England Real Estate - Just for Fun

[eloise_herisson]

Steve:

> Just for fun I searched a couple of website for UK real estate
> concentrating on Surrey, although I search a few other areas like
> Fullham that I was interested in.

We don't have real estate, we have property. ;-)

> 
> My search was for 3 to 4 bedroom detached houses between 100,000 and
> 1,000,000 Pounds, or about $160,000 to $1,600,000.
> 
> Some of them were unbelievable. What I would consider a tiny 
cottage,
> they considered a 500,000 BPound house.

You have to remember that land is at a much greater premium here in 
the UK. We are not, as you may have noticed, quite such a big country 
as the US. ;-)

You also have to remember that generally everything over here is more 
expensive in than in the US, not to mention the effect of exchange 
rates (which I think are in our favour at the present).

Also, you have been searching expensive areas of the country. Surrey 
is very affluent, within commuting distance of London and also home 
to one of the London airports (Gatwick) all of which bump up prices.

As for Fulham, a fashinable area of London....

The average price fro a property in the UK is now £151,467, 

( http://news.bbc.co.uk/2/hi/business/3592453.stm 

gives a good recent summary of the housing market here)

so not to find anything much for that price in Surrey is hardly 
surprising.

> 
> Interestingly, I did find one Middlesex home that considered a room
> 8ft by 6ft to be a bedroom. I think here in the USA, we call those
> closets.

As I say, space is often at a premium. 
Walk in closets are rare here.

> Although, I wouldn't have thought so, you can actually find some
> reasonably nice homes in Surrey for 150,000 to 300,000 BPounds 
(approx
>  $240,000 to $480,000). Note: exteriors can be deceiving. I saw 
houses
> that looked like nothing on the outside, that were very nice on the
> inside.


Locations can be very important. Even in Surrey. 
 
> Just for fun.

I know! ;-)

drpam asked about chains.

In England and Wales (not Scotland) a firm contract to buy/sell isn't 
made immediately. Sales are made 'subject to contract' and what often 
happens is that chains build up: I put in an offer to buy your house, 
but that depends on my ability to sell my house, which depends on my 
prospective buyer selling his house, etc.

Same the other way. I'm ready to move into the house you're selling 
me, having a buyer ready to move into my property, but the house 
*you* are wanting to buy isn't available as perhaps your vendor or 
someone further forward in the chain hasn't found a property to move 
into yet.

Clear? ;-)

Jolly good.

~Eloise