Moving to Marylebone

The top 4 home moving tips before you contact Marylebone estate agents

Introduction

Many Marylebone estate agents are experiencing the best property conditions for over a decade. As a result, there is renewed competition among home movers looking for property for sale in NW1, as well as to rent. Demand is strong among both tenants and buyers, with a large audience in the UK and from overseas. Many properties are being snapped up before a 'for sale' or 'to let' sign has even been erected, so home movers need to be in the strongest position possible before they even register with Marylebone estate agents. Here's some advice for anyone with NW1 in their home moving sights.

Identify your property budget

Property prices in Marylebone are on the increase so it is prudent to research how much different properties sell for, as this will help shape your budget and determine the type of accommodation you start viewing. According to property search portal Zoopla, prices in Marylebone have risen 32% in the last five years - despite the property market previously facing leaner times. Propped up by wealthy UK buyers and an influx of spend-happy international home movers, Marylebone house prices are still climbing - up 6.8% in the last year, with the average home adding almost 8,000 to its value in the last 12 weeks alone*. Zoopla also states that the average rent in Marylebone is just over 4,000 per calendar month but a quick search online reveals property to rent in Marylebone ranges from just over 3,000 per calendar month for a two-bedroom flat, soaring to 86,667 per month for a six-bedroom John Nash-designed terraced house.

*Data from Zoopla, 13th March 20144

Budget ahead for other home moving costs

When buying a property, a home mover needs to consider: Stamp duty Deposit Solicitor's fees Search fees Survey costs Mortgage arrangement fee When renting a property, a tenant needs to consider Tenancy administration costs Deposit (usually a percentage of the annual rent) All home movers should consider Changes to monthly payments - whether a mortgage repayment or monthly rent charge Any increase to any utility and council tax bills Any increase to home and contents insurances Removal/packing fees

Deciding to buy your first home; entering the rental market and even investing in property will all be heavily influenced by your overall budget. Both buying and renting carry financial obligations that need to be met, and an increase or decrease in outgoings can alter your course of action.

Be prepared with your paperwork

Tenants References from past landlords References from employers A guarantor, if needed Evidence of a deposit, in the form of a bank or savings account statement Buyers A mortgage offer in principle A guarantor, if needed Evidence of a deposit, in the form of a bank or savings account statement The instruction of a solicitor All home movers Photographic ID, such as a passport or a driving licence Proof of current address Wage slips for the last three to six months Utility bills from the last three months, pertaining to the address where the home mover presently lives

Before you register with Marylebone estate agents it's wise to have all your paperwork in place. Landlords and vendors will take organised movers more seriously than those who are not in a position to proceed quickly. Consideration needs to be given to the following:

Draw up a list of must have and would like features

Knowing the type of property for sale in Marylebone you would consider, or the ideal size flat to rent in NW1, helps narrow down the search and save a flurry of unsuitable properties being suggested. A 'must have' list can include things like number of bedrooms, proximity to a Tube station and parking arrangements. Features that are willing to be compromised should be added to a 'would quite like' list; these often include size of garden, architectural style and bonus rooms. Marylebone estate agents will try and tick as many boxes within a given budget, while suggesting alternatives using a little lateral thinking and the buyer's wish list.

Ready to move to Marylebone?

For more tips on buying or renting in Marylebone and finding a property to match your requirements, dont hesitate to contact or visit our Marylebone estate agents office.

Sandfords Marylebone 6 Paddington Street Marylebone, London W1U 5QG T +44 (0)20 7224 4994 mvsales@sandfords.com mvlettings@sandfords.com www.sandfords.com