London property is without doubt property that belongs to the elite. Buying property in London is certainly a statement of class. However, there are a few things that you should do before you actually decide to buy property and specifically an apartment. Let us look at these things.
Apartment size
Obviously, the sizes vary considerably. When deciding to buy apartments always take into perspective the sizes of different flats. If you are looking to live in London, it is best that you avoid studios since they are small and are hard to sell. By adding a little more money, you can purchase a one-bedroom apartment. In case you are just a traveler who does not really plan to stay in London, you can buy a studio where you can be staying during your time of business. This in the long run is cheaper than renting a house or a hotel room. Furthermore, your apartment will be a very good capital investment.
Research
Before purchasing a flat, it is appropriate to ask the owners about the development. You should ask questions concerning charges and restrictions, the neighbors, the recreational facilities, and the management. In case you are trying to avoid noise, you should know that a flat that has others below or above is noisier than a top floor or a ground floor flat. If you are planning to buy a flat that is not on the ground floor, ensure that there is an elevator. Ground floor apartments are susceptible to robbery and your insurance company will obviously ask for more security before they can even think of insuring your property.
Keep in mind that flats on upper floors are colder and warmer in winter and summer respectively. On the other hand, this will not be a problem as long as there are air conditioners. Therefore, before buying a flat, know exactly the floor you want.
Cost
The cost is not standard. Depending on the size, it varies. You can get a one bedroom flat or a studio from as little as thirty thousand pounds and a new two-bedroom, two-bathroom flat at three hundred thousand pounds. When it comes to popular developments, you must buy off plan even before a development is finished. In older developments, check that the cost allows you a parking space and private grounds. In newer properties, you have to pay extra in case you want your own parking or rather, garage. Cost will also vary with the location. If the location does not impress you or you see something that is out of place, you can use it to your advantage. Who knows, you may actually drive home a good bargain?
Service Charges
If you are a flat owner, you have to pay charges for the maintenance of communal areas. The charges are calculated in accordance with your share of the development. The services that you may be charged include garden maintenance, caretakers, cleaning, lift maintenance, pest control, water supply, club membership and so on. Always make sure that you know of any service charges of a London property before buying it so as to avoid any inconveniences in the future.
