NEW DEVELOPMENTS IN LONDON – OFF-PLAN IN LONDON

Buying off-plan in London can be the easiest way for first time buyers to get on the property ladder, developers of new developments in London usually build show homes first to give an idea of what properties will be available, buyers can choose the plot they want for their new property from detailed drawings, a small reservation fee is paid and buyers and developers agree on a time scale for exchange of contracts, once exchange has taken place on the new developments in London, the price is fixed and a deposit is paid and the balance paid in full on completion, the benefits to buying off-plan in London is that it can take up to two years to complete new developments in London, and with house prices increasing at a steady pace the value of this investment property in London will have increased even before its owners have moved in, other benefits to buying off-plan in London is that the building work is guaranteed for at least ten years.

Buying off-plan in London is beneficial to investors who want property to Let, an increasing number of Britons and more especially foreigners wishing to live and work in London are constantly on the lookout for property to rent, investors have seen this increase and acted on it with a number of them purchasing investment property in London, buying off-plan in London is beneficial to the investor as the rental potential on brand new property is much higher and the investor can be guaranteed an income. With a ten year guarantee on building work, new developments in London are virtually maintenance free another consideration when buying off-plan in London. Other investment property in London is older properties that are in need of renovation, many older properties are spacious with more than two floors, developers are able to renovate this investment property in London into two or three flats, so many of London’s terraced properties have been converted in to flats, selling three flats within one house is a greater investment property in London than if the house were modernized and sold as a family home, developers are catering for the high demand for investment property in London with rental potential.

Disused factories and warehouses are being bought by developers and renovated and converted into luxury accommodation, these new developments in London provide spacious and modern accommodation, the exterior of new developments in London are pleasing to the eye and fit in to the surrounding areas, the interior of this style of investment property in London is finished to a very high standard, modern kitchens with state of the art appliances and luxurious bathrooms, furniture is kept to a minimum, neutral colours are used on walls and large windows allow maximum light, many have a terrace, many top floor flats have the luxury of a roof terrace, the rental potential of these new developments in London is very high and investors are quick to purchase their investment property in London.