4 Things You Need To Know About Buying A Property In London

Buying a property in London if you’re able to do so is a fantastic investment, as it’s one of the most desirable places in the country, if not the world, to live. However with this comes a few challenges, so you must be aware of a few things before beginning your search! We’re here to introduce a few of those things to help the process go more smoothly and to help you find your dream home.

Find A Reliable Real Estate Agent

Firstly, there are so many real estate agents in London, and if you choose the wrong one, it can completely change the house-buying process for you. You want a real estate agent who gets to know you and exactly what you’re looking for in a home, gets you viewings quickly, is organised, and most importantly, is well recommended, as often they might seem really proactive, but when it gets to key stages of the purchase, they might drop back. If you don’t know anyone in London who has bought a house, then make sure to read lots of reviews about the company to see what they’re like from start to finish. When you’re first considering buying but might not be in a position to start viewings yet, start meeting with estate agents to see what they’re like and whether you click!

Consider The Location Carefully

When you are ready to start viewing, you should consider the location carefully. This is a bit different to renting as you need to think about the longevity of your property to make sure it’s the right investment for you, as well as ensuring that it fits the bill for when you’re living there. Think about council tax, the affordability of the area, how safe it is, local amenities, transport links including tube and train travel and also things like schools if that’s in your near future. Before you start your house hunt, we recommend that you narrow your options down to one or two neighbourhoods, as this will make it far less overwhelming!

Have Thorough Surveys

Something else you should make sure you do once you have found a property you like is to have thorough surveys. Often in London to get the property you want, people might try to rush you, however having thorough surveys is absolutely key! Many properties in London are quite old as a result of the limited space for building newer homes, so you must take your time with this to prevent any unwanted surprises later down the line. Focusing on energy efficiency is also key, as you may need to factor in the cost of replacing a new boiler, adding a tile roof for conservatory, fixing structural issues or resolving rising damp.

Be Ready To Put An Offer In When You View

Last but not least, you need to be ready to put an offer in when you view. The market moves really quickly, so make sure that all of your thorough budgeting is complete, you have a mortgage in principle, ensure you know exactly what you can afford in terms of a deposit, understand any implications of the property you’re looking at such as service charges or ground rent for flats, and so on. Being prepared and ready to go with all of the information you need will help you to secure the property you want!