4 Things You Need To Know Before Buying Property in London

January 3, 2018

Talk to anyone living in London, and the conversation always tilts to the grand British dream of owning a property in London. Though the property market of London is complex, but it is navigable provided you understand how to search for the right home. Most people are unsure about how to start looking, budget their mortgages or which place has the potential? And so we have taken out this property guide for buying your home in London:

 

Finding the right place: In the world we live in, a lot of search happens online. Real estate agents have become efficient in listing their properties and often use misleading terms. So next time you read something like ‘potential to develop’, know that it means that the location is a dump, or ‘quiet street’ implies that the place has a boring neighborhood. Filtering through the lines, all you need to do it to look long enough to understand the property details before dialling the number of the agent. You can also try the old school method of meeting the real estate agents in London in person and register with them.

 

Take care of the mortgage: Before you step in the property market, you need to get an idea about how much can you afford. By the general rule of thumb, banks give mortgages up to five times your annual salary. However, factors like credit score, current financial position, liabilities, partner’s financial background, etc. also weigh in.

 

Speaking to the prospective sellers: Many first time buyers need assistance from property brokers to settle on a home of their liking. To begin the conversation, property information form can give you details of the house, like number of bedrooms, bathrooms, square feet, floor, type of property, neighborhood  area, etc. You can also use it to find the reason for selling, the asking price (and if the seller is open to negotiating it) and any repairs or upgrades the house may need. Simply walking through the questions, you can easily asses the seller’s need-to-sell level and use it to your advantage.

 

See, see and see more: Most agents organize open houses to declare a property open for selling in the market. Have your realtor show you at least 15-20 properties before you make up your mind. Do a thorough check of the neighborhood. Find out how far are the nearest amenities like schools (if you have children), parks, recreational places, supermarket, medical facilities and transportation services for daily commuting.

 

So you want to do all the running and research yourself but don’t have time? Sounds like you may need a listing that’s reliable and catalogues affordable options. We can find an agent who will be interested in helping you – and we aren’t difficult to locate. You may continue at our site or check or Facebook page to see the latest deals. Whatsoever you decide, we can assure you that no one else can serve you as swiftly as us. It’ll pay to have an agent like us on your side.

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© 2017-2025 of www.we-buy-your-home.co.uk. All Rights Reserved.

All offers made via this website will be at a discount to the open market value of your home and are subject to survey and searches.

Important: Whilst we make every effort to complete in a reasonable and quick timescale, there are sometimes circumstances that might affect the actual completion date and in extreme circumstances our ability to purchase. Our initial offer is provisional and will only be confirmed once we are in receipt of a survey and the searches and contracts are deemed satisfactory by our legal team. Other factors may affect our decision to purchase or effect the price we eventually agree. Over recent years financial turbulence and market forces from both inside the UK, Europe and the rest of the world have caused extreme price fluctuations in the UK property market. Property law is as such that until exchange of contracts takes place with the legal representatives, the transaction is not legally binding. Prior to a legal exchange of contracts we can rescind the agreement at any time if we have any knowledge or we are advised that the property is not as initially described and/or anything comes to light that may have effected its value. Alternatively, the purchase price may be renegotiated by mutual consent. In the event we rescind the agreement then all legal aborted costs and disbursements and survey fees in the transaction will be met by us. We strongly advise not to commit to any expenditure or completion dates until legal exchange has taken place