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You are here: Home Housing Buying Editor's Guide: Buying a house in the UK

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08/02/2011Editor's Guide: Buying a house in the UK

Editor's Guide: Buying a house in the UK Here's a short introduction to our section on buying property in the UK.

'Should I rent or buy a home? ' is one of the most common questions expats ask upon arriving in their new home. The answer depends on several factors, including how long you plan to stay in your new country of residence, the current property market and the cost of an expat mortgage; articles like ‘Buying a home in the UK’ can help you make an informed decision.

Once you have made your decision, you will need to find a suitable expat home or apartment. Identifying a trustworthy and experienced local estate agent early in the process is advisable.


International mortgages
In one Expatica article, an expert in international mortgages states that one of the major effects of the credit crunch in Europe has been the willingness of banks to lend affordable mortgages. But property, like other assets, is subject to cycles of growth and decline.

So be sure to research the property market and local interest rates for international mortgages in your adopted country. Requirements for international mortgages vary from country to country and articles like Expatica’s 'A to Z of expatriate mortgages' offer clear and helpful advice.

Especially if you don’t speak the local language, it is worth seeking professional advice on your expat mortgage details and building permits. You can search for English-speaking mortgage advisors and estate agents in Expatica’s A-Z listings under the Financial & Banking and Housing categories.

Advantages and disadvantages of buying a home
An Expatica housing survey shows that expats across Europe believe the advantages of home ownership include long-term investment, building up capital and the freedom to renovate one's home.

The survey also showed that expats, when taking out mortgages and buying homes, experienced problems such as complicated administrative procedures, high taxes and legal fees, incompetent real estate agents, high prices and a lack of public records for house-price comparison.

New to buying real estate? Learn the top mistakes made by real estate investors to avoid classic or amateur slip ups and 'The British notary: Much pomp and circumstance' so you won't be caught by surprise.

Utilities
Setting up your house also means wrapping your head around electricity and utility set ups. Fellow expats share their bafflement in 'DIY'ers will be puzzled by British electrical standards' and 'A licence to watch TV?! *gasp*'.

Selling your house
Last, if you are selling and moving on, articles such as ‘How to prepare your house for sale’ can prove invaluable.

Expatica 2011


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