Why buy property in the UK?
Despite market fluctuations, owning a property is still a fantastic way to hold on to and grow your wealth exponentially. While 50 years ago, purchasing a home used to be more focused on stability and legacy, as in leaving something for the kids, today with the ever-growing demand, real estate has become a serious player in the investment world.
People who can, should buy real estate. It beats out renting and many other volatile investment options by far. That being said there is quite a bit of knowledge and education that needs to be established prior to purchase.
First, let’s take a look at what it takes to purchase a property.
Location, Location, Location
Not just ane easy to remember expression when it comes to real estate, location is everything. London is still the overall frontrunner in the property market, with more and more expats and non-locals wanting a piece of this ever-growing market.
At the end of the day, simple economics predicts that growing demand will keep London as one of the most lucrative areas to buy property, in line with New York City and others.
Gentrification and Renovations
Along, with its reputation around the world for fashion, music and the Buckingham Palace, London is constantly renovating and transforming older neighborhoods. Literally, millions of pounds are being invested in various areas in London. The Nestle Factory, The Mall or the Walthamstow’s shopping area is bringing in over four hundred new homes in that area alone!
In North London, Meridian Water is getting a new train station that will open up an incredible new zone for homes, 10,000 homes in fact.
Despite Brexit, London housing has never been better. Projected population increase means investment property in the UK will only continue to rise.
Choosing Your Investment
Like any business proposition, you need to consider multiple factors before choosing your investment. Here are a few things to consider in the UK property arena:
- Know your areas or choose an excellent company that offers area hotspot algorithms
- Know your terms-real estate doesn’t have to be complicated but you do need to know and understand the lingo and terms if you want to purchase property
- Decide if you are looking for a starter home, renovation or flip, or a long-term high yield investment property
- Loans and Other Financial Considerations-Loans, Interest rates and more
- Market Updates and Trends
These tips should help you narrow down your search and ability to purchase. Next, know the rules and unique regulations for buyers within the country and those interested to purchase overseas. Let’s start with the latter.
Every country has its own regulatory services for property purchases. For example, international buyers are offered a purchase guide by property companies, such as Gladfish, to help walk you through the details of an overseas purchase. For example, although almost anyone can purchase property in the UK, being a cash buyer makes it easier. If you are looking to build your investment
Education and analytics are your friends. London Property investments should be wisely chosen using a step-by-step process.
In a Nutshell
Despite some political changes, London is still a growing and exciting real estate opportunity. Purchasing in the UK can be a lucrative endeavor or a potential flop, so make sure to do your research, get educated and choose an excellent property investment firm to be your tried and true partner. Don’t forget that you can buy from overseas, as long as you follow all the requirements. Now is a great time to buy as London properties are growing exponentially.