London is a city of many contrasts. The urban hustle and bustle, with its bright lights and iconic landmarks, can be seen right next to the tranquil greenery of Hyde Park. It’s not surprising that people are still moving here in droves. Even if you’re just visiting for the day, it’s worth taking some time to explore this exciting city on foot or by bike, so you too can experience London at its best. If you’re planning on staying longer than a few days though, then it may be time to think about investing in property – after all, there are very few places where homes come cheap.
Buying property in London has become increasingly competitive because so many people want homes at such high cost-of-living rates for their city’s resources as well as being incredibly close proximity each other; with all these buyers vying over land from developers you need good negotiating skills or else risk not getting what you were looking forward too.
Some of the tips you might find handy when buying property in London are:
- Invest in prime locations.
In a tough market, the prime properties sell first and lose less. In this way you can buy at lower prices with confidence in your purchase because it’s more likely that even if there is some volatility due to factors like supply or demand from other buyers, your cost will be stable enough over time for things to not only stay as good as they were but get better than before.
The most desirable homes in London start with a survey of prices. The highest are Kensington, Chelsea and Knightsbridge but there’s more than just these neighbourhoods that can be worth the investment. South Kensington is another hot spot for luxury condos. If price isn’t an issue, then maybe consider moving to Notting Hill or one its neighbouring areas such as West End.
- Consider other factors aside from budget alone.
The type of property you can afford will determine the neighbourhood in which to live. If your budget doesn’t allow for a house, then consider looking at flats instead.
Focusing only on affordable properties means that all other aspects – from transportation options and schools nearby, safety considerations like crime statistics or proximity with family members, may be brushed aside. Hence, you may want to look at these factors too in order to come up with a sound decision when buying property in London.
- Get to know London on foot.
One of the best ways to get a feel for London is by exploring its neighbourhoods and taking in all that it has on offer. If you plan on renting, find out how close your rental property is located with proximity specifically considering Tube accessibility.
This will give you an idea if you want easy access or not while shopping around during your stay. Relying solely upon taxis can be expensive so make sure there are other transportation options available. Whether you decide to live in London or use it as a vacation home or rental property, you get to enjoy the freedom of movement since you know your way around.