4 Things You Need To Know Before Buying Property in London
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.