As a general rule if you dont work in London dont live there , Ridiculously expensive and while some nice areas there are lots of less nice areas often just down the road, much like many capitals.
So if you can live the other side of STN and if you can find a town or village which doesnt have good rail access to London you will get more for your money because most people want a good train commute.
One thing about London is that it is very big-virtually everywhere inside the M25 motorway s 'London' whether officially so or not . UK infrastructure is not very good so you need to know that unless near cross rail which STN isnt getting across London is virtually impossible/impractical by car and not much better going round the M25.
So if you live north or east of STN build your life outwards not inwards and save London for the odd day out. As an example-I live out to the SW around the same distance as STN is from the City. Sure you can get a fast train from Farnborough station to Waterloo in 35-40 minutes BUT at peak times it will cost close to £40 and the car park another £9 . Good luck with your home hunting