I had acquired a home for my clients about 12 years ago and they now wanted to buy their daughter a home in a safe area.
It needed to be at least 160 square metres, have three bedrooms and ideally some outside space. They were prepared to carry out work on the property or buy something newly developed.
While there were a few interesting opportunities, there was one that stood out. As I wrote to my clients, the positives are:
1 – A quiet garden square close to Sloane Square.
2 – 190 sq.m. so a good size with flexible accommodation.
3 – The first floor reception has high ceilings (over 3m) with large windows and views over the garden square. There is also a large kitchen with a conservatory dining area that leads onto a nice terrace. This layout is very rare in Chelsea because they have been able to extend the rear of the property further than is normally allowed.
4 – There are currently five bedrooms but I would rearrange these to create fewer but bigger rooms. This should be fairly simple to do and is really a question of the type of layout you prefer. There may be some planning permissions required but I will be able to advise if there would be any issues, once I know what you would like to do.
5- A further roof terrace off the main bedroom
6 – Access to the communal garden
7 – It has a 999 year lease.
However, as you will have noted from the photographs above and below of the flat, the property doesn’t look at all impressive. Indeed, the fantastic kitchen/dining room looks decidedly drab as does the lovely reception room.
This is why relying on the websites is one of the seven most expensive mistakes you can make when buying a property. It is essential you visit every property that matches your criteria. Yes, you will be disappointed nine times out of ten, but you will also uncover gems that others have ignored because the photos don’t look nice or the floorplan looks odd.
And I can understand why most buyers don’t visit these properties because 99% of the time, the photographs make properties seem much better than they are, hence the frustration that most buyers endure when they visit them.
But would it be unfair to say that if you are spending a significant sum of money on a property, then it makes sense to find the best property your money can buy? Unfortunately, this does involve undertaking a lot of due diligence in the form of inspecting properties – even those that look drab in the photos.
When the work is completed, I hope to have photographs to show you how fantastic this property really is.
These are the opportunities you want to find (assuming you will undertake building work).
So, if you would like to acquire the best property your money can buy and negotiate the lowest price possible, there are several tested and proven strategies & tactics you must use.
Whatever you do, please don’t become an estate agent victim by making any of the seven most expensive mistakes that buyers make, because not only will you not find the best property, you will also overpay for an average property.
To discover the traps you must avoid, would you be open to reserving a complimentary Strategy Call to discuss your plans to acquire a home or investment property in London? If so, simply call 02034578855 (+442034578855 from outside the UK) or email [email protected].
