Getting on the property ladder is tricky enough in the first place, and the chances are, your first home purchase would have been influenced by your work, the location of family or simply what you could afford at the time. When it’s time to make the next move, though, there may be extra considerations. Let’s look at four factors affecting your ascent up the property ladder. When you’re considering your next property, you need to consider how your life is likely to change in the coming years. Will you need more room, or less? If you’re planning on starting a family, will you need to be near schools? How important is a garden for you? What’s the area like? The property itself is important but for many, location takes precedence – you can improve a house but you can’t move it! Make a property wish list with ‘essentials’ and ‘potential compromises’.
Key Takeaways:
- It was easy to become a self-proclaimed expert in a market where values grew 441 per cent from 1995 to 2015, despite the global financial crisis.
- Now that inner London prices are on a plateau, picking future hotspots is a bit trickier. However, transport improvements are a good indicator
- Forecasting is an art in itself but it’s important to note that significant infrastructure improvements are often behind the outperformance of a local area
“During the late Nineties this downtrodden East End borough was full of low-value housing stock”