For those who want to buy real estate in the U.K., there are many factors to consider. In this article, we’ll present some important information about how to find houses that are both affordable and attractive. So, read on to learn the basics of buying real estate property in the British Isles.
Real Estate Prices in the U.K. Can Vary By Region
Buying real estate in the U.K. is a straightforward process. Although properties in the south usually carry a higher price than those in the north, it’s still possible to find attractive values just about anywhere in the U.K. Buyers should know, however, that real estate buying and prices can vary considerably, not only from north to south, but also from east to west. Here are few very general examples:
Some Pricing Examples
For a semi-detached home in the north, whether residence or investment property, you can expect to pay about £60,000. Semi-detached housing is a type of construction in which two houses are built side-by-side but share a common wall between them. The floor and room layout of one house is the mirror image of the floor and room layout of the other. Semi-detached homes are especially common in the suburbs. Semi-detached prices in the southeast are quite a bit more expensive than homes in the north at about £110,000. In the southwest, prices are somewhat less expensive, with about £80,000 being the norm. Homes with cottage type styling are always in high demand. These charming homes have prices from £85,000. Detached homes can cost from £140,000 to £600,000. Finally, city apartments, especially if located in London, usually start at £200,000. Waterfront properties are even higher. Overall, the average residence price in the U.K. is well over £90,000, an important figure to take into account when buying your home.
Best Locations to Buy U.K. Real Estate
Favorite locations to buy real estate in London include Mayfair and Knightsbridge. For those who want a more rural or suburban setting, good choices are Devon and Cornwall in the west as well as the Lake District, Wales and Scotland. Buyers should also think about the cost of living when considering real estate investing. For example, a couple with 2 children can expect to spend about £105.00 per week on food and drink, about £125.00 on housing and about £35.00 on transportation. When taken together with other factors like childcare costs, social and cultural activities and clothing and footwear, a typical family in the U.K. will spend an average of £435.96. Although these costs can vary by location (with London and environs being the most expensive), potential buyers should consider them when reading realty listings.
Buying Real Estate in the U.K. is a Good Investment
For those who intend to buy real estate in the U.K. there are many housing options that are sure to appeal to a variety of buyers.
Ian Clark is a real estate consultant and advisor in UK. He has extensive experience in all aspects of Real Estate Investment built over 20 years . He is also the Director of Midas Estates, an online real estate website offering property investment opportunities in UK and overseas. Midas Estates is a property investment company dealing with selling and Buying Real Estate with an aim to provide maximum capital growth for the clients as the majority of the clients are looking to secure financial security in the shortest time possible. Ian’s honest presentation of the real estate investing business, including both profit and risks is respected for his sincere, candid approach. He is highly regarded as one of the most sound, dependable source for the specifics behind the sometimes tricky and exigent facets of real estate investing.
To get more information and for a 30 minute no obligation absolutely free consult in how to make your property investment strategies work log on to http://www.midasestates.com/real-estate/.
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