There are various reasons why people would want to buy a home, the most compelling would probably be the idea that the value of real property appreciates and owning one assures a return of investment for the future. But there are things one might consider before buying one, and one of that is location.
Sitting just at the border of London and Essex, Goodmayes, a district of Ilford is named one of the best locations to buy a home in 2020. It is forecasted as a bankable future investment because house prices in the area are expected to rise 40% in five years time.
Goodmayes will be on the Crossrail line and with plans for direct services to the West End and west London by 2021, making it more accessible to commuters wanting a quieter home outside, but not too far from London.
More reasons to buy in Goodmayes
Just twenty-three minutes from Liverpool Street by rail, Goodmayes is described as quiet and with a close-to-nature suburban and old worldly feel. Its park has a lake for quiet walks and a tennis and basketball court for the more athletic.
Average house prices for a four-bedroom terrace house would be around £650,000 to £800,000 and a three-bedroom Thirties semi would be priced about £400,000 to 450,000. Although there seems to be a limitation of offerings currently, Weston Homes have in its plans to build affordable 1,300 new homes in the community with first-time buyers in mind.
New primary schools will be added to the existing Goodmayes Primary School and Mayespark Primary School (both schools rated good by Ofsted). And the addition of new shops, new cafes and landscaped grounds.
With the proposed transport development and huge investments pouring into the district, investors might want to keep a close watch and jump into the opportunity.