Do you want to buy a home in London? The closest many of us will get is buying property on the Monopoly board.
The fact is, the average London house price has risen by 350% since 1998. What’s more, it’s now 14.5 times the typical salary.
So, what’s the answer?
Try before you buy.
Many people are renting in their ideal location, testing the area to see if they love it, then saving and buying.
After all, before you invest your life savings, you want to know you’ve chosen the right place to live.
But the question is, where should you live?
To help make that decision easier, here are the essential questions you need to answer:
What is the most important feature you want in a house?
- Low maintenance garden
- Safe neighbourhood
- Close to friends and family
- Walking distance to transport
- Walking distance to London Central
- Close to great restaurants, pubs, squares, parks
How do you spend your leisure time?
- Brunching at the city farm
- At the pub
- At the theatre
- At a sporting match
- With friends at home
Where do you shop for food?
- Local farmers markets
- Independent grocery stores
- You want to grow your own
Where do you shop for clothes?
- Vintage markets
- Upscale department stores
- Independent boutiques
- Your tailor
What do you like to drink?
- Craft beer at the local brewery
- Local beer from the local pub
- International wines from the local wine bar
- Classic Gin & Tonic at a Gin bar
- Vintage champagne at London bar
Where do you like to eat?
- At the local pub
- At the local café
- At a picnic
- At a special restaurant
- At friends place
- At home
How do you travel to work?
- By public transport
- Walk to work
- By bike
- By car
- Work from home
What will be your long-term plan for your house?
- Live in it for years and pass down to your children
- Renovate and sell
- Renovate into an HMO (Houses in Multiple Occupation) and rent
- Live in it until the next housing boom and sell
Hopefully, these questions will help create your criteria of what’s important when you choose an area to live.
The next steps?
Narrow your search to the five best locations based on your answers above. Research properties for rent that fit your criteria. Then rent the home. Live there. See if you like the area first before you buy.
To find the best properties to suit your criteria, we recommend speaking to a professional with local knowledge.
If you’re searching for quality properties in North, South, East and West London, then feel free contact us. Our clients appreciate our local London knowledge and the detailed process we use to find the right property.
We offer self-contained studios, rooms with ensuites, houses, flats and apartments for long-term letting and short stay.
What’s more, we offer no agency fees or contract renewal fees, because we know that tenants have enough costs to pay when looking for rental accommodation. Stay up to date with the latest news on available accommodation by connecting with us on Facebook, YouTube or Twitter.
If you want help to find the right rental property to suit your criteria, and want to save money on agency and contract fees, then call us on +44 (0) 203 286 6468 or email us at lettings@RekaProperty.co.uk.
P.S. Please share your comments below. Where do you currently live? How long have you been renting? Where do you want to move? I would love to know your experiences and thoughts on this topic. I hope our paths cross again soon.