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Your guide to buying a flat in Manchester

28th January 2022
 
Your guide to buying a flat in Manchester - Victoria Riverside
Your guide to buying a flat in Manchester - Victoria Riverside

As the 7th largest city in the UK, second to only London in terms of population, Manchester is becoming increasingly popular. Thanks to great job opportunities, affordable living costs and a vast array of properties on the market, it’s easy to see why so many are looking to buy in Manchester. So, whether you’re relocating or buying your first home in the city, we’re on hand with a guide to buying a flat in Manchester. 

 

Why you should consider buying a flat in Manchester 

Affordability 

 

Compared to many major European cities, the house prices in Manchester city centre are extremely reasonable. In fact, they are well below the national average in England and Wales. In addition to more affordable property prices, the cost of living in Manchester is also considerably lower than in many cities in the UK and beyond. According to Expatisian, the cost of living is 32% lower in Manchester than in London and more affordable than 52% of cities in Western Europe.  

 

Liveability 

 

In case you missed it, Manchester was voted the third best city globally by Timeout in 2021. In addition, based on education, healthcare, crime rates and social stability, the Economists ‘Global Liveability Index’ voted Manchester the UK’s most liveable city in 2018. 

 

Diversity 

 

With four universities, a thriving job market and plenty of attractions, Manchester is a culture and history-rich city that offers something for everyone. So, whether you’re considering Manchester for education, career prospects or a new way of life, the city is sure to deliver. 

 

Buying a flat in Manchester

When it comes to committing to buy, there’s a lot to think about. So, we’re going to break it down into simple steps so that you can be as prepared and informed as possible when it comes to buying a flat in Manchester. 

 

Confirm your budget

 

While it can be tempting to start looking at properties for sale right away, it’s essential to understand how much you have to spend.

If you’re borrowing the money, you’ll want to discuss your options with a mortgage advisor beforehand, so you have a good understanding of how much you’re able and willing to spend. 

Top tip: remember to take all costs into account, such as stamp duty, service charges (usually calculated by sq ft), solicitors fees, relocation and furnishing costs. 

 

Consider location

 

Like most large cities, Manchester city centre and Greater Manchester are split into several different areas. So, before starting your property search, it’s good to have an idea of the area you’d ideally like to live. 

When you’re considering the location of your Manchester flat, think about things such as the proximity to amenities, public transport, nearby schools and universities.

Popular city centre locations you may want to check out include Northern Quarter, Castlefield, Spinningfields, Green Quarter, Ancoats and exciting emerging neighbourhoods such as Red Bank and New Cross. 

 

Get clear on your requirements

 

Before you start searching for the ideal property, you need to have a good idea of what you’re looking for. To begin, decide on the size of the property you’re looking for, including the number of bedrooms and bathrooms. 

After, create a list of non-negotiable requirements followed by a wish list of things that would be nice to have but not essential. As you start viewing properties, you may find that you’re able to tweak your list and alter your requirements. 

Non-negotiable requirements may include things such as off-road parking and two bedrooms, whereas your wish list may include things like concierge service, gym and communal spaces. 

 

Start your search

 

Now that you have a good idea of what you’re looking for, now the real fun starts. With so many flats for sale in Manchester, it can be hard to narrow down your choices. Whether you choose to begin your search independently or with an estate agent, keep your options and go in with an open mind. 

 

Arrange some viewings

 

Once you’ve shortlisted some options, it’s time to start booking some viewings. If you find a property you like, try and book a viewing as early as possible to avoid disappointment – property is in high demand in Manchester. 

Once you start viewing flats, it can be easy to get carried away. Remember to refer back to your requirements and ask plenty of questions. 

Questions you may want to ask include:

  • Are you open to offers?
  • When can we move in?
  • How much does this property cost to run/upkeep? 
  • What’s included in the sale? 
  • How much interest has there been in this property and development? 

 

The legal stuff 

 

If you’ve found your dream flat in Manchester, it’s time to get ready to make an offer. By now, you should have a solicitor in place who will be running property checks and filling any legal paperwork for you. Once your offer is accepted, you can focus on shopping for your new home and getting to know your new area. 

 

Our top tips for buying a flat in Manchester

  • Keep quality at the forefront of your mind – while higher-quality properties may cost a little more to buy, they generally garner a better future resale price, or for investors, increased rental demand.
  • Check out any developments being planned in the immediate area. Some developments could affect the future value of your property, and you’ll want to know whether it’s likely to be negative or positive. 
  • If you’re buying to let, keep your ideal tenant in mind and think about what they’ll be looking for when you’re searching for the perfect property. 
  • Do your own research – while it’s convenient to use an estate agent, you shouldn’t let them influencer any significant decisions. Instead, take the time to do your research before committing to buy. 

 

Victoria Riverside 

Victoria Riverside is a landmark development of 634 luxury 1, 2 & 3 bedroom flats and townhouses in Manchester’s upcoming Red Bank neighbourhood. Set between the vibrant city centre and the greenery of City River Park, the development offers picture-perfect scenery along with a convenient location within the hustle and bustle of the city. 

Victoria Riverside encompasses a range of apartments and townhouses boasting spacious living areas, floor-to-ceiling windows and top of the range appliances. So, whether you’re in search of the perfect 1 bedroom flat in Manchester or a 3 bedroom townhouse for the family, Victoria Riverside could be the perfect place to call home. 

If you’re keen to find out more about  Victoria Riverside and all its amenities, get in touch with the friendly and knowledgeable team today, and we’ll take it from there. 

 
 
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