Common Problems When Moving and Buying a Home in London
With a lot to do and see and some of the most lucrative jobs in the country, it is easy to think that no one ever relocates from London, and this is true in most cases. The truth is that at least 57% of London residents decide to live in the capital when they acquire a new home. However, 43% of this population tends to end up moving out. Essex, Chelmsford, and Tonbridge are some of the common spots.
What’s Making Londoners to Move Anyway?
According to recent surveys of Mega Removals, the most popular views are the beach, small village views and the coastal landscape. People are not interested in viewing their fellow residents’ houses, industrial sites, or car parks. City life managed to come 7th on the list, hence business is a draw for some individuals, but it looks like many are keen on getting isolated from city life.
How to Sell Your Property if You Choose to Relocate
Surveys reveal that if you are looking to sell your home, you have the best chance in case you have got the central heating and double gazing readily installed. This appeared on top of the list for at least 72% of potential buyers. Other facilities people need are off-road parking, garden, and good security. A good number of people also indicated concern for the quality of schools available in the area and the size of the property. It was realized that 12% of potential home buyers were interested in property with at least 3 rooms or more.
Moving Home Cheaply
Mega Removals conducted a survey that indicated that moving cost is one of the many concerns of the homebuyers. Also, at least 50% of the homebuyers had to borrow money from banks and loved ones to cater to the moving expenses. Problems related to unexpected fees or failing to budget enough were the common challenges. Most people when asked admitted to the fact that they failed to get enough information regarding moving costs which is why they could not budget properly.
The boiler seems to be the biggest problem for people in a home. Most people reported broken boilers as the main repair issue that they had to deal with according to British Gas. At least half of the population reported that the encountered boiler problems at least once a year. Out of the 50%, one out of five had to wait for the boilers to be repaired before they reported to back to work.
Other main home repairs include bathroom renovation, plastering, and garden upgrade. The bigger projects are like loft conversions and extensions, but more than 60% of the people asked reported that they had to get into debt to have the projects done.
Who is Renting and who is Buying?
Among the young people, renting is the most popular option with 73% of people aged between 18 and 35 renting their home. Local government surveys suggest that one out of three millennials will never have the ability to buy a home. This is even worsened by the fact that the cost of rent in London is around £744 a month, which makes it almost impossible for most individuals to save up to 10-10% deposit that is needed to purchase a home.