Exploring London's Luxury Real Estate (chapter 2 of 7)

Audio version of the article by Alexander Ovsyannikov, founder of Real Estate Group ( https://regr.biz/team-view/alexandr-ovsyannikov/ ). Exploring London's Luxury Real Estate: A Comprehensive Guide for International Buyers and Investors in Under-Construction Apartments (chapter 2 of 7).

Start in the first chapter (text, audio, video): http://regr.biz/our-articles/en-purchasing-luxury-real-estate-in-london-1/

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Chapter 2: Defining Your Property Requirements.

Buying an apartment in a London building under construction is a significant decision, and before you dive into the process, it's crucial to define your property requirements. Your choices will depend on whether you plan to live in the apartment or use it as an investment. In this chapter, Real Estate Group ( http://regr.biz/ ) will walk you through the steps to help you figure out your needs and preferences.

Section 1: Determining Your Purpose.

Before you begin your property search, it's essential to define your primary objective for buying an apartment in a building under construction. Here are the main purposes people typically have when purchasing such properties:

1. Living: If your intention is to live in the apartment, consider factors like the number of bedrooms, living space, and proximity to your workplace, schools, and other amenities. Your choice will heavily depend on your personal lifestyle and preferences.

2. Investment: If you're looking at the property as an investment, you'll be more focused on its potential for capital appreciation or rental income. Your property requirements may lean toward areas with high growth potential or features that make it attractive to tenants.

3. Hybrid: Some buyers aim to strike a balance between living in the apartment for a period and then transitioning it into an investment property. In this case, your property requirements should accommodate both living and investment considerations.

Section 2: Budget Considerations.

Determining your budget is a fundamental step in the property-buying process. When you're buying an apartment in a London building under construction, consider the following financial aspects:

1. Purchase Price: Decide on the maximum purchase price you're willing to pay for the apartment. Consider your financial situation and, if applicable, your mortgage pre-approval amount.

2. Additional Costs: Keep in mind that you'll have to cover various additional expenses, such as stamp duty, legal fees, maintenance and service charges, and more. These costs can significantly impact your budget.

3. Currency Excha...

Source (text, audio, video): http://regr.biz/our-articles/en-purchasing-luxury-real-estate-in-london-2/

Версия на русском языке: http://regr.biz/our-articles/purchasing-luxury-real-estate-in-london-2/

Listen to the continuation in chapter 3 (soon).