London is one of the most popular cities in the world, and for good reason! London has an incredible history with so many old buildings, museums, landmarks and parks to explore. One thing that often gets overlooked when looking to buy a property in London is what’s really going on in your new neighbourhood. These tips will help you ask the right questions before buying properties for sale in London to make sure you’re not buying into something that isn’t worth it.
- How old is the property?
While age and history can add value to a property, as buyers it’s important that you know what kind of grading system is present in place. If the listing has any historical significance with regard to its building materials or architecture then be sure not only to look at these aspects but also ask questions about how they will affect your plans for renovating or changing things around.
In the UK, buildings are categorized by their historic value. Grade II listings allow some modification while Grade I is reserved for distinct and important structures that may be subject to more restrictions on alterations such as unauthorised changes made since listing or routine maintenance needs like painting without permission from council authorities.
- How long has the property been listed on sale? Have there been previous offers?
Asking your estate agent these two questions will allow you to assess the quality of property and its level of desirability even before booking a viewing. Knowing this information gives an insight into how it may be priced, whether there are any issues that might not immediately come up during inspection (e-g lacklustre condition), as well as giving some indication on when they last had offers made or accepted by sellers
A prospective buyer should ask themselves three important queries while looking at properties: “What do I want?”;”How much am I willing/able to spend?”, then finally, “Who else has looked at this house?”.
- How long have the owners been living in the property?
One of the most important aspects in buying a property is understanding who has lived there and for how long. This will give you some idea as to what condition it’s currently in, but also may reveal any shortfalls with maintenance that need addressing before moving into said residence or causing further damages from neglectful tenants.
When looking at properties for sale in London, it is worth considering not just length occupancy but also turnover rate – bad neighbours can cause quick turnover whereas longer periods could be caused by either structural work needing doing due an owner living without resolving problems themselves.
- What is the neighbourhood like?
Find out about noise, parking and litter collections. Find how the area is changing to accommodate new development or plans for reconstruction of public spaces like roads that are considered safe but might be congested with traffic in some areas because they lack adequate space outside homes.
Ask questions if you don’t understand something; your agent may not provide these details proactively, and you may only learn more about the area your property is situated after you have purchased it.