You’ve already decided that investing in a London property is a more stable long-term option than stocks, bonds or savings and you’re ready to commit - so, what are your first steps?
Research the market thoroughly and pay close attention to fringe areas like Colindale and Ealing which are set to increase in popularity. Getting in early will certainly boost your profits as prices subsequently rise. If your budget covers Zone 1 Central London, you can still get more cost-effective options in nearby neighbourhoods like Elephant & Castle and Paddington which have both undergone major regeneration. Nine Elms is also an emerging location, definitely worth exploring.
When looking at areas of London, it helps to pay attention to transport links and other vital infrastructural components such as parks, shopping centres and proximity to the River Thames. Many of the new property developments are creating new neighbourhoods from scratch and offer first class on-site amenities.
New build or conversion? Buying a period home might get you a priceless slice of history, but new developments offer almost maintenance-free investments that attract young professionals by combining contemporary, open-plan living with top-quality amenities. New homes for sale are playing an increasingly important role in the regeneration of the Capital and many offer incentives to those who wish to invest long-term.
Corporate professionals want the best London lifestyle and have the budget to match but with it comes high expectations. These high earners are reliable payers who tend not to inflict too much wear and tear on the property they rent. They tend to go for smaller apartments with residents leisure facilities and nearby shops and transport. Young families and sharers are looking for larger homes with more than one bathroom. Be ready to invest in the upkeep of your property to keep it looking fresh and inviting, paying extra attention to sensitive areas such as kitchens and bathrooms which must be kept bang up to date.