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Location Guides

Location, location, location. Where you want to buy a property can have an enormous impact on property prices. Read our expert guides to find out more about buying a home in desirable local cities, including Peterborough and Cambridge. We also look at important considerations when buying property, including the complications of purchasing in a conservation or flood-risk area.

Posted On: October 20, 2021
Updated On: October 29, 2021

Buying a Home in Cambridge Guide

If you’re in the market at buying a home in Cambridge, we have everything you need to help you plan for the journey ahead. Whether you’re moving to Cambridge for work, to be closer to family or ‘just because,’ it’s a beautiful city with plenty to offer.

Find a Local Mortgage Advisor

Why do you need to find a mortgage advisor so soon? Speaking to a local mortgage advisor will help you establish how much you could reasonably expect to afford in Cambridge. You can also get an agreement in principle, but this is by no means a guarantee that you will get the loan you’re after. But it does get the ball rolling and help you establish the type of mortgage that best suits your circumstances. Local mortgage brokers offer clarity and save you time and money in the long run.

Speak to Agentis today to arrange your free initial consultation with one of our mortgage brokers and get your Cambridge home purchase off to the best start. Based in Cambridgeshire, we know the local property market inside and out, and as ‘Whole of Market’ mortgage brokers we can find you the best mortgage rate to suit your circumstances.

Get Busy House Hunting

Now for the fun part – you get to start your search for the perfect house. No doubt you will have a criteria list a mile long, but it’s often best to have an open mind. Sometimes to get a property in your budget requires a little compromise – particularly in an upmarket city like Cambridge. It’s recommended that you have a viewing before putting in an offer as you can get a feel for whether the property is right for you.

What’s the housing market like in Cambridge?

As with most property purchases, you often want to know you’re getting good value for money, or at the very least that you’re likely to see an increase in the value of your property over the coming years. According to an article published in CambridgeshireLive, Girton, Grantchester and Arbury saw the biggest increases in property prices from 2019 – 2020, whereas the Fen Ditton area of Cambridge saw an average drop of 10%.

How much can you reasonably expect to get for your money?

Properties in Cambridge sold on average for over £500,000 between October 2020 and 2021, but this price can fluctuate depending on the type of property, the condition of the house and the location.

Which area is best for me?

Aside from personal preference, there are plenty of considerations. You may want to research the crime rate or access to local amenities and transport, for instance.

Popular and highly sought after areas of Cambridge to live include Chesterton, De Freville Avenue, Newnham, Grantchester and Mill Road. However, what’s popular and what’s right for you aren’t mutually exclusive. It’s best to explore the city for yourself and see what matches your criteria.

Make An Offer

Found a house you want to buy? It’s time to put in an offer – the sooner, the better. If there’s a lot of interest in a property, it’s not uncommon for a bidding war to start up. It’s best to stick to your budget, as you will only be leant a mortgage based on the actual value of the property. If you can afford to stretch an offer a little further, it’s your call.

If you’re selling at the same time as buying, it can help if you’ve already accepted an offer on your property and if the chain is a short one.

Instruct your conveyancer

It’s a good idea to instruct your conveyancer as soon as you get an offer accepted, as they can start the legal process of transferring property ownership. In England the sale is not legally binding until contracts have been signed and exchanged.

Find a mortgage

Now you should follow up on any mortgages agreed in principle or any other mortgage offers that would work for your property. A mortgage broker should be able to help with this, and can make sure your mortgage application has the best chance of being accepted.

Now that you know about buying a home in Cambridge, contact us today to speak to our team of experts.