The United Kingdom recently made a landmark move towards independence from the European Union after voting to leave in the highly controversial Brexit vote. While the ins and outs of the deal might not be everyday news in the USA, there is one aspect that should make Americans pay attention. The value of the pound has been steadily falling, which means that house prices are very competitive for overseas investors. If you’re thinking about expanding your property portfolio, the UK could present an interesting prospect for overseas investors.

 

Although house prices in busy cities such as Manchester and London are booming, if you look outside of these key areas you will find many other opportunities to buy unique investment property. Whether you’re looking for a family-friendly vacation home or an investment property to diversify your retirement income, now could be a great time to snap up property in the UK. Here are three things to consider before buying a property in post-Brexit Britain:

Follow the infrastructure projects:

Some projects may come and go, but large infrastructure projects are likely to go ahead regardless of Brexit changes. Projects like HS2 are still in the works, but anything located near this line is likely to increase in value in the future. Other infrastructure projects include CrossRail and the Euston Express line.

Choose your area wisely:

It can be difficult to get a feel for an area if you haven’t spent much time there. Always plan a research trip where you will have the chance to view properties and get a feel for the local area. This can be combined with a family holiday, especially if you are looking for a vacation property.

Find a proactive estate agent:

A good estate agent will be able to find a property that suits your needs, perhaps before it even reaches the market. In tough economic times, only the best real estate agents will survive because it takes a proactive approach to be able to match people to property. They will also be able to lend their expertise to helping you find a great area.

 

One final word of warning, in the UK, the process of selling or buying a home is quite different and you will need to instruct a specialist conveyancing solicitor to complete the sale. In the USA, this task is often completed by the real estate agent. In the UK, you don’t have to choose the conveyancing solicitor that your real estate agent suggests and you can shop around for the best deal for you.