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Page: Guide to Buying Property in the UK

A Bullet Point Guide to
Buying Property in the UK

Benefits of investing in London property market

Real estate is one of the most profitable businesses in the U.K. because it returns cash flows and capital appreciation. Examples of real estate investments include condominiums, detached homes, single homes and apartment homes.

Most real estate is illiquid. This means that you cannot sell your property in a hurry. However, online real estate companies such as The Little House Company do speed up the process. Although it is important to understand the risk and benefits of investing in the London property market before you put your money into a deal.

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Commercial property in London, UK, provides good returns and capital appreciation (Image by Freeimages.com)

Commercial Property

When you start thinking about buying property in the UK, that will usually mean starting with the city of London's commercial property. Here are important points to keep in mind:

../images/blue3-triangle-1s.pngMake sure you are aware of prevailing market conditions.

../images/blue3-triangle-1s.pngChoose an agent who primarily works with buyers. Research the agent and make sure he is working in your best interest.

../images/blue3-triangle-1s.pngDetermine how much you want to spend on a property. Get pre-approved for a loan and structure it for longer terms and a lower down payment.

../images/blue3-triangle-1s.pngCheck on proximity of the property to support services such as the local fire department or hospital.

../images/blue3-triangle-1s.pngTake note of building conditions in the neighbourhood.

../images/blue3-triangle-1s.pngMake sure the neighbouring commercial buildings are in good condition as this affects property values.

../images/blue3-triangle-1s.pngDecide how much you are willing to pay for the property. During negotiation, offer less than what you are willing to pay.

../images/blue3-triangle-1s.pngEngage a real estate attorney to help you close the sale.

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Rental properties in the UK can be a good source of steady cash flow returns(Image by Freeimages.com)

Rental Property

When you buy a rental property, you essentially become a landlord. This will mean numerous responsibilities, including keeping your properties safe and adhering to other regulations required by Housing Health and Safety Rating Sytem (HHSRS). But for pure investment purpose, consider these points:

../images/blue3-triangle-1s.pngTime the market accurately. Cycles associated with real estate markets have significant effects on your ability to make profit from your rental property investments.

../images/blue3-triangle-1s.pngConsider your exit strategy before buying the property even if the property is for long-term appreciation.

../images/blue3-triangle-1s.pngShifting markets provide buying opportunities for real estate investors. This allows the investors to obtain cash flows and sell their properties later when the values of their properties appreciate.

../images/blue3-triangle-1s.pngFind good bargains on rental properties by searching probate properties, bank-owned or real estate owned properties, sellers facing divorce or bankruptcy and properties on auction.

../images/blue3-triangle-1s.pngDetermine your investment strategy. Examples of investment strategies for rental properties include fix and flip, buy and hold as well as lease options.

../images/blue3-triangle-1s.pngIt may be easier to purchase houses in disreputable neighbourhoods but it will be difficult for you to retain tenants in such properties. Look for rental properties in reputable neighbourhoods.

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Short sale is another way to create real estate income from properties in the UK (Image by Freeimages.com)

Short Sale Property

Selling real estate in short sale usually means that the proceeds of the sale will fall short of the debts against the property. It's often used as an alternative to foreclosure. As a potential investor, keep these points in mind when acquiring short sale properties:

../images/blue3-triangle-1s.pngDo a comparable sales search before purchasing property on short sale because many properties on short sale come with mortgages higher than the properties themselves.

../images/blue3-triangle-1s.pngDetermine the number of liens attached to short sale properties.

../images/blue3-triangle-1s.pngLocate properties with approved sales prices. Such properties have been through the initial sales process, do not usually come with liens and are priced to sell.

../images/blue3-triangle-1s.pngAvoid blatant low-ball offers.

  Buying and Renovating Real Estate Overseas
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Beginner Landlord Mistakes

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Buyers Home Inspection

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Buying Property in the UK

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Buying Real Estate Overseas

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Buying Rural Property

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Buying Vacation Home Overseas

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Getting a Home Mortgage

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Homes on Star Island

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House Use Generator

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Investing in Senior Housing

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Investing in Rental Property

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Multiple Listing Services - MLS

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Negotiating Property Price

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Purchasing Property Overseas

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Real Estate Investing

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Real Estate Investing Mistakes

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Real Estate Investment

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Renovation Work Abroad

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Sell Your Home in the UK

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Selling Your Home Taxes

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Tips for Flipping Houses
     

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   Beginner Landlord Mistakes
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   Buying Property in the UK
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   Homes on Star Island
   House Use Generator
   Investing in Rental Property
   Investing in Senior Housing
   Multiple Listing Services
   Negotiating Property Price
   Purchasing Property Overseas
   Real Estate Investing
   Real Estate Investing Mistakes
   Real Estate Investment
   Renovation Work Abroad
   Sell Your Home in the UK
   Selling Your Home Taxes
   Tips for Flipping Houses
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