house in london

Photo source: Flickr http://bit.ly/2w1IB2K

There comes one point in every home owner’s life when a though crosses his/ her mind: I need a bigger place. Climbing up the property ladder is a natural thing to do when you have a family and the financial situation is in your favor.

The solution is either moving into a bigger apartment (considering you already own one) or switching for a house. And the decision might not be as easy to take as you might think. A spacious and well placed apartment can be almost as expensive as a house, so the financial reasons might not be enough to have a clear choice.

If this is the case, bear in mind a couple of decisive facts when choosing a new place to live:

  • Try to estimate as realistic as possible the necessities for the family space. How many bedrooms? How big should the living be? How many bathrooms?
  • The neighbors. You might be that type of a people person that doesn’t mind hearing neighbors through the walls or you might want some peace and quiet and more personal space. A house doesn’t guarantee sonic isolation, and you’ll still have neighbors looking over the fence, but it is clearly more isolated than an apartment.
  • Gardening. Decide fast how much do you like it and to which extent. If you find overwhelming watering the cactus, you will definitely hate mowing the lawn once every… let’s say ‘week’ to make you feel comfortable.
  • Future development. Do you think you’ll need a garage or some extra storage space in the years to come? Think about how flexible the surrounding space should be to meet all your needs.
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Photo source: Property Division http://bit.ly/2eS3I0m

Property is a better investment for old age than pension, experts say! Even with the rising uncertainty over the property market, most specialists consider a rented property a reliable source of income.

Buy to let or simply investing in a property is a good decision according to this article in Property Divison:

More People Choosing Property Over Pensions

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A better supplied market does not seem to be the answer for forcing rental prices to go down. At least not around London. 

Latest data showed that in the second quarter of 2017 the rental offer increased by 7% in the areas around London. At the same time, the average rent per month reached £790 – going up by 2.8% in comparison with the previous quarter.

Supply of rental properties rises in UK, but rents still going up too

Inside London, rents dropped by 0.2%, however, with an average rent at £1,934 per month.

To get a clear view of the market, go to the Victor Michael website in the ‘Letting’ section.

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