Whether for your future self or to profit from a future sale, buying London real estate can be a fantastic investment in yourself and your wallet over the long-term. With a wealth of properties on the market, it is important you carefully consider what type of property maximises your potential to reap the maximum benefits.
As established London real estate experts for nearly 20 years, we have assisted a variety of clients in buying and selling their homes, teaching us a thing or two about pairing the right property with the right buyer. Read on for our key takeaways on buying London Real Estate.
Purpose of the Property
Firstly, why are you looking to buy London real estate? Are you upsizing to accommodate an expanding family, downsizing now your children have flown the nest, or is this to be your dream home for years to come? Perhaps you are interested in investing in buy-to-let property (buying a property to rent it out to clients) or plan to rent out spare rooms for an additional stream of income?
If you want to maximise the financial return of a buy-to-let property it may make more sense to have smaller bedrooms, a separate kitchen and living room and a toilet separate from the bathroom to accommodate for multiple lifestyles in one property. This is especially in an area with a high student population and young workforce such as West London. In comparison, a larger open-plan kitchen-living room and integrated shower room and toilet may be better to enhance one family’s lifestyle.
You should also consider whether the property allows for smart home renovations, such as whether the allotment size has enough room for an extension. For more information on smart home renovations, read on our blog here.
The most rigid factor of London real estate is the location. You can change the home, but you cannot change the neighbourhood. You want to ensure you buy a property in a desirable area, one that you like but also one that has a high chance of increasing in value over the years.
The Royal Borough of Kensington and Chelsea contains some of the best of what London has to offer. This includes a vast array of cultural experiences, from the Natural History Museum, the Science Museum, the Victoria & Albert Museum, the Royal Albert Hall and the Saatchi Gallery, iconic shopping venues like Harrods and the King’s Road, and the finest eateries and lush outdoor spaces like Kensington Gardens. The Royal Borough also tops the charts on practical considerations, like top-class private and state-funded schools and easily accessible city, national and international transport links.
You don’t only have to take our word for it. According to Zoopla, property prices have gone up 13.4% over the last five years, with 661 property sales in the past 12 months. Not bad ey?
From Kensington to South Kensington, Chelsea, Knightsbridge, Earls Court and Holland Park, check out our two-part series for more information on why the Royal Borough of Kensington and Chelsea is a fantastic neighbourhood. Find Part 1 here, and Part 2 here.
The Right Real Estate Expert
Work with estate agents who are trusted experts in the local area. This will ensure that you are viewing the best properties on the market right now and that you are receiving tailored advice based on your London real estate needs.
As a local, independent estate agency, you can rely on Rickman Properties Limited. Selected as Kensington Area Guild of Property Professionals Member, our team of local experts exclusively represent the local property market within the invitation-only guild, a testament to our reputation within the local area and our 19-years of local knowledge and portfolio of connections. We have sustained a large portfolio of prospective buyers who trust our work after seeing us as an established part of the Borough since 2001. Ultimately, as a local business, we care about the local area we love and want you to get the best out of it too. This means we will only source the real estate we know is right for you.
Read a recent interview with our Managing Director and Founder, Kieran Ryan, to get a deeper insight into the founding and inner workings of Rickman Properties Limited here.
For enquiries about buying a West London property with Rickman Properties London, please contact us on 020 7937 9777 or email us on firstname.lastname@example.org
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