Buying a home in the largest city in the United Kingdom is exciting and tricky. London is the most coveted city in the UK partly because of its economic prowess. London contributes a quarter of the UK’s gross domestic product making it an economic powerhouse.
When you’re shopping for a home in London, you’ll have to make up your mind about what you want in a home and the location you prefer, considering the large size of the city.
Key things to consider before buying a home in London
Here are 5 key things you should consider while shopping for homes in London:
1. The location of the property
Location is the single most important feature to consider before buying any property in London. Most often than not, location is the key difference between the price of one property and the next in London. Before making up your mind to buy any property, make sure the location of the property is in a suitable place you’d like in London.
Do you prefer properties that are closer to a specific public facility like the airport, hospital, or school? Or do you prefer properties that are far away from such facilities? Make sure the property you choose is located in an area that matches what you expect.
2. Commuting time
How fast can you commute to work if you decide to buy a property in a certain location in London? Will you end up spending hours on the road and be too tired to do your job? What distance are you willing to drive to and from work every day?
You shouldn’t make the mistake of choosing a property that limits your work option. Though houses closer to city centres are typically more expensive than other areas, consider the cost of local trains and buses fares or petrol each week. The prices may seem insignificant at first glance. But when you do the math, you’d be shocked at how fast they add up.
3. Is the building structurally sound?
While a few hairline cracks on the surface might seem normal, big cracks are an absolute turn off. While you’re inspecting the house, pay attention to bay windows, end-of-terrace walls, and extensions join – these areas are known for falling or blowing away from the house under poor conditions. Take note of any other defect you find.
These are cracks you can ask the estate agent or homeowner about before asking your surveyor to investigate. Also, hiring a chartered surveyor can save you from huge risks down the road. Chartered surveyors are trained to identify potential risks and they can easily figure out any part of a home that requires attention.
From running the taps to checking water pressure, and asking if the pipes are insulated and are not lead that you’ll end up replacing. What about the radiators? Are the boilers in good condition? If the building has a rooftop hot water tank, it is most likely an old one that you have to replace.
4. Are the rooms and storage spaces big enough?
It’s easy to overlook storage spaces while considering various features of a home. Pay attention to the storage space in the house you’re considering and never lose sight of the room sizes. Storage spaces and room sizes are among the key things to consider before buying a home in London. Are the rooms large enough for your various furniture? Can the storage space contain your boxes of junk including your kids’ toys, towels, vacuum cleaners, and spare linen etc.
5. Don’t be tricked by home staging
Home staging makes it easier for potential home buyers to actualize how it feels like to live in a home. During home staging, key property features are projected showcasing various ways to use them including interior decors, colours, furniture and so on. While home staging is a good idea, it can be used to deceive inexperience buyers, especially first-time home buyers. Rather than focusing on the decors in a property, pay attention to the features.