Are you interested in making a purchase in Central London real estate?
Greater London Properties is available to provide guidance on how to get the most value out of your purchase and to ensure that the process works as smoothly as possible.
Buying a home is often considered to be one of the most stressful things that you can do in your life, regardless of whether you are contemplating investing in a home for yourself or in a home that you intend to rent out or sale in the future. In the event that you are considering investing in Central London property, we at Greater London Properties (GLP) are here to provide you with some tips to help you find the perfect property to invest in and to make the entire process run as smoothly as possible.
Selecting the Proper Location
If you’re looking to purchase a house in Central London, location is essential to your decision. There are more viable places in the capital than ever before, with some areas that were difficult to sell only a decade or two ago having undergone extensive renovations to make them more marketable. Request an update from your GLP agent on each village and their current rental returns, as well as information on where you may be able to discover homes that are selling for less despite the fact that they are in close proximity to the city and everything else that is has to offer.
Take a look at some of the less desirable properties.
The sort of property that you’re searching for will be determined by what you want to do with it in the first instance. If you are investing in real estate that you intend to live in, a less desired property such as a property above a store may be less expensive and simpler to acquire, while also receiving more room for your money. If, on the other hand, you want to make an investment in real estate with the intention of renting it out in the future, think about who your target market will be. A less appealing home may be more difficult to sale, but it may be easier to find renters for.
Negotiate
Keep in mind that just because a property is advertised for sale at a given price does not always imply that it will be worth that much money in the future. By doing your own research on comparable houses in the area and the prices at which they have sold, you may be able to save yourself a significant amount of money. You will be in a better position to negotiate the asking price with the seller as a result of this.
Investigate the many modes of transportation.
The transportation possibilities in London should be considered before investing in real estate, whether for personal use or for rental income in the city. There is a tube system that serves the whole city of London, and the closer the property is to a tube station, the better. In the event that you decide to rent out or sell your house in the future, being less than ten minutes walking distance from a tube station may be a wonderful selling point for potential tenants or buyers. Alternatively, if other modes of transportation are convenient, houses that are not as near to Underground stations may be more affordable to buy.
Obtain information from the locals.
Consider spending some time visiting the surrounding region if you have recently toured a home and liked what you saw there. Keep in mind that if you’re looking to buy a rental property, it’s a good idea to look at the neighbourhood with the intention of renting it out to tenants. What services are accessible to families? What is the quality of the neighbourhood restaurants and shops? Visiting the local pubs may provide you with a better understanding of the kind of neighbourhood you’re in and provide you with an opportunity to chat with others who live in the area about the region. You may also want to think about knocking on your neighbours’ doors to introduce yourself and get their perspective on what it’s like to live in the neighbourhood; chances are they’ll be able to provide you with an insight that you won’t find anywhere else.
Look into property auctions.
If you want to make a fast and profitable investment in real estate, don’t rule out property auctions as a viable alternative for you to explore. If you’re willing to purchase a home that needs some maintenance, this might be a great way to get into London real estate market. It’s a good idea to consult with a solicitor before going through with the transaction so that they can carefully review all of the documents and alert you to any potential problems. Also, make sure that you inspect the property before making a definite decision.
Whether you’re looking to purchase a property to: use as your primary residence in Central London; become a landlord in the capital, or to purchase a property to renovate and resell for a profit, there are a variety of options available to make finding the right property as hassle free as possible.
We at Greater London Properties are always happy to talk about how we can assist you in finding the ideal Central London investment property – just give us a call. Our Lettings Team is also able to provide you with an accurate Rental Yield on any property you may be interested in (whether it is via us or not), and when the time comes, we would be delighted to take on your new home to rent and/or Property Manage, so please contact us today.
