First-time buyers in London face a crucial decision on whether to purchase a house or a flat. Prices vary significantly based on location, with flats in affordable areas starting around £250,000 and houses in prime areas exceeding £1 million. Buyers should also be aware of leasehold versus freehold properties, as most flats are leasehold, affecting ownership rights and potential future resale value. Careful budgeting and understanding of these factors will guide you in making the right choice for your first home.
Buying your first home in London requires careful consideration of property type, budget, freehold vs leasehold options, and potential long-term goals.
#first-time-home-buyers #london-property-market #housing-options #mortgage-advice #real-estate-investment
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