How to find your dream property in London
Moving to London, it’s the dream, isn’t it? Oh, the endless socialising you’ll do after a productive day in the swanky office you’ve moved there to work in. Ok, your London life might be everything you ever hoped for, but what are you going home to? In your dreams a penthouse apartment with a roof terrace and a SATC-style walk in wardrobe. In reality? More likely a pokey little place you’re paying far too much rent for given you didn’t like it in the first place, but it was the only flat you could find in the limited time you had.
Yes, the reality is that London can be a nightmare to find property in. In fact, according to the Global Property Guide, London is the second most expensive city in which to buy property in the world, behind the much smaller tax haven of Monaco. Demand for property continues to outstrip supply in the UK capital, and foreign investors remain a significant part of the London property market. Let us give you an example: a new development in Canary Wharf sold its 230 proposed flats in five hours, meaning if you had been thinking about moving to the City you’d already missed your chance before the apartments were even built! Clearly it’s painfully difficult to find your perfect property for either your own home or an investment. So, what should you do?
Use a property finder!
A property finder, or buyer’s agent as they are commonly referred to in the US, is a relatively new idea for UK homebuyers and investors, but we can promise you it’s not just for the uber-wealthy who have plenty of cash to splash on their new condo. There is a cost to using someone to find your house (usually 1%-2.5% of the purchase price) and it is something you can do yourself if you have the time …but if you don’t have the time (hello, full time job to hold down over here!), there can be some distinct advantages in using a property finder:
Time:
You can leave your property finder to do all the research and viewing of properties. They’ll narrow it down and just show you a shortlist of the most relevant properties that meet your given criteria, so no more time wasted leaving work early to view a house that definitely wasn’t worth it.
Local knowledge:
If you’re moving to a new area, your property finder will either already have local knowledge, or is tasked to research it as part of their brief.
Expertise:
The property finder knows the current market and can recommend what sort of offers to make, so they could end up saving you more than they cost!
Acting for you:
The estate agent selling the property will always say that they’re going to find you their dream home. The caveat they often forget is ‘…as long as it is on the market with us so we get a fee!’ A property finder shouldn’t be tied to any particular estate agent and will scour the whole market for your perfect property, whereas the estate agent is acting purely for the seller.
Contacts:
Property finders already have contacts in the industry and can find ‘off-market’ properties or get their clients in first to see newly available property. This can be invaluable in a quick moving market!
Who do property finders act for?
Generally they act for three types of clients:
1. Clients who do not have the time to search for their property themselves and would rather somebody else do it for them. Every successful businesswoman knows delegation is a vital skill to have!
2. Clients looking to move into an area they don’t know. For example, based outside of the UK but moving into London for an impressive new job.
3. Clients who have a very particular criteria which is hard to find. i.e. must have an all-night concierge and its own mini spa!
I want to use a property finder, what do I do next?
Give Charisma Property Finders a call on 020 3500 0231 to discuss your criteria and how they can help!
