For many people working in the nation’s capital London their salary dictates where they can live. Weighing up the choice of living out of London and spending on commuting or living in London can often be a difficult decision.
In deciding on location you need to balance the cost of central London property versus transport costs and the time that will be spent making those daily journeys. What else might be considered?
The City of London skyline as viewed toward the north-west from the top floor viewing platform of London City Hall on the southern side of the Thames. In the foreground: Dixie Queen and Millennium Time at Tower Millennium Pier. (Photo credit: Wikipedia)
City dwelling or Rural Living?
For some who aren’t sure about living in a city like London long term, it is worth noting that so much of the development and growth in recent years has been in housing developments designed to improve the quality of city life. Many of these developments are helping to create stronger, localised communities in increasingly popular urban villages such as Marylebone and Connaught Village.
Get in touch with an experienced property consultant like Kay & Co to find out more, as they specialise in properties from a range of these areas. Designed so that you can reach every service, shop, or whatever else you require within a small area, often with low traffic density, they are becoming increasingly popular and viable as places to live.
Council Tax and Rent/Mortgage Costs
Unless money isn’t an issue for you then obviously this could be the big one. Rental prices are high in Central London, and if you aren’t on a City Banker’s wage you may not want to stump up the high costs. Plus if you are hoping to save up for a mortgage one day then you may find it more difficult to save in the long run.
That being said if you want to buy then once you get passed the £300,000 mark (which is most, if not all of Central London) then council tax won’t be any higher, so that’s something.
Sometimes the costs of your commute will be high enough to outweigh the savings made from living further out from the centre. You will have to do your research and base your decision on your own personal factors. Remember in London, everything can vary from street to street, so get researching and make a decision that’s right for you.
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