Q. My grandmother has left me a large inheritance and I have decided to invest it in property. I want to buy somewhere close to work but I have only been in London for the past nine months and really don’t have any idea about where the best place would be to invest my cash. Obviously, I want to protect my investment and make a smart decision but I’m feeling a tad nervous given the bad reputation estate agents generally have. What can I do to ensure I buy something that I adore living in but will make my money work for me and be easy to sell in the future should the need arise?
A. Having a large sum of cash and feeling like you have absolutely no idea where to start can feel a little overwhelming. Worries about protecting your inheritance and finding the best way to make it work for you are valid, one wrong decision now could potentially result in a large loss later down the line if you don’t have guidance from someone that can be trusted. Given that you have little to no knowledge of the London market I would seriously consider hiring a ‘Property Finder’. These professionals work for you exclusively as you are the one paying their fee, whereas estate agents work for the sellers and although there are lots of good regulated agents out there that will offer good solid advice to their buyers too, bottom line is their number one priority is never the buyer, rather the seller their client, the fee payer. Property Finders will sit down with you and find out who you are, and get to the bottom of what you need and want from the property you are planning on investing in. They will help you to create a Wishlist that will cast some clarity on what type of property is a good fit for you personally. They will also discuss location heavily with you to ensure that you buy something that will be easy to sell when that day arises. Using a professional like this will ensure that you have someone with both the knowledge and the expertise of not only the type of property that you want to live in but also ensure that you buy in not just a good location but a great location. Once they have had their initial meet with you they will do the leg work, they will search out suitable properties on line first and go view them alone, this is to ensure they don’t waste any of your precious time showing you something that looked great on paper but is terrible in the flesh. They will usually source around eight potential properties to show you initially and if they are good its most likely that you will love something from the choice. Once you are ready to proceed they will be there to hold your hand from negotiating an offer to completion.