Business

Home owner in #London

With a bit of luck, you have a good job. What is a good job? For some it is about job satisfaction. For others, it is just the high income (without the daily happiness).

When living in London, there are a lot of vacancies in different industries! It all depends whether you are fussy or if you are desperate to get some cash.

London is the Capital of England and like other big cities around the world, life can be expensive. We are not talking about food or transport but, paying the monthly rent or, if your income is high enough investing in a property and repaying the mortgage.

London house and flat

London house and flat

 

Rents are high and getting higher. A mortgage could be in fact cheaper than the rent but, the initial deposit is what brings a real stop to most first-time buyers!

Some long time London citizens are even moving away from the busy streets and changing their lifestyle for something quieter but mainly cheaper.

They are keeping their jobs but may decide to move to the suburbs or even commute daily for two hours by train – which would take less time to reach the destination than jumping on the crowded London Underground. On a train a seat is reserved as on the Tube, people have to stand for hours due to the fact that so many commuters are going/leaving central London at the same time.

London crowded Tube

London crowded Tube

 

Now, the Guardian has revealed the following:

…first-time buyers need to earn £77,000 a year to live in London…

Even the so called “affordable housing” – across the UK is a real issue as for that particular case, a minimum income of £41,000 is expected, in order to get through all hurdles.

Average house price per region UK

Average house price per region UK

 

What is preferable: rent a property but keep a certain quality of life or get on the property ladder and check each penny spent on a daily basis to make sure that the bank won’t call for a lack of money on the savings account?!

Families and businesses seems to struggle despite the quietness of the recession. Mind you, the news have been busy recently with everything concerning the Royal Baby & the UK elections to name just a few.

Looking at a few unexpected changes from the past years; The MetOffice relocated to the Southwest of England and just a few years back BlurGroup also decided to install its offices at the newly implemented Exeter Science Park (see article HERE). It seems that commercial investment in the Southwest is changing in a good way.

Devon was seen until the late 90s as the countryside of England with nothing actually happening. However, entrepreneurs are observing what is going on and expenses can make such a difference when choosing the right location. It doesn’t actually matter anymore where you are and this is applicable for a firm or for your own property too.

Everyone can be online. Some employees and employers as well, work from home. It is all about increasing your savings and getting a good balance between life & work.

This can explain why families are relocating from London to Devon such as Bikelands in Exmouth.

When it comes to put a roof over your head, owning a property is the dream of must of us as long as it doesn’t trigger anxiety, stress and despair when finances aren’t following as planned. Yes… buying a house (whatever the size) is a commitment where everything needs to be scheduled carefully!

Read full article from The Guardian Business section HERE.

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