10 Things to Consider When Buying a House in London

Posted in Jan 22 , 2022

If you’re looking to buy a house in London there are a few things you’ll need to think about before committing. Here we list 10 things to consider before taking the plunge and making a purchase.

1. Find Out Your Budget

It’s amazing how many buyers start viewing properties before they’ve even found out what their budget is. Many buyers have a vague idea and start looking well before getting the finance in place, only to find out they can’t borrow as much as they thought.

So, before you start viewing properties in London and putting in offers, get in touch with a mortgage advisor to find out exactly how much you can borrow.

They’ll also be able to tell you how much your monthly repayments will be, which will allow you to work out how much disposable income you’ll have left each month.

2. Have Your Finances in Place… And Factor in Additional Costs

If your money is tied up in long-term funds or accounts then it may not be easy to access immediately, so make sure you give yourself plenty of time to get your funds released, and ideally transfer it into an instant access account when you’re ready to make a purchase.

It will save a lot of potential aggravation further down the line and will help to speed up the process if you have your funds readily available.

Another thing to consider is the additional costs that come with buying a property. Things like conveyancing fees and removal costs are unavoidable, but you’ll also want to think about items you’ll want in the property, such as furniture, electrical appliances, carpets and so on. After all, there’s no point in blowing your budget on a property if you can’t afford to furnish it!

3. Find the Right Location

Think about your current circumstances as well as your future ones. Do you need to be close to a train station? Is there a primary school close by?

Different buyers want different things when it comes to location, so think about what’s important to you and what’s not so essential.

4. Consider Outside Space

The recent Coronavirus pandemic has changed a lot of people’s attitudes towards what they’re looking for in a property, with gardens being a huge positive for buyers.

You might not consider a garden to be essential, but having an outside space, even if it’s a small courtyard or a communal area can be very beneficial to your mental wellbeing.

5. Think About Office Space

It’s not just gardens that have become more important to buyers during the pandemic. With millions of people now having the option to work from home, properties with home offices have seen an increase in demand too.

So, if you’re one of the many people who’ll be spending more time working at home in the future, then a property with a study or the space for at least a desk may be perfect.

6. Does the Property Have Potential?

It’s worth considering what value you may be able to add to the property in future, or what a future buyer may see in it.

For example, is there space to add an extra bedroom or a conservatory? And if you’re only planning to own the property for a couple of years before moving on, is it likely to increase in value? Does it have good transport links or new facilities being built nearby for example?

7. What Condition Should the Property be in?

Are you looking for a house in London that’s ready to move into tomorrow, or are you happy to spend time and money bringing it up to scratch?

You’ll need to consider these options when you’re looking around and potentially adjust your budget accordingly.

8. Find a Good Conveyancer

You don’t need to have a conveyancer in place before you start viewing properties, but the earlier you find one the smoother the process will be.

Get several quotes and ask family and friends and your estate agent if they can recommend anyone. A good, recommended conveyancer will help to keep the whole buying process as stress-free as possible.

9. Understand What’s Included

Try and find out which fixtures and fittings are included as soon as possible in the buying process, as it will allow you to work out if you need to budget for anything extra.

For example, appliances such as fridges, freezers and washing machines will probably not be included as part of the purchase, which could lead to several hundred pounds of additional costs to consider.

10. Keep Your Spending in Check Before You Buy

Remember, if you’re taking out a mortgage, your lender will be taking a deep look into your finances. Therefore, it’s a good idea to get them in check before starting the whole process.

Don’t go loading up your credit card with purchases, and if you’re able to pay off debts or make them more manageable, it will go a long way to helping you get approved for a mortgage.

Cribs Estates Ltd are your local property experts for the London area. Call us on 0203 441 1571 or email info@cribsestates.co.uk to chat with a member of our friendly and experienced team.

Shared on social media

Comments

Enquiry form

Latest Blogs

Block Managing Agents: Do You Really Need One?

If you recently owned or started managing your small building with a few flats, it’s easy to think you can handle everything yourself. On paper, it will not look complicated.But this is exactly where most landlords get it wrong.Managing a building with multiple flats is not just about collecting payments or arranging the odd repair. It involves legal responsibility, financial management, and dealing with people, all at the same time.That’s why many owners eventually start looking for managing agents for small blocks of flats or professional block managing agents.The real question is not if you can manage it? It’s about spending the time that is worth spending on building a portfolio.Small Blocks Are Not as Simple as They LookWe hear a common assumption from our clients in the beginning: It's only 3-5 flats, how hard can it be to manage them? In reality, small blocks can be more challenging than large ones. Why? Because everything is shared:Communal areasMaintenance costsResponsibilities between leaseholdersEven something simple like fixing a hallway light can turn into a discussion about cost, responsibility, and timing.What Happens When You Try to Manage It YourselfMost landlords begin to self-manage, which initially seems manageable. Then things start to stack up, and you find yourself: Chasing service charge paymentsOrganising repairs between multiple ownersDealing with complaints or disagreementsTrying to understand lease termsHandling paperwork and complianceIt quickly stops being a side task and becomes something that needs constant attention. And another issue that arises is the dependency of everything on you. The Legal Side Most Owners UnderestimateThis is where things get serious. When you’re responsible for a block, you are not just organising tasks; you are legally accountable. This can include:Ensuring building insurance is in placeMaintaining safe communal areasFollowing fire safety guidanceMeeting leasehold obligationsMany owners don’t realise how much responsibility sits with them until something goes wrong. And when it does, it can quickly become expensive.Where Problems Usually StartService charges seem straightforward: collect money and pay for maintenance. But in practice, this is one of the biggest pressure points. Common issues include:Leaseholders not paying on timeDisagreements over what is “fair”Unclear budgetingLack of transparencyEven one unpaid contribution can create tension across the entire block. And if things aren’t handled properly, it can damage relationships between residents and affect the building overall.Repairs and Maintenance Are ExpensiveWith a single property, you make decisions quickly. In a block of flats, it’s different. Questions start to come up:Who approves the work?Which contractor should be used?How is the cost shared?What if someone disagrees?Delays are common, and small issues can become bigger problems if not handled early. This is where many landlords realise that managing a block is not just about fixing things, it’s about coordinating people.Disputes Between LeaseholdersThis is rarely talked about, but it’s one of the biggest challenges. You may have to deal with:Noise complaintsDisagreements over costsMaintenance responsibilitiesCommunication breakdownsAs the person managing the building, you often become the middle point. And without experience, these situations can become stressful very quickly.What Block Managing Agents Actually DoThis is where block managing agents step in. Not as a luxury, but as a structured way to manage everything properly. A good managing agent will:Collect and manage service chargesHandle maintenance and contractor coordinationEnsure compliance with legal requirementsCommunicate with all leaseholdersKeep records organised and transparentCost vs Risk: Is It Worth Doing It Yourself?This is the decision most landlords eventually face. Yes, hiring managing agents for small blocks of flats comes with a cost.But compare that with:Time spent managing issuesRisk of legal mistakesDisputes between residentsDelayed maintenanceFinancial mismanagementIn many cases, the cost of getting it wrong is higher than the cost of getting it managed properly.Stay in Control with Cribs EstatesCribs Estates work with landlords and freeholders who want their block to run smoothly, without the constant back-and-forth. Our team assists you in structuring service charges collection and tracking, coordinates repairs and maintenance on time, keeps the communication clear between all parties, and ensures compliance requirements are met. The goal is to remove the stress that comes with it. Speak today to discuss your project.

HMO Landlord Responsibilities: What Most Landlords Overlook

If you’re among those landlords who are renting out a shared property, then you must know about the HMO landlord responsibilities. Like many landlords who move into HMOs thinking it will increase their rental income without doing much from their side, you may get a surprise when you find out it’s not true. In reality, the rules become strict, risks are high, and there is more day-to-day management stress. The problem comes when many landlords don’t know what they are actually required to do until they get a notice.When Does a Property Become an HMO?A property is classed as an HMO (House in Multiple Occupation) if:At least three tenants live thereThey form more than one householdThey share facilities like a kitchen or bathroomThis means you don’t need a large property to fall under HMO rules. Even a small house with three unrelated tenants qualifies.Many landlords become HMO operators without realising it, and later face issues. HMO is Not a Standard RentalYes, it is a regulated setup that landlords have to deal with. Local councils treat HMOs differently because sometimes tenants can pose safety risks. With shared living, the number of wear and disputes increases, and poor management can affect neighbours and communities.So your role changes from simply renting a property to actively managing a multi-tenant environment.Where Most Landlords Get It WrongNormally, landlords get confused here because the rules vary with borough, and what applies to one area will be different in another. There are three main types of HMO:A mandatory licence is for properties with 5 or more tenantsAdditional licensing is set by local councils for smaller HMOsSelective licensing applies to all rentals in certain areasIf you get this wrong, the consequences are serious:Fines of up to £30,000Rent repayment ordersRestrictions on renting your propertySafety Responsibilities You Cannot IgnoreHMO safety standards are stricter than those of standard rental properties. You are responsible for ensuring:Fire doors are installed where requiredSmoke alarms are fitted and workingEscape routes are clear and accessibleGas safety certificates are updated annuallyElectrical checks (EICR) are carried out every five yearsAnd you need to remember that these are not practices to consider, but legal requirements. Failure to meet these standards can lead to enforcement action or even criminal penalties.The Challenges of Managing Multiple TenantsWith more tenants, you get more income, but many landlords forget that it brings its own challenges as well. You will have to handle the disputes between housemates, share the responsibility issues, handle noise complaints, and deal with higher turnover. Unlike a single tenancy, you’re managing multiple relationships at once. So you will need to work double time to work it all out. Rent Collection in HMOs is a Big AskThe majority of landlords who are working with Cribs Estates were facing challenges with rent collection. Why? Because if you’re starting an HMO, you will deal with multiple tenants paying separately, some would ask for a couple of more days, some would pay upfront, whilst you would have to keep on following up with some. Moreover, the payment dates will be different for each, so you will have to manage them all, and also keep a check on which payments have already been received and which are still pending. All of these tasks require time, lots of it! This is why many landlords move towards reliable rent collection services like Cribs Estatesas part of their HMO management.Maintenance and Property StandardsHMOs experience more wear and tear than standard properties.More tenants mean:Faster deterioration of shared spacesMore frequent repairsHigher expectations for cleanliness and upkeepRegular inspections become necessary in such cases to maintain standards and avoid complaints. Ignoring maintenance will only increase the risk of council intervention.Read More: Stamp Duty Changes 2026The Real Risk: Fines, Claims, and Legal ActionOftentimes, landlords don’t consider this until it’s too late. Failing to meet HMO landlord responsibilities can result in:Civil penalties of up to £30,000Rent repayment orders (returning rent to tenants)Difficulty regaining possession of the propertyLegal disputes and reputational damageEven small compliance mistakes can escalate quickly. This is why HMOs are often seen as higher-risk, higher responsibility investments.We Help You Stay in ControlManaging an HMO successfully is about keeping everything running properly, legally, and consistently. At Cribs Estates, we help landlords reduce risk and simplify the process by handling the areas that matter most:Licensing guidance to ensure your property meets local council requirementsTenant management to handle communication and reduce disputesStructured rent collection so payments are tracked, consistent, and reliableMaintenance coordination to keep the property in good conditionCompliance checks to ensure all safety and legal obligations are metThe goal is simple to protect your property, your income, and your time. Get the right support early and save yourself time, money, and stress.Read More: Estate Agents in Richmond

Renters’ Rights Bill and Landlord Repossession Surge: What It Means for You

If you’ve been following the news around the renters’ rights bill landlords' repossession surge, you’ve probably noticed that more landlords are acting now rather than waiting.This isn’t random. It’s a reaction. Across the UK, landlords are moving to regain control of their properties before the new rules take effect. With Section 21 set to be abolished from May 2026, the way landlords handle repossession is shifting completely.The question is not just what the law says. The real question is: What does this mean for you as a landlord right now?Why Landlords Are Repossessing Properties NowRecent figures show that landlord repossessions have already started rising, even before the law fully changes. Some reports suggest increases of around 3% to over 6% year-on-year, depending on the dataset.What’s interesting is that this rise is happening even as some possession claims have fallen. That tells you something important: Landlords are being more selective and more strategic.Many are choosing to act now because once the new rules fully apply, regaining possession of a property will become challenging, as it will depend on legal processes.What the Renters’ Rights Bill Actually ChangesThe biggest change in the renters’ rights bill is this: Section 21 “no-fault eviction” is being removed. This means landlords will no longer be able to ask tenants to leave without giving a legal reason.Instead, all repossessions will need to go through Section 8 grounds, which require justification such as:Rent arrearsBreach of tenancyLandlord selling the propertyLandlord moving back inOn paper, this sounds fair, but it changes how much control landlords have over their property.Why This Is Causing a Repossession SurgeWhy renters’ rights bill landlords repossession surge are being searched more is because landlords are making decisions now, considering:Section 21 is still available (for a limited time)Future eviction routes will take longerCourt involvement will increaseUncertainty around timelines is growingThe Bigger Concern: Control and TimeThe real issue for most landlords is not eviction itself. It’s a loss of control.Under the new system:You must prove legal groundsTenants can challenge an evictionCourt processes become essentialTimelines become less predictableThis shifts the process from a landlord-led decision to a court-led process, which brings attention to another concern. The Court System and DelaysOne of the biggest gaps in most discussions is the role of the courts. Even now, landlords experience delays when dealing with possession claims. With the renters’ rights bill fully implemented, experts expect:More contested casesLonger waiting timesIncreased pressure on courtsRecent data already shows that repossession timelines have increased, with cases taking weeks longer than before.For landlords, this means mistakes in tenant selection or management could take much longer to resolve.Should You Be Worried About the Repossession Surge?The answer depends on how your property is managed. The repossession surge is not just about risk; it’s also about awareness. Landlords can operate successfully if they:Choose the right tenantsKeep proper documentationStay compliantHowever, landlords who rely on informal processes or delayed action may find the new system much harder to manage.Cribs Estates Helps You Stay ProtectedUnder the new system shaped by the renters’ rights bill landlords repossession surge, the focus is no longer just on finding tenants; it’s about managing risk from the start.At Cribs Estates, we focus on what actually matters:Stronger tenant selectionWe carry out thorough referencing and affordability checks to reduce the risk of future arrears or disputes.Structured rent collectionConsistent rent collection systems reduce the chances of missed payments and create a clear financial record if issues arise.Compliance and documentationFrom tenancy agreements to safety requirements, everything is handled properly so landlords are protected if legal action is ever needed.Ongoing property managementWe manage communication, inspections, and maintenance, ensuring problems are identified early rather than becoming bigger issues later.Clear guidance on legal changesAs rules evolve, we help landlords understand what applies to them and what actions to take.Landlords who adapt early, put the right systems in place, and manage their properties professionally will continue to perform well.Stay ahead of these changes and keep your property running smoothly.

House Purchase Tax UK: What You’ll Actually Pay

Many buyers go in property purchase thinking they know what they have to pay, then are hit by a surprise house purchase tax UK cost. That’s because stamp duty (SDLT) isn’t as simple as it looks. It depends on your situation, not just the property price.Let’s break it down properly so you know exactly what to expect and where most people get it wrong.Where Buyers Get WrongThe most common mistake is thinking stamp duty is a flat percentage. It’s not.In the UK, house purchase tax (stamp duty) works on a tiered system. You pay different rates for different portions of the price. For example:If you buy a property for £295,000, you don’t pay 5% on the full amount.You pay:0% on the first £125,0002% on the next £125,0005% on the remaining amountThat’s how you end up with around £4,750, not £14,750.Current House Purchase Tax Rates in the UK (2026)As of 2026, the standard stamp duty rates are:0% on the first £125,0002% from £125,001 to £250,0005% from £250,001 to £925,00010% from £925,001 to £1.5 million12% above £1.5 millionThese thresholds changed after April 2025, which is why many buyers are still working with outdated figures.What You’ll Actually PayLet’s read some example scenarios to better understand the calculations: Example 1: Standard Buyer (£400,000)0% on £125,000 = £02% on £125,000 = £2,5005% on £150,000 = £7,500The total house purchase tax: £10,000Example 2: First-Time Buyer (£500,000)0% up to £300,0005% on the remaining £200,000The total house purchase tax: £10,000If this same buyer weren’t eligible for relief, they would pay more, which is why eligibility is required.Example 3: Buy-to-Let Property (£300,000)For landlords, an additional 5% surcharge applies.Standard tax: £5,000Surcharge: £15,000The total house purchase tax: £20,000You see, it’s the same property, but slight changes can give a completely different outcome.When You End Up Paying More Than ExpectedYou may pay a higher house purchase tax UK if:You already own another propertyYou haven’t sold your current home yetYou’re buying jointly with someone who owns propertyYou own even a small share in another propertyEven owning property abroad or inheriting a share can affect your stamp duty.This is why two buyers purchasing the same home can pay completely different tax amounts.First-Time Buyer Relief: Are You Eligible?First-time buyer relief can save you a big amount, but many people assume they qualify when they don’t. You get:0% on the first £300,000Reduced rates up to £500,000But only if:You have never owned property anywhere in the worldYou are buying as your main residenceIf you’ve inherited property, owned abroad, or are buying with someone who owns property, you may lose this relief. That’s where many buyers miscalculate their property tax in the UK.Additional Property Tax for LandlordsFor landlords, stamp duty on additional properties increases the cost. You are paying an extra 5% on top of standard rates, applied to the full purchase price.This is why buy-to-let investors often see tax bills of £15,000-£30,000+, depending on the property value.For example:A £400,000 investment property means the tax can exceed £30,000Latest Updates You Should Know (2025-2026)The house purchase tax UK system has become stricter in recent years. Planning is the key now, considering these updates:Stamp duty thresholds reset after April 2025Additional property surcharge remains at 5%Non-UK residents pay an extra 2% surchargeGreater scrutiny on ownership and eligibilityHidden Costs Buyers Often IgnoreStamp duty is just one part of the cost. Buyers also need to budget for:Solicitor feesSurvey costsMortgage arrangement feesMoving expensesMany buyers focus only on the property price and forget that the total purchase cost can be significantly higher.How to Reduce House Purchase Tax (Legally)There is no shortcut, but there are smart decisions and planning. You can reduce your house purchase tax UK by:Selling your current property before buying anotherChecking first-time buyer eligibility earlyStructuring ownership correctlyTiming your purchase carefullyHow Cribs Estates Helps You Buy SmarterWe don’t just help you find a property, we help you understand the full cost of buying it.We support buyers and investors with:Accurate pricing guidance based on local market dataClear breakdown of stamp duty and total purchase costsAdvice on rental yield and long-term performanceSupport through the buying process from start to completionPlanning to buy? Speak with our experts to get clarity on taxes first.

Property search

Residential Lettings

Residential Sales

HMO

Commercial Sales Commercial Lettings

Price

Min price

Max price

Number of Bedrooms

Min bedrooms

Max bedrooms

Find properties