Every location has a variety of positives and negatives. These are factors that prospective homeowners must weigh up before they commit to living in the area. London is the capital city, which means that is a vibrant place filled with things to do. This area has some of the best pubs, restaurants, and shopping facilities in the country. Therefore, you will love living here if you want a fast-paced lifestyle.
However, nothing in life is perfect. There are some common issues that you may face when you buy a house in London, and they may prevent you from deciding to invest in property in this part of the country. Most of these issues are easy enough to fix if you know what these problems are, so keep reading to learn more.
House Prices
You can’t look at properties in the capital city and not expect the price of housing in the area to be higher than in most other locations. However, London house prices seem to be in a world unto themselves.
The internet is full of memes and articles that chastise the astronomical prices for properties in London and for good reason. The average price for a property in London is £523,666 as of March 2022. This price has gone up 4.8% in the last year and is expected to rise again in the near future. house prices of this magnitude require potential homeowners to save up at least £50,000 as an initial deposit, an achievement that is out of reach for most people. What’s more, you also need to prove that you can afford the monthly mortgage payments. As such, only the highest earners can even afford to live in this part of the country, to begin with.
Cost Of Living
The cost of living is a concern for a lot of people up and down the country; however, it is a bigger problem in the nation’s capital. The cost of living in an area refers to how much money it will cost you to live to an average standard. Essential food, rent, fuel, and the price of bills are all considered when it comes to the cost of living, and these goods cost more in London than anywhere else in the country.
In fact, experts estimate that citizens living in London must be earning £50,000 per annum or higher to live comfortably. Since the average wage of people living in the UK is £25,971, life in this part of the country isn’t available to the average worker. Therefore, prospective homeowners may need to look elsewhere for a property.
Weather
On a different note, the whole of Britain is renowned for its less-than-desirable weather patterns. All Brits joke that summer only lasts a week in the UK, and people traveling from overseas may be perplexed when they realise that this statement is closer to the truth than they may have initially believed. As a result, you may face some issues when buying a property in London.
London receives about 615millimetres of rain per year. While this is a similar amount to a lot of other European cities, it can create some problems for homeowners. One of these problems is flooding. London’s streets aren’t built to deal with this amount of water, so flooding can occur from time to time. This means that you may have to make other travel arrangements or protect your home with a damp course.
Plumbing
One of the biggest strengths of the houses in London is their age. Most of the homes in this part of the country were built in the Victorian era, which gives them a classic architectural design with strong foundations. However, there is a downside to buying an old house.
Waterpipes are an essential part of a home, so much so that you need to look after these pipes and replace them on a regular base. Sadly, older pipes are more prone to being misshapen during the colder months and this makes them susceptible to leaks. Leaking pipes are easy enough to deal with. All you need to do is get in contact with a local plumber in London. Just head to My Builder and look them up through this search tool. Unfortunately, pipes that are prone to leaks are not on the top of a homeowner’s list when they look at properties. Therefore, you may need to fix or replace these pipes when it is time to resell.
Garden Space
A common problem with a lot of cities is a lack of space. Housing planners need to create enough liveable places to accommodate the high number of residents the city is expected to receive. This means that they are more likely to build upward rather than outward.
The city of London is no different, and the most popular type of home in this area is a flat or apartment. There are a lot of advantages to buying one of these accommodations, but sadly they do not come with a garden. Anyone with a green thumb will be unhappy to hear this news, but you are highly unlikely to own a garden when you buy a home in London. You can invest in potted plants to give your home a green touch, but this is all the gardening most Londoners get to experience.
Noise
It should come as no surprise to you, but London is a busy place. People are always in and out of the city for work, and the capital attracts thousands of tourists each year. In fact, the city of London receives an average of 30 million visitors each year. That is a lot of people clogging up the streets, something that is going to cause a lot of noise pollution.
Most London homes are built with solid, double-glazed windows to drown out this level of noise. However, homeowners in the city centre will be bombarded with a variety of sounds the second they leave the house. What’s more, you may have to live with your windows closed during the day.
Traffic
Lastly, London is famed for its great transport links. The tube is an underground miracle and people across the globe are familiar with the iconic red bus. Unfortunately, London is not the best place for drivers.
You may need to drive for work or just to get out in the countryside for a while. However, London roads are famously congested throughout the day, so much so that the government introduced the congestion charge to try and reduce the volume of cars entering the city. This proposal has worked to some extent, but London’s roads are still difficult to drive on. If you are thinking of moving into the city, you may be better served selling your car and utilising the great transport that the city has to offer.
Conclusion
This article may seem like London is a place that is filled with doom and gloom, but the reality is the complete opposite. London is great place to live and work, you just need to be cautious of some of the problems that you may encounter. These are easily fixed, and London may just be the best place to buy a home if you enjoy an upbeat and varied lifestyle.
