Location, location, location. There’s no doubt that many house-hunters out there have found the perfect property, but not rated the location. The big question is do you compromise on the location for the perfect house, or do you keep searching? We’re revealing your key considerations and gauging just how important location is when buying a house.
Is location everything?
Property prices
One of the key factors that can influence where you choose to buy a property are the prices. The more desirable a location is, the higher the prices. Cities tend to be more expensive, and London is well-known for being the most expensive place in the UK to buy property. You probably have a set budget of what you can afford to buy and if you’re struggling to find the right type of property for that price point, it could be worth broadening your horizons and considering another location that offers more for your money. Typically, the closer you get to London, the more expensive property becomes.
It’s also worth seeing how property prices have been inflating or deflating in areas you’re looking to buy. If you’re buying a house with a view to make money on it, then you will want to do your research on whether your property is likely to increase in value.
Crime rates
Areas with high crime rates tend to be cheaper to live in, but home insurance tends to be higher and for many a high crime rate is considered a deal-breaker when it comes to finding a home.
Jobs, transport, schools, amenities, etc
Other key considerations for your move might include having access to work, decent transport links and amenities. If you’re moving a family, you’ll want to research schools in the area and see if the location offers a family-friendly setting.
Personal preference
You may also want to choose somewhere that offers the lifestyle you’re after. Are you a city-lover who enjoys retail therapy and big nights out? Or do you prefer somewhere a little quieter that has plenty of access to outdoor spaces and activities? Maybe you like the best of both? Not all locations are created equal and if you know what you’re after, then this should help narrow down your search.
Whether you should compromise on location to be able to afford your dream home, or vice versa, is completely up to you.
Looking for a mortgage advisor?
Speak to Agentis today to arrange your free initial consultation to discuss your mortgage options and get professional advice to make your house move that little easier.
