Welcome Home / Where to buy home in London

Where to buy home in London

Everything you need to know about buying a house in London

SCROLL DOWN FOR MORE INFORMATION

Buying a house in London with Welcome Home:

A complete guide to your next property investment

For many years, the London property market has attracted international investors, particularly from Italy, who are looking to buy a house in London for work reasons or to take advantage of excellent investment opportunity.

But what does it cost to buy a house in London? Particularly after Brexit, house prices in London have fallen, changing the relationship between supply and demand and making it cheaper to invest in property in the capital. The value of property in London is higher than in other cities in the United Kingdom because the capital is a centre of global finance and a leader for job opportunities.

In this detailed look, we will examine each step involved in buying your next house in London: which areas to choose, how to identify the right property for your investment and how the buying process works.

Choosing the right part of London to invest in

London is one of Europe’s largest cities, divided into 33 boroughs which are themselves subdivided into districts. If you choose to invest in a property in London,it is important to familiarise yourself with the different districts, where is good to buy and what are the strengths of each area. Districts such as Notting Hill, South Kensington, Camden Town, Covent Garden and Clapham are considered to be some of the most prestigious in London because they offer outstanding neighbourhoods and an excellent supply of apartments and houses in safe residential areas. . In addition, when deciding on which area of London to live in, it is crucial to consider proximity to essential services and the presence of connections to London’s public transport network, one of the most efficient in the world, connecting zones 1, 2, 3 and 4 of the capital.

Having identified your area of London, it is time to find your investment property. Identifying the right property Here are three top tips from our Welcome Home experts.

Identifying the right property for you, using Welcome Home’s 3 ‘L’ rule

When identifying a property for a profitable investment, at Welcome Home we always recommend using the 3 ‘L’ rule: Location, Layout and Leverage.

The first ‘L’, Location, is critical if you want to invest in rental property: a prime or central location such as Covent Garden is a guarantee of income, thanks to huge rental demand and sales of properties. Next, it is importantto consider the Layout of the property: at Welcome Home, we select properties where it is possible to redistribute the spaces, reorganising them to make the interior functional and versatile.

Lastly, with all investment properties it is important to buy well to be able to cover costs, mortgage payments and initial fees: your property must generate liquidity to guarantee a profitable investment for you.

How does the house buy process work in London?

As we have seen in this article, all property purchases in the United Kingdom aregoverned by leasing contracts. Once you have selected the right property to invest in, the purchase process for a property does not take that long: from making an offer to concluding the contract normally takesfour to five weeks, during which the administrative legal and bureaucratic procedures are carried out.

A property purchase can be broken down into three main stages: conveyancing, exchange and completion. In the first stage,the purchasermakes an offerto buy and the solicitors for the respective parties take care of issuing all of the standard documentation (including the sales memorandum, which contains information about the price of the property and the contract timescales) and searches relating to the property. These searches include any debts, late or missing payments of taxes, anyissues with the leasehold, a land registry search, searches for water, gas and electricity connections and lastlysearches for contaminated land and forflooding issues.

At the exchange stage, the agreement to purchase is finalised by paying 10% of the property value to the client account of the seller’s solicitor. Lastly, at the completion stage, all that remains is to pay the balance of the purchase by the completion date: on receipt of the balance,the seller and the keys to the purchaser and the property is registered in English (Land Registry.)

Buy your next house in London with Welcome Home

Using a professional property manager, such as our team at Welcome Home,helps to simplify all of the legal, administrative and bureaucratic processes which are necessary for making a success of your investment. At Welcome Home, we support you at every stage of your investment, from choosing the area, buying the property, to managing it and searching for referenced tenants.

Choose Welcome Home for your next property investment.

How to buy home in London

A complete guide to your next property investment

Finding the right tenant for your property in London is a central activity for us. Thanks to the experience achieved in the field and the professionalism in the sector, we offer a safe service, which allows you to enhance and maximize the income from the property, without worrying about bureaucratic tasks.