Knowing the lingo isn’t the only thing that you need to be up to speed on if you are looking to purchase a property in the capital. In fact, there are a lot of ins and outs that you need to be aware of to make the best of your investment. So read on to find out more.
Is the area up and coming?
One of the most important factors to consider when buying property in London is whether the area is an up and coming one. This can be easier said than done though because the gentrification of a borough can happen very quickly.
To help you with this look for signs like high-end stores and restaurants being open in the area. As this usually points to an influx of well-paid workers seeking accommodation.
Also rising rent and purchase prices are another sign that the area is up and coming. But when buying it’s important that you swoop in at the right time. So you aren’t paying too much and can still make a decent profit if you choose to rent or sell.
What are the transport links like to central?
Another very vital aspect of getting property investment right in London is checking how good the transport links are from that area to central London. This is particularly important for two reasons.
The first is that many people will work in central, which means that they want to be able to commute in the easiest way possible.
This could be by either tube or bus, and one of the most important things is that the distance from the property to the tube or bus stop isn’t too far. As this can really increase the desirability of the home. As it makes it a lot easier for the person that is living there to get around.
Secondly, it’s important to be near the transport links for when you are not working. This is because most people in London don’t run cars due to the traffic and congestion charge. So to get anywhere, they will need to use the city’s transportation system.
It’s it close to shops and pubs?
Of course, it not just about how good the transport link to the centre is, but also what the local area is like that is important when buying a property in London.
For example, flats and houses that are close to larger supermarkets chains, good shops, and decent pubs are going to be much more desirable than those that aren’t.
This is because they allow the resident to have a better quality of life, without travel great distances for everything. Which can be something that gets tiresome in London, after you have lived there for a long while.
Is there a garden or outside space?
Lastly, also remember when buying a property in London is that anywhere that has access to a garden or an outside space is more valuable than this that don’t.
Think about it if you are living in a city jammed full of people, with only limited green areas, having you own little slice of greenery can be a lifesaver!