Buying a property can be tough enough at the best of times but when you choose to do so in one of the most populous and expensive cities on Earth, things get even more complicated. With that being said, millions of people flock to London every year for the opportunities which it offers and the incredible way of life which you can find in the English capital.
I was fortunate enough to get a great deal on a home in Islington a few years ago and without the great help of Woodgrange solicitors, I could never have made the transaction go as smoothly as it did. I must say however that the process of finding the right property was fraught with complications and if you are planning on finding a place in London, here are some tips to help you out.
Unless you have a bank account that has a balance in the millions, buying a place in Central London is damn near impossible and the rich and famous very much have a monopoly over this area. For that reason you are going to be looking at a home outside of London and that means that travel is going to be absolutely key. London has a great amount of transport links from buses, trains and underground rail and before deciding on where you are going to live, it is important to work out the best route of getting from home to work and back again.
Buying a home near or in London very much comes down to the post code of where you intend on living and because of this, you may not always be able to get the requirements that you are looking for in a home. For this reason it is worth considering what your bare essentials are in terms of the criteria that you want in a home. There is nothing wrong with shooting for the moon when it comes to what you want, but you may need to be prepared to sacrifice some of your requirements
Budget is very much going to be the deciding factor when it comes to what kind of place you are looking for, and in what location and you should try your best to put together as much money as possible. Bear in mind that you are also going to need to furnish your property and also the council taxes on a London property are significantly higher than in the rest of the country. When putting your budget together, ensure that you have considered all additional expenses which you’ll need to pay.
If you are able to buy a property in London, you are going to be putting yourself in a position where you could actually make money down the line, such is the appreciation rate on housing in this area. It is important that you get your foot in the ladder and for this reason you may need to take something very basic, until you are able to upgrade.