The Cutthroat World Of Buying Property In London

Buy sell Property & Real Estate Investment Guide

Buying Property Tips#1: Choose the Right Location
Before you choose a location, it is of utmost importance that you consider the development prospect of the area. Other factors to consider here is crime record of the area, availability and nearness of public facilities and utilities.
Buying Property Tips#2: Study the Local Market Dynamics
It is important to get well familiar with the local realty market. Learn the variation in property prices by street. Don’t shy away from asking a few realty investment agents questions to get better insight on the matter.

When it comes to industries that are ruthless and cutthroat it's hard to find those that rival buying property in London. It seems as fast as properties go on the market, they are snatched up, which can make it a bit tricky to break into. If you're looking into new build homes in London the outlook isn't any brighter, as it is just as competitive and fast-paced.

The Rise of Buying Agents

While it used to be that corporations, investors, and private individuals could look at new build homes in London and go about the purchase on their own, this is quickly fading. Today buying agents are more and more prevalent and they act on behalf of their client. In many cases using a buying agent is your best hope at securing that property and without them you'd probably be out of luck.

There is more to it than just that though, there is also a cost-factor involved. By using a buying agent people find they are able to get those fair market value prices as the buying agent is well informed on the market. This is all the more apparent with private individuals who aren't familiar with housing prices and trends and could easily end up over-paying for a property. Wouldn't you rather that buying your next property off plan take much less time because a great price was negotiated for you?

Buying Property Tips#3: Choose the Right Property
Getting the right property right away is quite unlikely. First, you need to be clear on why you want to buy an investment property. After that, you will be able to make right decision based on factors like remoteness or accessibility of the property.
Buying Property Tips#4: Do the Math Properly
Get a precise idea on the value of assets you have available. If you are investing in rental property, make sure you can easily cover the mortgage payment through rents. Additionally, get a clear idea on the appraisal value of the property beforehand.
Buying Property Tips#5: Consider Additional Expenses
When purchasing an investment property, it is not only the selling price that investors need to consider. There are various additional expenses such as property tax, home owner’s insurance, repair & maintenance that must be considered.

A buying agent also tends to know about properties the moment they are listed, sometimes before they even are listed. Again this isn't something an estate agent or individual would likely be privy to. In order to determine the right price to pay, the buying agent takes a few things into consideration such as the capital growth potential of the property, the yields, the current market values, and more. They should be in contact with their client throughout the process making the entire negotiation transparent and without issues.

These buying agents can also offer invaluable advice should you come across a new build that you think is a great deal, but in fact turns out to no to be so. They can save you from making an investment you end up regretting and having to pay off for many years to come. With so many advantages to using a buying agent it's really no wonder that they have grown in popularity not just with new build homes in London, but throughout the U.K.

New Homes Investments is a large buying company. It purchases a variety of new build properties in London on behalf of property investors, corporate clients, as well as private individuals. The company has been around for over 15 years now and has become an expert on the market during this time.

Buying Property Tips#6: Inspect the Property
To ensure that you are getting everything you are paying for, a thorough inspection of the property is essential. Besides ensuring that you are not overpaying, a rigorous property inspection also gives you a good estimation on what the additional expenses might be.
Buying Property Tips#7: Pick the Right Financing Option
While interests on investment property loans are tax free, some borrowing costs aren’t immediately tax deductible. Knowing that, and structuring your financing in accordance is crucial. Don’t hesitate to ask for help from a financial advisor.
Buying Property Tips#8: Invest through Equity
One of the best ways to purchase an investment property is to leverage the equity of another property (including your primary home). This is a preferable way among regular investors, especially due to added tax deduction advantages.
Updated: February 28, 2018 — 11:49 am
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