people to know about buying a home?

One of the most important factors when choosing a home is finding the right area. For me, Poplar was a clear choice. It’s rapidly evolving and becoming an increasingly popular place to live, which makes it a great investment.

I would definitely recommend others buy a new build, particularly with Berkeley, as the build quality and the on-site amenities are excellent.

What are your plans for the future, in terms of housing? Do you plan to stay here long term?

I plan to stay here for the foreseeable future, likely for the next five to seven years. After that, I may look to move elsewhere when I’m ready to start a family.

Shall we take a look around?

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