London’s property market can be tricky to navigate. Its sky-high rental and property prices mean that understanding what is good value and what isn’t becomes a little more difficult. London is a sprawling metropolitan city, with a unique mix of cultures and neighbourhoods. Identifying where might be best to buy property can be a struggle and, at times, overwhelming. Fortunately, below we’ll walk you through some of the factors that you should be considering if you’re trying to find your ideal London location.
Budget and requirements
Everyone looking at property in London should have a firm understanding of what budget they are working with because this will be the primary factor in determining where you can even start to look.
The more expensive boroughs of London, such as Kensington and Chelsea, Camden and the City of Westminster, will certainly be out of reach unless you’re working with around £1 million or above. Many of the central areas of the city may well be out of reach to you because of high demand and competition. Instead, you could look a bit further out at places like Croydon or Enfield, which offer better value for money.
You may need a certain amount of space or other requirements such as parking which might have further implications for how far your budget will stretch. Space comes at an absolute premium the closer you get to the city centre – so bear that in mind. New houses around London may be more affordable and a more modern option for you.
Surrounding neighbourhood
A big factor in your decision-making should also be the neighbourhood around a property. Do you want to be in the hustle and bustle of the city with access to nightlife and attractions? Or are you looking to be further out with a little more peace and quiet? London has many different boroughs with a variety of things to offer, whether you want culture, nightlife, buzz or tranquillity.
Work or family commitments
Of course, you will likely be moving into or around London to cater to your work or family life. This will also play a significant role in where you end up because your priorities will determine what you are looking for. If proximity to good schools is your main focus then you may need to be more flexible with the space and type of property you can afford. Or maybe you just want to be as close to your work as possible? Sometimes you’ll have to compromise in one area to get what’s really important to you.
Transport options
London’s transport systems are a wonderful feat of engineering and planning. The options you have available could also be important in deciding where you settle down. If you drive and venture outside of London regularly for work or leisure, then staying a little further out of the city centre may be a good option. If you work in London and don’t drive, access to the Underground and bus networks may be a priority for you and this should be factored into your decision-making.
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