Golden rules when deciding on a property
Article reviewed: 2013/01/11 | Next review due: 2014/07/30
There are many aspects to any property that can give added value to your comfort whilst you live there, but that also make the property more attractive to prospective buyers when the time comes to sell. In this section we look at some golden rules to bear in mind when deciding on a property and what benefits to look for that will add value.
Is the price right?
Check the Land Registry for updates on house prices that have sold recently in the street/postcode to ensure that you’re getting a good deal on the price. Generally, in terms of value, it’s better to have the worst house on a good street than the best house on a bad street where the price is reduced by the surrounding properties. See: mouseprice or nethouseprices to check online.
Extra benefits in the property
Think about what extra benefits the property you looking at provides. Is there parking? Outdoor space? Enough storage? Also, think about England’s location Rooms with a Southern view a generally sunnier, warmer and brighter. Rooms with a Northern view can be a little cooler and don’t get as much sunlight. Rooms with an Eastern view get the sunrise, whilst a Western view provides a sunset view. The view maybe wonderful, but don’t forget to have a look across the road and see if there are any new buildings planned in the area that could change the outlook.
What’s the area like?
Don’t forget to have a look round the area with a critical eye – you could potentially be living in the area for a long time - if you dislike something about the area now, it’s likely to get worse as time goes on! Are there nearby amenities: supermarket, post office, newsagent, gym, restaurants, off licenses etc?
Think of long-term requirements for potential buyers and/or yourself –
- Is there a good hospital/school/college nearby?
- What are the transport links like?
- Are there any new stations planned in the neighbourhood?
- Being close to an underground station instantly makes the property easier to sell. Is there parking at the property?
- If not, is there safe street parking nearby?
- Is there a large, green space in the area?
- A good park nearby is always a bonus in London.
- What is the area like at night-time?
- If it’s lively and noisy, is that what you’re looking for?
- Conversely, if it’s quiet, is that also what you’re looking for?
- Would you feel safe at night?
- Are there any plans for regeneration in the area?
Each Borough of London website keeps updates of any planned regeneration areas. There are many plans currently underway ahead of the 2012 Olympic Games, so they may be worth a look...