Seeking the best luxury property for sale in London UK isn’t just about finding a place to live, it’s about making every single one of your wildest dreams come true. Suffice to say therefore it isn’t quite as simple as the mainstream real estate purchase process which usually involves setting out a budget and then pretty much finding any place in any accessible location that will do. With transactions as large as these, there are unique complications to take into account and the process as a whole can be rather time consuming.
The good news however is that there are ways and means by which all such complications and involvement can be brought down to absolute minimums, in order to make the process more efficient and enjoyable. So fresh from the minds of those who live and breathe luxury property investment in and around London, here’s a quick look at the five most important steps to take on the journey to finding the home of your dreams:
1 – Know What You Want
First and foremost, as a luxury property buyer you are in a unique position to be as selective and demanding as you like when it comes to the specifics of the property itself. The simple fact of the matter is that absolutely nothing is out of the question, but at the same time nor can anything be taken for granted. As such, the first and most important tip from London’s leading experts is that of taking as much time as necessary to create an in-depth and comprehensive blueprint with regard to what you want. Searching for a luxury property without knowing exactly what it is you want is a little like setting off on a journey with no destination or map. If you want it or have ever dreamed of it, you can make it happen.
2 – Expect Competition
While it’s true to say that multi-million pound property investors technically represent a rather small proportion of the property investors looking to buy into London, this does not in any way mean that you will be the only buyer interested in any given property. Never forget that international property investors represent one of the biggest buyer markets in the whole of London who in many instances are looking for money-making opportunities rather than places to live. As such, it is a good idea to expect at least a little healthy competition when it comes to the place you are interested in as opposed to just assuming you are the only potential buyer and therefore have priority over everyone else.
3 – Be Ready to Wait
When it comes to budgeting time for the purchase process, it’s important to bear in mind that the sellers of luxury properties are often in anything but a hurry to close a deal. They may have plenty of properties for sale of which this is not their priority, it may take them any number of weeks or months to find a suitable property for themselves or they may even have not yet fully decided whether or not they intend to go through with the sale. Or in other words, it is a good idea to budget plenty of time and not to be in too much of a hurry to close the deal or move in as there can potentially be extensive delays between finding a place you like and actually rounding the deal off.
4 – Hire a Professional
When it comes to the process of searching for the right property and the mountain of administrative work that accompanies the endeavour, you technically have two ways of going about things. You can either set aside days, weeks or most likely months in order to scour the market, find a property you are interested in and begin organising the purchase, or you can hire a professional to take care of literally everything on your behalf. Perhaps the most important thing to bear in mind when it comes to hiring professionals is the way in which a huge proportion of luxury London properties are never advertised publicly and can only be tapped into if you know the right people. And as you probably do not already know the right people, chances are it will work in your favour to hire somebody who does.
5 – Future Developments
Last but not least, while it is something that your personal agent will take care of on your behalf should you choose to hire one, those taking the manual approach will need to look into any planned future developments around the area of their planned purchase. It’s no secret that new properties and developments are popping up all over London like mushrooms after a downpour, so you really don’t want the property of your dreams to be spoiled in a year’s time by an unsightly new development going up in rather too close proximity.