Real Estate in Margate, England
Last updated on Jul 15, 2024
Summary: Expats and retirees talk about real estate in Margate, UK? How do you find a home in Margate? Should you buy or rent? What is the cost of housing?
How do I find a place to live in Margate?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Finding a place to live in Margate, involves several steps. First, you need to determine your budget and what type of accommodation you're looking for. This could be a flat, a house, or a room in a shared house. Next, you should start your search online. Websites like Rightmove, Zoopla, and OnTheMarket are popular property search sites in the UK. You can filter your search based on location, property type, number of bedrooms, and price range. You can also use local estate agents in Margate. They can provide you with a list of available properties that match your criteria. Some well-known estate agents in Margate include Cooke & Co, Oakwood Homes, and Miles & Barr. Once you've found some potential properties, arrange viewings with the estate agent or landlord. This will give you a chance to see the property in person, ask questions, and get a feel for the area. If you're moving to Margate from another country, you might want to consider short-term accommodation first. This could be a hotel or a serviced apartment. This will give you some time to find a permanent place to live once you're in the UK. Finally, once you've found a place you like, you'll need to go through the application process. This usually involves providing references, proof of income, and possibly a credit check. Once your application is approved, you'll sign a lease agreement and pay a deposit and the first month's rent. Remember, finding a place to live can take some time, so it's best to start your search well in advance of your move date," said one expat in Margate.
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What is a typical expat home or apartment like in Margate?
"A typical expat home or apartment in Margate, is often a charming blend of modern and traditional British architecture. These homes are usually spacious, with multiple bedrooms, a living room, a fully equipped kitchen, and one or more bathrooms. Many apartments offer stunning views of the sea, as Margate is a coastal town. The interiors are often tastefully decorated, reflecting the quintessential British style with a touch of modernity. Some homes may also feature a small garden or patio, providing a private outdoor space. The homes are usually located in safe, friendly neighborhoods, close to local amenities such as shops, restaurants, and public transportation. Many expats choose to live in apartments or houses that are within walking distance to the beach, adding to the appeal of living in this seaside town. Despite being a popular tourist destination, residential areas in Margate maintain a peaceful and quiet atmosphere, making it an ideal place for expats to settle down," said one person in Margate.
What is the average cost of housing in Margate?
If you are thinking about moving to Margate, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Margate, can vary greatly depending on the type and size of the property. As of recent data, the average price for a property in Margate is approximately in the mid to high hundred-thousand-pound range. For a flat, the average price is slightly lower, while for a detached house, the price can be significantly higher. It's important to note that these are average prices and actual costs can vary based on factors such as location, condition of the property, and market trends," said one person in Margate.
Should I buy or rent a home in Margate?
If you have not spent a lot of time in Margate, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"The decision to buy or rent a home in Margate, largely depends on your personal circumstances, financial situation, and long-term plans. If you're planning to stay in Margate for a long time, buying a home could be a good investment. Owning a property allows you to build equity over time and could potentially provide a return on investment if property values increase. On the other hand, renting might be a better option if you're not planning to stay in Margate for a long period or if you prefer flexibility. Renting doesn't require a large upfront cost like a down payment, and it also frees you from responsibilities like maintenance and repairs, which are typically handled by the landlord. Financially, you'll need to consider whether you can afford the ongoing costs associated with owning a home, such as mortgage payments, property taxes, insurance, and maintenance costs. Renting can sometimes be more affordable in the short term, but you won't build equity as you would with a home purchase. It's also worth considering the current state of the housing market in Margate. If property prices are high or rising, it might be more cost-effective to rent until prices stabilize or drop. Conversely, if property prices are low or falling, it could be a good time to buy. In conclusion, the decision to buy or rent a home in Margate should be based on your personal and financial circumstances, as well as the current state of the housing market. It's always a good idea to seek advice from a financial advisor or real estate professional before making such a significant decision," explained one person living in Margate, England.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
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