EXPERTS
Agony agent Readers put their property questions to our guest panel of experts: solicitors, mortgage advisers, property gurus and shared ownership providers
THIS MONTH’S PANEL OF EXPERTS
Simon Scott, Assistant Director of Commercial & Property Marketing, Origin Housing
Becky Munday, Founder & Managing Director, Munday’s Estate Agents
What to look for when house hunting? Q I’m looking for a new place in London, broadly within Zone 3. The task seems so big and I am keen to get the best value I can. What should I be concentrating on when looking for my new home? Zakia Palmer, Crystal Palace A I would say there are a few essential factors you need to consider, starting with how you will get to work if you need to commute into an office or elsewhere. Finding a place that’s near an easy route to work will definitely make your life less stressful. 1. Ideally you’ll be near a train or tube station. Bus routes shouldn’t be overlooked but trains/tubes will get you there fastest. If you are a cyclist, look for comfortable cycle routes. 2. How much space do you need? After a few viewings you will get a good feel for the size of place you are after. As a general rule, newer places will give you a cheaper price per square foot. Georgian/Victorian/Edwardian/1920s and 1930s places often carry a premium. 3. Is outside space important to you? Properties with gardens, terraces or shared spaces will be more expensive than those without. Buying near public outside spaces/commons/nature reserves can often be a smart move. 4. Ask yourself how important it is to you to be close to a high street/amenities? You will notice that properties are cheaper the further you are away from these. 5. How much appetite do you have for doing work? Although places that need work are cheaper, it is important to consider costs for what you will need to do once you have moved in. Many buyers decide that a turnkey property is the best option for them. 6. Is the property a good investment? This is of course difficult to answer, but a simple way to look at this is to consider issues around resale: for example, is it on a busy road or near a railway line? This might make a sale harder in a difficult sale climate. Ex-local authority properties are also harder to shift in a tough market (though they often offer good square footage and location). Also be mindful of high service charges and ground rents – ask for a breakdown from the estate agent or sales advisor and consider if they represent good value for money (it may also be a good idea to ask your conveyancer this question). Wishing you all the best in your property hunt!
Phillip Wellard- Hughes, Head of Sales, NHG Homes
TEST THE PANEL
We need your questions... If you have any queries, or dif culties in understanding the property buying process, our panel of experts is waiting to help. Send our team your questions on buying property, shared ownership, legal issues, or your nancial problems and we’ll nd the best person from the panel to give the advice you need.
Email your questions to: lynda@ rsttimebuyermag.co.uk
Becky Munday
90 First Time Buyer April/May 2024
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