The BREXIT poll result was a disaster for the property prices in UK at least initially and the impact of it was felt even in other countries like Spain where Britons constituted a large part of the buyers. However, the overall impact of BREXIT is yet to be over on the UK property market, but London property market has witnessed a rise at 5%. In other words, the prices of London luxury homes have started zooming out and likely to see a phenomenal growth in the near future. Therefore, it may be the right time to buy a luxury home in London today.
Key areas of London luxury homes:
- Architectural nuance: Architectural nuances of the London luxury homes are considered one of the important factors that impact its price. Therefore, you must have a fair idea about the designing nuances of a home that can be a worth investing. For instance, the front facade of the building, airy and well-lighted rooms, and the driveway etc. can be worth considering.
- Location: Some luxury homes may by default be available in the vicinity of the homes of the celebrities. As a matter of fact, the average price of those homes will be on the higher side. But, the crux is that investing in such a property can fetch a fortune to you. For instance, Notting Hill area is one of the favourite destinations of London actors. Similarly, Richmond (where Brad Pitt and Angelina Jolie once lived) and Regents Park are the places where buying a home will be a good investment for you.
- Infrastructure: The infrastructure of an area where you plan to buy a luxury home does count irrespective of the fact that you buy it for your own use or to let out the same for some steady income at the moment and a future investment.
You will be surprised to discover that some areas are not fully developed yet, but those have been included in the plan for development. Buying luxury homes in those areas will fetch good returns on your investment. For instance, 65 locations have been included in the ‘New Southwark Plan’ and proposals have been mooted for reopening the Camberwell Railway Station. Hence, the infrastructure of those areas can fairly be in the development stage at the moment and luxury home prices there may still be low compared to other prime areas of the London City. But, if you purchase a home there today, the value of the same home will get appreciated in a couple of years.
- Interior: Stuff like flooring, toiletry, furnished or semi-furnished conditions of a home contribute to its price. Hence, before committing to buy a luxury home in London, check the same in person for an on-the-spot review.
However, there is no hard and fast rule as to how you should go about the London luxury homes for an outright purchase. Apply your common sense before buying and don’t forget to consult your family and friends in advance who may have bought one in the recent past.