x What is important to you as a first-time buyer? - SheratonLaw

What is important to you as a first-time buyer?

You would think that every first-time buyer has the same criteria. That they are excited to get on the property ladder and want to stretch themselves as much as they can to get the best property. However, I have found over the years I have been in the business; each buyer has their own set of criteria which is important to them. With the stamp duty holiday being extended until June we expect more buyers than ever to be looking to buy; so, let’s consider what the ideal property might be for them:

  • Is it all about location for you? Certainly, a good location can add a lot to a property’s value. Therefore, for many it’s all about the distance to the underground. While you can be flexible on some aspects, you will not consider a property that is less than a five-minute walk from the Underground for the morning commute. (Once things get back to normal) If this is you perhaps you should consider the property below. A superb studio flat with a share of the freehold, less than three minutes’ walk from Clapham Common Underground on at £289,950.
  • Around Clapham, for many it is being located close to the Common, a few minutes’ walk away from where you exercise and socialise. Being located close to a popular park has been shown to add at least 10% to the value of a property and makes it more attractive to buyers. If this is for you then you may be interested in the below property located on Victoria Rise, a one- bedroom flat minutes from the Common on the market at £440,000.
  • Is it all about living in London for you? This is your first home, and you want to live in the midst of all the nightlife and shops. You are happy to live in a slightly noisier location if it means you are on the doorstep of all the amenities. Often as well, if you are happy to live on a busier road you will find you get more for your money. If this is the case the property, we have on Clapham High Street, a two double bedroom split level flat on the market at £499,950 may be ideal for you.
  • With the recent pandemic, is the main criteria for you to have a garden. Would you compromise on space in order to have that private outside space where you can relax in the Summer? I would say certainly around Clapham this is high up on buyers lists. With the recent lockdowns’ this has become even more important and certainly makes a property more re-saleable. If so, you may be interested in this stunning one-bedroom garden flat ideally located a short walk from Brixton which has a superb garden on at £475,000.
  • Is your driving force to get as much sq.ft as possible in a nice well-maintained block? Are you flexible on not having a garden and being slightly further afield if you have the space, especially if you might let the second room? If this is the case, you may be interested in the below two double bedroom split level flat located in a small block near Wandsworth Road at £485,000.

All of the above points are important to different people depending why they are wanting to buy. Now is a great time to buy, with the extension of the stamp duty holiday you have until the end of June to buy your ideal purchase and save yourself up to £15,000. To look at the above properties in more detail and some other similar properties please visit the sales section on our website www.sheratonlaw.com