6 Absolutely Affordable Neighborhoods to buy a house in London
Buying a house in present-day London is no easy task, but with this definitive guide to securing the best properties in the most affordable area- we promise to break down and simplify the house hunting process for you, once and for all!
The real estate market has been on the rise and the numbers soar higher and higher with the passing time. However, if you’ve made up your mind about securing yourself the perfect abode, we have a comprehensive guide to the best neighborhoods in London that allow you a chance at owning a humble abode of your own without pinching the pocket too hard! According to the latest UK House Price Index (HPI), the places we are about to disclose just might be your one true shot at being a proud homeowner!
- Bexley- With the latest budget on average house prices wavering somewhere around approx.£342,993, Bexley, a south-eastern borough in London is considered to be one of the top picks for affordable neighborhoods. The borough is surrounded by Greenwich on the west and Bromley to the south and a Crossrail service from Abbey Wood station is expected once the line starts plying. However, the housing price has experienced a 4.3% hike in this area according to the new 2019 statistics, so we suggest heading over to Bexley immediately if you don’t want to miss out on a steal deal.
- Greenwich- Neighboring with Bexley is the borough on the banks of river Thames which too has been listed as one of the top preferred locations to buy properties. A borough overlooking the bespoke Greenwich park with the Royal Observatory and more, houses here would typically have an average cost of £372,803. Named after the World Heritage Site of Greenwich, this borough packs in quite some interesting attractions which makes Greenwich an appealing choice for a forever home.
- Barking and Dagenham- Also located on the Eastern parts of London is the Barking and Dagenham borough continues to be one of the cheapest parts of London where you can make your dream come true with the average housing cost priced at approx. £300,517. The Barking and Dagenham continues to provide homeowners great value for money deals with the location having outstanding transport links connecting your neighborhood to Central London.
- Croydon- Real estate experts have been really excited about properties in Croydon, especially since the price dropped a little since last year making Croydon one of the most favorable places to own a house of your own. If you’re wondering what the pocket pinch is, the average home would be something around £359,336 but with the ever-improving facilities, this metropolitan town south of London is regarded as quite a deal. What’s more? Croydon, being considered one of the largest commercial districts apart from Central London, has an extensive shopping and night-time economy waiting for you.
- Sutton- Yet another southern wonder in London, Sutton is a large town with the schools in and around it boasting the best results in any of the boroughs in Greater London. If you’re a growing family looking to buy a bigger place, Sutton is the place to consider the average housing costs being somewhere around £368,520. Along with an attractive family growing opportunity, Sutton is also perfect for families who want their children to be a part of Sutton’s best educational institutions.
- Hounslow- Another great option for growing families looking for upsizing is Hounslow in West London, a borough that has a diverse range of housing and property options duly waiting for you to explore. With the average housing cost being around £404,615 approx. The area stretches from Chiswick, East to Bedfont, West and has been undergoing proactive development in the recent years.
Apart from these, you can also find great deals on properties in Hillingdon, Havering, Enfield, Newham, and more.
Here’s how you can decide whether the location chosen by you is perfect or not
With bigger home comes bigger responsibility and that is exactly why you should consider these pointers before indulging in the neighborhood of your choice.
- Convenience is crucial and we don’t just mean grocery stores and chemists in and around the area, but also the convenience of living in a particular borough or community. Before finalizing a place, we suggest you take more than one visits, preferably, at different parts of the day (or maybe even night) to get a more elaborate idea of the neighborhood you’ll be settling in.
- Background checks are necessary too. Do a background check on the house, the soil it stands on, the London letting agents willingly trying to sell the house to you, and more. Homework regarding the price ranges too would be an added advantage.
- Pre-check your home before moving in. We know how exciting it is to finally have the keys to your dream home in your hands, but maybe, a little pre-check before the whole settlement won’t hurt. From termite checks to leaking pipes and whatnot, a careful breeze through of the property would be a good idea.
- Compare before settling in. Lastly, it is always a good habit to compare not just the budget but the convenience, distance from school or workplace, and more and hence, don’t just settle for the property of your choice. Keep your mind flexible and your budget tightly knotted and look for variations and alternative options before finalizing.