It’s a well-known rule that, when it comes to buying a home, you should always choose an area over quality. After all, boroughs like Kensington and Chelsea will always hold their value, and a house can always be touched up. However, a recent article in The Guardian, showing a garage near Camberwell selling for £550,000, has demonstrated that location is also more important than property size. A Chelsea estate agent is about to tell you why…
Good Locations Hold Their Value
When the recession hit, property prices across the UK plummeted. However, areas of value weren’t hit as hard, and areas such as Kensington and Chelsea saw their property values increase. If times get tough, it’s great to have a house you can profit from.
International Buyers Love Exclusive Addresses
Some locations, especially in London, are renowned for their exclusivity. As wealthy international buyers increasingly see UK property as a good investment, your location could fetch a price you never imagined possible. When you eventually get to the lap of luxury, you’re likely to forget you ever lived somewhere small.
You’ll Feel Safer
One of the harsh realities of life is that poverty attracts crime. While cities like London will never be crime free, picking a good street in a good borough is a safer option than most. It doesn’t really matter how small your home is, as long as you can sleep at night.
You’ll Feel Better About Yourself
Studies have proven that where you lift has a huge impact on how you feel. As you spend most of time in, near, or commuting from your home, this only makes sense. No matter how small your home is, you can take pride that you live in a great neighbourhood. This feeling of self-worth is likely to flow on to your work and family life.
You’ll Have Curb Appeal
When it comes to selling your home, curb appeal counts for a lot. Areas like Kensington and Chelsea are synonymous with status, and this will always attract buyers. Chances are you’ll also be surrounded by very attractive properties, which will leverage your chances of getting a good price.
You’ll Have Less Home to Maintain
The UK abounds with people who live in stately homes they can’t afford to maintain. With rising energy prices, and the sheer hard work involved in maintaining a large property, small and even tiny houses have surged in popularity. Choosing a good location for your small house gives you the chance to capitalize on this trend, while having the luxury of a good address. With the trend toward small properties predicted to increase, owning a small home in a good location is the ultimate in future-proofing.
Location should always be the most important factor when moving home. Even if you think you’re not in the market, it never hurts to do some research. Who knows where you might end up?