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Article > Finding a Suitable Property in London amid the Frenetic Markets




Article kindly supplied by

www.morganrandall.com

 

As we look back across the last year, we see that UK property prices have seen unprecedented levels of growth. This has been particularly noticeable in the nation’s capital, where already high prices rose even more.

What compounds this is that according to the latest predictions, we can expect the prices and rental costs to go up by at least 5% in 2015. This combined with ever-increasing numbers of people and demand, means finding a suitable property in London has never been a more daunting task. That being said, living in London is by no means out of the question. There are ways to make this more manageable and help you to secure a property in and around the London area. So whether you intend to buy or to rent, what follows are just some of the means in which to do so.

Be Realistic
First and foremost, unless you are in a position to afford a high-end property you need to seriously consider the area you wish to live in. Do your research and look online at property forums about what particular boroughs can offer you for the cost, in terms things like: commuter links, neighbourhoods and amenities. Equally, if you are looking in the high-end markets, there is no harm in reading up on what your desired area can offer you.

Think About the Future
You need to consider how long you intend to stay in this property. If you are renting remember that your rent might increase as demand does. Whereas buyers should look into the forecasts regarding house prices and question whether it will be a worthwhile investment.

Save Up for Initial Expenses
This might sound obvious, but sometimes people can neglect the cost of the deposits needed to secure a rental property. At the same time, administrative fees and utility costs can be substantial in London when buying or renting. The best course of action is simple; give yourself enough time to save up and budget above what you expect your maximum expense to be.

Use Established Estate Agents
The best estate agents for London properties are the ones that are actually based in the capital, as they will have a thorough understanding of the areas they operate in. Morgan Randall being one example of an Agent that has a number of branches in different parts of the city.

Another way to tell if an Estate Agent is a reliable one is by how long they have been in business and how regularly they update their listings. If they have been around for a while it shows they have a solid business foundation and have successfully dealt with the ever-changing property markets. These agents will do their best to find you a property that suits your financial situation.

 

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