Warning: Cannot modify header information - headers already sent by (output started at /homepages/29/d786878964/htdocs/clickandbuilds/Openbrix/wp-blog-header.php:9) in /homepages/29/d786878964/htdocs/clickandbuilds/Openbrix/wp-content/plugins/all-in-one-video-gallery/public/public.php on line 105 Buying in London. – OpenBrix
Buying your first property is difficult enough, but finding somewhere nice and affordable in
London can sometimes seem like an impossible task. With housing prices going through the
roof in the nation’s capital in recent years, we thought we would compile a handy list of the
top ten tips for first-time buyers in London.
Manage your expectation
We all want a house slap bang in the middle of central London, or perhaps in a beautiful
area such as Chelsea. Unfortunately, a little thing called money comes into play and that
tends to ruin these fantasies for the vast majority of us. When it comes to buying a property
in London, it is all about working out how much you can spend and then looking in the areas
in your budget. Don’t build up your expectations to a penthouse suite overlooking the
Thames if you can’t afford it.
Buying in London is all about location. While the majority of the big-name places may be out
of your price range, there are a load of up-and-coming areas in the capital. Not only are
these cheaper, but they are also likely to increase in value in the near-future. Check out
places such as Croydon, Bromley, and Barking for some outside options.
Think outside the box
Everyone wants a picturesque little home in London to call their own, but sometimes it is
better to compromise on exterior beauty for what is within. Think outside the box and take
a look around some places that others may rule out. Apartments above shops are a great
example of properties that don’t look much from outside but may actually have more
interior space than other flats in the same price range.
Do your homework on the property and the location to make a realistic offer, but don’t be
afraid to come in a bit lower and haggle a better price for yourself.
Play it cool
Talking of haggling, playing it cool when you visit the property in front of the owners or
estate agent is always a good way to go. You will always find it harder to haggle a price
down if you have been gawping and wowing your way around the property.
As long as you do your homework and look over the paperwork thoroughly, auctions can be
great places to get a bargain in London.
Don’t go it alone
Where it’s a partner, family member, friend, or someone you meet online who is in a similar
situation to you, teaming up to get a property is always a great idea.
This is especially important if you are looking at cheaper places on the outskirts of London.
Check the travel links, make sure you have a good route to work, and find out the prices.
Help to Buy schemes
Want the good old government to help out by paying an equity loan of up to 20% and a
mortgage guarantee of up to 15%? Check out help-to-buy schemes.
Do your research
As always, research the property, the location,the travel links, and anything else you desire
from the local area. Make sure this place has all of what you need and some of what you