How do I find the perfect property?

Buying a home is one of the biggest and riskiest decisions you must make in life, and it really is worth putting in the effort to make sure you get it right. A lot of people make mistakes in buying homes, which can affect your well-being, be a major hassle – and be very expensive.

You should only start choosing a property once you confirmed the area you want to live. There is no point in having the right property in the wrong area.

Plan for the long term

If you are a first time buyer, you might just want to get your foot on the property ladder and move on in a couple of years.  But most people end up living in their homes for many years, and it is vital to factor that in. If you don’t buy a home that is future-proofed, you can end up having to move more frequently, which is incredibly expensive.

  • Ensure it is a home you will grow into. People tend to like having more space as they grow older
  • If you are planning kids, or more kids, do you have enough bedrooms, and a garden? Living at the top of a staircase might not matter if you don’t have kids, but could be an impossible barrier with a pram
  • Think about conversions or changes you might make to the property – you don’t have to do them all at once
  • Can you build into the loft or other undeveloped space?
  • Furniture and home improvement costs wither away after the first few years
  • Unless you lose your job or stop working for other reasons, you will almost certainly enjoy earnings that rise steadily year on year throughout your life
  • The cost of a mortgage does not increase year on year, varying at most with interest rates.  That means that your mortgage will get steadily more affordable as a proportion of your income year by year
  • Barring personal setbacks, a property that was difficult to afford when you bought it will almost always be more easily affordable five years later
  • You can change the colour scheme easily, but there is nothing you can do about the total floor area in a first floor flat
  • Can you envisage developing the property over the years – is there room for extensions, or loft conversions?
  • Ugly features might depress the value, but can be very cheap to remove
  • Changing narrow corridors or awkwardly shaped rooms can be impossible

Stretch yourself

All other things being equal, owning a home almost always gets steadily more affordable every year you live there.

Focus on the fundamentals

Make sure you distinguish between what is superficial and what is fundamental. For example:

Learn everything you can about the property

Once you have your eye on a property, learn as much as you can about it.

  • Ask the estate agent smart questions about the property.
  • When you go to view the property, make sure you check out the right things.
  • Rival estate agents will often dish the dirt on a property, particularly if they have previously had it on their books and failed to sell it
  • Sometimes you can contact previous owners, who no longer have a vested interest in talking it up – this can be particularly informative if you suspect there might be problems with it
  • Ask the neighbours. Knock on their door and tell them you are thinking of buying the house next to them – most people will be delighted to speak to prospective new neighbours. If they aren’t, that tells you something too

 

#PROPERTYOFTHEDAY #35: 6-bedroom detached house – Worsley, Manchester

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On propertypropertyproperty.co.uk/blog we are introducing the #PropertyofTheDay segment, which will highlight properties across the UK that are currently available for sale or rent on the portal. Today we are highlighting Owen Knox Estates in Worsley, Manchester and their lovely 6-bedroom … Continue reading

#PROPERTYOFTHEDAY #34: 2-bedroom apartment – Salford, Manchester

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This gallery contains 11 photos.

On propertypropertyproperty.co.uk/blog we are introducing the #PropertyofTheDay segment, which will highlight properties across the UK that are currently available for sale or rent on the portal. Today we are highlighting Goodwin Fish & Co in Salford, Manchester and their lovely … Continue reading

#PROPERTYOFTHEDAY #28: 10 Bedroom Detached House – London

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On propertypropertyproperty.co.uk/blog we are introducing the #PropertyofTheDay segment, which will highlight properties across the UK that are currently available for sale or rent on the portal.

Today we are highlighting Victor Stone in London and their lovely 10-bedroom detached house property which is currently available for sale for £5,000,000.

Insight on the Property:

Comprising of a selection of apartments this purpose built block offers x2 One Bedroom, x3 Two Bedroom and x2 Three Bedroom Duplex Flats. Finished to a high standard other benefit include allocated parking and long leases. Located within easy reach of Kensal Rise and Ladbrook Grove underground station the property is also situated close to the local shops and amenities.

For more information on this property and the agents, check out the properties listing on their site: http://bit.ly/2Cr8ZGp

 

German property investor buys UK fund manager Rockspring

Patrizia German property investors have purchased UK investor Rockspring in a deal that boosts Patrizia holdings across Europe to around €40bn (£35bn) and gives it an instant London presence.

Rockspring has been seeking a backer to ensure the future growth of the business in the middles of concerns of economic and political changes in the UK. Rockspring have invested in UK and European offices and retail properties since 1984. They will continue to trade as normal, but access to Patrizia’s client base will give it more scope to invest its existing funds across Europe.

“Earlier this year a number of factors combined to make us realise it was the right time to start considering our future and prepare Rockspring for the next phase of its growth.” said Robert Gilchrist, chief executive of Rockspring.

He said Brexit, an uncertain political environment and changing regulations, as well as a strong real estate investment market, had led the management team to its decision.

The company has recently committed to developing the next phase of its Cambridge Research Park, as well as securing a let to John Lewis at one of its warehouse sites. It has also invested in a number of European cities, including buying an office building in Amsterdam last month.

Patrizia meanwhile will be able to access new investors through Rockspring’s London office.

Wolfgang Egger, chief executive of Patrizia, said the deal would allow the firm to “strengthen its market position significantly in its core European markets”.

“This acquisition represents an important milestone for Patrizia in achieving our vision to become a global provider of European real estate assets for our clients,” he added.

There are signs that the slump is easing after prime London property going through a though year

The City of Westminster, Camden, and Kensington and Chelsea are capital’s three most expensive boroughs. According to a report from LSL Acadata published Monday, These three boroughs each saw sales jump by more than 20 percent in the third quarter.

This surge indicates that “momentum is returning” to prime central London after a year of tumbling property prices.

Acadata’s Peter Williams and John Tindale  said “Movement at the top end of the market helps to increase activity all the way down the housing chain,”

The report may also be a cause for optimism nationally. While November’s 0.9 percent annual gain in prices was the slowest since April 2012, and down from 6.3 percent a year ago, they increased from the previous month for the first time since March.The signs of improvement buck a trend of pessimistic reports on housing, particularly regarding London.

In the RICS survey, brokers flagged a range of reasons for the stagnation, including Brexit uncertainty, political instability and November’s interest-rate increase from the Bank of England.

Even in Acadata’s report, the picture isn’t entirely rosy. Prices in the Greater London area were down 3 percent from a year ago in October, with the City of Westminster leading losses with an 18.2 percent drop. London’s market also remains a drag on the UK.

The annual change in prices reported this month would have been 3.3 percent without the capital and the southeast.

 

#PROPERTYOFTHEDAY #27: 3 Bedroom Apartment – Marylebone, London

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On propertypropertyproperty.co.uk/blog we are introducing the #PropertyofTheDay segment, which will highlight properties across the UK that are currently available for sale or rent on the portal. Today we are highlighting Manors in London and their lovely 3-bedroom apartment, property which … Continue reading

#PROPERTYOFTHEDAY #26: 3 Bedroom Apartment – Piccadilly, London

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On propertypropertyproperty.co.uk/blog we are introducing the #PropertyofTheDay segment, which will highlight properties across the UK that are currently available for sale or rent on the portal. Today we are highlighting Plaza Estates in London and their lovely 3-bedroom apartment, property … Continue reading

#PROPERTYOFTHEDAY #25: 2 Bedroom Apartment – Mayfair, London

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On propertypropertyproperty.co.uk/blog we are introducing the #PropertyofTheDay segment, which will highlight properties across the UK that are currently available for sale or rent on the portal. Today we are highlighting Conquest Property Company in London and their lovely 2-bedroom apartment, … Continue reading

#PROPERTYOFTHEDAY #24: 3 Bedroom House – London

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This gallery contains 4 photos.

On propertypropertyproperty.co.uk/blog we are introducing the #PropertyofTheDay segment, which will highlight properties across the UK that are currently available for sale or rent on the portal. Today we are highlighting Conquest Property Company in London and their lovely 3-bedroom house … Continue reading