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Houses in Mayfair and the area in general has a handsome architectural and historic design with garden squares that make the area a peaceful haven in a prime London location. It has a luxury V.I.P status as one of Europe’s if not the worlds finest and most exclusive residential property addresses.

Once a simple stretch of fields outside the main part of the city, but has become the most exclusive sections of London, filled with luxury hotels, Georgian town-houses, and swanky shops. Positioned between Regent Street and Hyde Park, it’s convenient for London’s best shopping and reasonably close to the West End theaters, yet away from the hustle and bustle of Covent Garden and Soho.

At its center is an area called Grosvenor Square where a statue of Franklin D. Roosevelt stands. One of the curiosities of Mayfair is Shepherd Market, a micro-village of pubs, two-story inns, restaurants, and book and food stalls, nestled within Mayfair’s grandness. This is the place if you’re seeking sophisticated, albeit expensive, accommodations close to the high fashion shops of Bond Street, the art galleries of Cork Street and the bespoke tailors of the famous street Savile Row.

Mayfair Houses Statistics

Main Areas in and around Mayfair

  • Mayfair
  • St. James’s
  • Soho
  • Covent Garden

Percentage of Houses/Property types in Mayfair

  • Flats/Apartments in Mayfair make around 97% of the Mayfair residential property market.
  • Houses in Mayfair make the rest at 3% of the Mayfair residential property market.

Percentage of Bedrooms in Residential Properties

  • 39% 2 Bed Properties
  • 31% 1 Bed Properties
  • 22% 3 Bed Properties
  • 6% Studios
  • 3% 4 Bed Properties

Average Rental Price in Mayfair

  • Studio: £1,557
  • 1 Bedroom Flat: £2,117
  • 2 Bedroom Flat: £3,276
  • 3 Bedroom Flat: £5,705
  • 2 Bedroom House: £3,529
  • 3 Bedroom House: £6,164
  • 4 Bedroom House: £7,653
The above data was accurate as of last month

Property Price Range for Houses in Mayfair

  • £499,995 – £17,500,000

Average Selling Price in Mayfair

  • Studio: £584,672
  • 1 Bedroom Flat: £584,672
  • 2 Bedroom Flat: £1,227,021
  • 3 Bedroom Flat: £2,474,813
  • 3 Bedroom House: £1,439,272
  • 3 Bedroom House: £2,686,888
  • 4 Bedroom House: £3,362,979
The above data was accurate as of last month

Population demographics in Mayfair – London

  • Population: 24,639
  • Average age: 33
  • Retired: 16.62%
  • Unemployed 3.8%
  • Educated to degree level: 52.81%
  • Student: 11.25%
  • Total migrants: 29.59%
The data above has been obtained from the 2001 census

What you need to know about London Property Refurbishment…

A London Property Refurbishment Company can provide you with a professional and cost efficient way to carry out your London property refurbishment, whether it is a flat, house, apartment or building from start to finish. Taking the pressure of you as experienced specialists deal with this stressful process.

The London property refurbishment company that you are about to hire or thinking of hiring needs to be an established one and has a god track record. It is always recommended to deal with a company rather than an individual who has his van and gang-band with him. A refurbishment company has a lot more to lose than a cowboy builder.

A London property refurbishment company help by; viewing your property that needs refurbishment and discuss your plans, ideas and goals. Offer you advice about how you can best achieve what you want and help you develop your design and provide you with a free estimate of the refurbishment project cost.

They can also suggest ways that will help you achieve what you want for the budget that you have, plus have access and know architects, building engineers, building regulation specialists and party wall legislation specialists. Some are able to offer the security of a fixed price project under a contract or JCT agreement.

The best aspect of a property refurbishment company is that they can project manage all aspects of your property refurbishment project from start to finish.

London Refurbishment Costs

Depend on several factors including the size and condition of your property, and if the refurbishment project requires any structural work or safety, sound features need to be added to comply with building regulations or any other miscellaneous matters that need to be considered and addressed.

Average Property Refurbishment Cost

An average refurbishment cost can start from around as little as £10k – £20k, and is more likely to include; fitting a new kitchen, painting/decorating the property, installing new lighting, flooring, shelving or cupboards and modifying an existing bathroom.

The refurbishment project can touch and jump over the £30k+ mark, once you start playing around with layout of the property, making it into a more comfortable and modern living space. It can also include fitting a new kitchen and bathroom, replacing flooring, installing a new boiler and radiators, re-plastering walls, minor structural work such as removing a wall between a kitchen and living area or changing the size of a bedroom or bathroom, replacing ceilings and installing new electrics. Expensive fixtures and fitting of-course play a part in the refurbishment price cost depending on their quality and brand.

Additional work such as major structural alterations, scaffolding, sound proofing, fireproof internal walls, mist fire prevention systems or glass walled entrance areas, can greatly vary the price of the refurbishment and will add considerably to the overall cost of the refurbishment depending on what you are after. This is likely to cost over £35k mark.

London Refurbishment Contractors

Refurbishment contractors can be builders, plumbers, tilers, electricians, surveyors or property consultants and even project managers. They subcontract the traders they need for the refurbishment project, manage them and do what their part of the project that is required by them if any.

Contractors are a great asset if you don’t mind paying the extra percentage for their management, as they will over look the project from start to finish and make sure its sticks to budget and the time scale agreed on.

House Refurbishment London

The house-flat trend has been going on for decades now in London as there is less and less space in London. Houses are being turned in flats left, right and center. This is a great opportunity if you are able and have the financial capability to acquire a house, gain planning and turn it into flats. whether to sell or live off the rent and build your property empire.

House Builders London

We are seeing more of this nowadays, as building companies are acquiring unused land, ex-council building and other options to build new build properties and living spaces. Old rundown London is turning into new up and coming areas. Keep an eye out for areas that councils are acknowledging this growth.

If you are going to take away something from this general article, take away the 5 tips for a London property refurbishment project stated below;

5 Tips for a London Property Refurbishment

Tip #1 Add Extra Space

Space in London is very valuable, so adding more during the refurbishment will almost always make your property a a better place to live and of-course increase its value. Some ways to increase space is to build a side extension, convert the loft area in your house or to enlarge or use existing space in the basement. Find an unused or dead space in the property and turn it around if none of the above options are achievable. For example it is possible to create an extra room by moving the kitchen into an open plan living area.

Tip #2 Plan

Plan everything very carefully from start to finish and make sure that you are happy with your plans for each part of your refurbishment before you start work on it.

Tip #3 Kitchens and Bathrooms

Kitchen’s are one of the most important features of a property especially if they are in an open plan living area, so they need to look good. Items such as the taps, flooring, back-splash and lighting give you the opportunity to make your kitchen look more expensive than is should and exactly how you want it.

Use bathroom accessories to play around with the feel and image of your bathroom rather than sticking to a color or style that will lose its trend next season.

Tip # 4 Features

Many London period properties have stunning features, highlight them for your advantage, such as fireplaces, wooden floors. Adding new features can be done by exposing original brickwork, or adding glass walls, new windows or doors and balconies.

Tip #5 Consider

Rather than looking at the property as a series of separate rooms, consider using the same flooring through several of your rooms, this creates a sense of continuity throughout the property and makes it feel larger. Similarly with wall and wood, joinery paints, other features can be used to help maintain this feeling of continuity can be fireplaces, cornicing, stairs, bookshelves or cupboards and can also include installing new features such as glass walls, exposed brick work, windows or other modern features.

If you are considering a flat refurbishment you can contact Mayfair Property Services by Clicking Here… 

How to Buy Your First Property

Buying your first property is one of the biggest decisions that you will ever make in life, as it is important to take this decision seriously and know that it is the right choice at the time. You must also know that you have to prepare yourself in every aspect in order to make your first home a blessing and not a negative experience.
Here are the basic steps that you should know when buying a new home (property).
1) First thing you should do when buying your first property by determining if you are ready to buy a home or not, as home ownership is a lot more expensive than renting as you are responsible for paying for all the repairs, utility costs, insurance, council tax and property maintenance.
These costs add up quickly and if you are not financially prepared, you may end up in a very negative position.
If your in debt, get out of debt (such as credit card debt) and save up an emergency fund before you purchase your first home, not forgetting the down payment!2) Begin to shop for a home loan by talking to a mortgage advisor, they’ll be able to indicate how much you can borrow based on your earnings, your current financial commitments and any savings you may have. This will help you to look within your property price range.
You should contact at least three mortgage advisors before you decide which loan to take.
A mortgage broker will look at several different home loan companies to find you the best rates, However your small local bank or your credit union may have options that will save you money as well. Once you find a loan with the correct terms you can begin your hunt for a property.3) When it comes to your mortgage you may be surprised at the different loan types, deals and payment options. Usually a fixed rate mortgage loan for fifteen or twenty years is the best option, which can help you lock in a low rate for a good amount of time. You may be considering creative financing to cover the down payment but you should be careful when you make these choices as you want to build wealth with your home purchase and a wrong choice might you end up hurting you financially.
Always find out roughly how much you can afford in monthly repayments by compare your incoming salary with your outgoing expenses. The figure you get when you subtract all of your expenses from your income is your disposable income, you should ensure that this surplus income is sufficient to meet all your requirements.

4) A good rule is to keep your mortgage along with your taxes and insurance between twenty five and thirty percent of your income. Other experts advise that your home cost be limited to two and half times your annual salary.
It is important to realize that you need to include the cost of taxes and home-owner’s insurance into your monthly housing cost.
With the insurance and taxes your monthly housing costs should not be more than thirty percent of your monthly salary.

5) Solicitors are one of the main professionals needed in the home buying process, you will also need a valuation report and / or a surveyor’s report.
Get a home inspection, this will bring up hidden problems within the home ( property ) which you can learn about any issues that may prevent you from buying the home. This may include mold problems, termites, foundation problems and or a bad roof.
The inspection can save you thousands of pounds in repairs and additionally you may be able to negotiate a lower price for your property.

6) Once the offer as been accepted buy the home sellers or property auctioneers your solicitor will do the rest. Remember a solicitor is there to make sure that all documents, money and other necessary information is together before you sign and to protect the buyer, the seller and the lender.

7) Once you have closed on your home, it is time to move in and do what ever you want in it under council rules and regulations but you can paint, unpack and enjoy your new home. Be sure that you change your utilities and cancel your old ones as well, this will save you time and money because you will avoid late fees.

Good Luck, Happy home hunting and congratulation on your new home.

 

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