For many people across the world, owning a house is a dream which they strive to achieve as quickly as possible, especially given the rate at which house prices are rising. The average price of a house in the UK as of January 2018 is £225,621, an increase of 4.9% compared to the previous year. As such, buying a house is a serious investment and one which must be carefully planned out. Here are some of the ways you can find the best house for your individual budget.
It may seem obvious, but location is one of the most significant influencers of a property’s price. Properties in central London, for instance, are unaffordable to all but the wealthiest people, whereas similar properties located further away from the centre come at much more attractive prices.
To get a decent house for your budget, it is worth considering properties which are a little further out, as you may be surprised at what will be within your price range. It is also worth remembering that average house prices can vary massively depending on which area of the country/cities you look at.
Houses have been sold on auction throughout history, and continue to be sold at auction houses around the country. Whilst auctions can seem fairly daunting at first, especially when dealing with such large amounts of money, they can also contain some true property gems at more affordable prices.
If looking for a property at an auction house, you must have a strict budget in order to avoid spending more than you can afford. You may also have to attend multiple auctions before you find the right house.
One crucial part of getting a good house for your budget is the art of negotiation. Asking prices for houses are rarely non-negotiable, and can be well above the house’s actual value anyway. It may well be worth putting in an offer which is lower than the asking price for certain properties, including houses which may be slightly out of budget.
Before doing so, you may want to ask the estate agent how many viewings the house has had, and how long it has been on the market, as these factors are likely to have an impact on the seller’s amenability to a reduced offer.
Finally, you may want to consider moving country to get a truly decent house for your budget. This will, of course, depend on personal circumstance, but some countries do offer much more bang for your buck when it comes to purchasing a house.
This requires a good amount of research, as well as the need to apply for a visa and sort out all other legal necessities first. When all is said and done, it could end up saving you a fortune in the long run.
There are many options available to those looking for a good house within a certain budget. Be sure to seek advice if needed, and be as open minded as you can in your quest for the perfect property.