Relocating from one area to another, can often be difficult. Understanding the area you are moving too; helps to make important decisions on the area you are moving too. Property Expert and Director, Lucy Royds from Paramount Properties reveals her top tips on buying in London.
Here are my top 10 tips on buying property in London.
1.) Shop around for the best Mortgage and get an approved ‘in principle’ agreement before you start your search. This will put you in a good position when you find the right property.
2.) Location, Location! Think about what transport links you need to be close to. What tube line is best for your commute?
3.) You may not have children or even be thinking about having children but it is worth looking at the school catchment areas. When it comes to selling on, proximity to a good school is a top priority for many home buyers.
4.) Living in London doesn’t mean settling for a property on a busy road or next to a train line. Avoid noise at all cost, it will drive you mad and deter future purchasers when it comes to selling on.
5.) Most London flats are leasehold so its worth checking with other residents in the building on the quality of the property management.
6.) Get a survey done prior to exchange of contract. You don’t want any nasty surprises once you’ve completed the purchase.
7.) Only buy a property you can see yourself living in for a few years. In these uncertain economic times you need to be able to ride out any dip in property values.
8.) Check online websites such as upmystreet.com and zoopla.co.uk to compare recent sale prices in your chosen area.
9.) Consider using a buying agent, they act on your behalf to get you the best property at the best price. Remember estate agents act for the vendor not the buyer so it makes sense to have someone in your corner.
10.) When you’ve bought your dream home, don’t move on a Friday. The roads tend to be busier and if you are using a removal company many will offer a discount on a midweek move.
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