Many move to the Bedford area to take advantage of the region’s fast links to London, under an hour by train or Luton just 15 minutes.
Do you plan to move to Bedford but are not entirely sure of house prices in Bedford?
If you are planning a move, it makes sense to investigate what the local property market is doing with regard to price.
When you are thinking of moving home the age-old issue of affordability always comes into question.
The costs associated with moving are not insignificant. However, thousands of people do it in the UK every day.
For most, the driver is a move up the property ladder to a larger home. Some moves are motivated by career changes, others by personal relationships and changes to the family unit.
Regardless of your actual reasons, one thing is definite, you need to be aware of property values before you take the final step and move to Bedford.
Before you search for a home in Bedford, several factors will need to be addressed.
Buying a home is one of the single most expensive purchases you are ever going to make. You need to ensure that you thoroughly prepare yourself before you commit.
Making sure you don’t overstretch yourself financially is vital.
This is particularly good advice today. The economic situation we are currently having to traverse means you never know what the markets are going to do next.
Taking out a large mortgage and leaving yourself no financial wriggle room means you could find yourself in a negative equity situation. Or worse, your home could be repossessed.
What you can buy and what you can afford are two different things entirely.
Setting your budget can make or break a house move.
Buying a house and then moving in costs more than most people think.
Not only is property at its most expensive right now but, moving home comes with all kinds of other financial burdens such as:
Aside from the actual cost of moving home, most of us need to take out a mortgage.
Mortgage lenders base their decisions on what’s known as the loan-to-income ratio – the amount you want to borrow divided by how much you earn.
Currently, the most you can borrow is usually capped at four-and-a-half times your annual income.
So that you are totally aware of what your mortgage cost is going to be, use an online mortgage affordability calculator.
Money Helper has a useful calculator which is really easy to use.
Once you have calculated all the expenditures and are sure you can afford them, your search for a home in Bedford can begin.
Like most areas in Britain, house prices in Bedford reached a peak in 2022. Buyers were having multiple offers made on their homes.
Since the start of 2023, the housing market has been slowing. Property prices are falling from their peak levels, with more significant drops expected this year.
We are now seeing mortgage rates beginning to fall again and an increase in mortgage products coming back onto the market. This is all good news for buyers in Bedford.
According to Rightmove, the average cost to buy a home in Bedford now is £328,302.
Don’t be tempted to push yourself to the limit and buy a home that is outside of your set budget.
Once you have worked out to the penny what you can afford, stick to your guns!
Bedford is no different to any other town. There are neighbourhoods where homes are historically cheaper and others that have more expensive properties.
Knowing exactly what you have to spend will mean you won’t be sidetracked into buying a more expensive home than you can afford.
Here are some areas in and around Bedford where you can potentially bag a bargain:
Based on the 478 homes for sale in Bedford (March 2023), the lowest-priced homes are in the little village of Biddenham.
Around 2 miles west of central Bedford, you can buy a three-bed semi in Biddenham for just £142,500.
If you are not afraid of taking on a renovation project, you will certainly get more for your money and see a good return for your efforts.
There is a fantastic do upper which sits close to Bedford Hospital, a mile from central Bedford. It is conveniently, within an easy stroll to Bedford’s main railway station. On sale at £200,000.
For mid-priced homes head to Kempston. Northeast of Bedford, three-bed properties dominate this area and prices start at £220,000.
Some of the town’s most expensive properties are situated in the highly desirable cosmopolitan Castle Quarter of Bedford.
You will find a selection of large, stunning Victorian-period semi-detached villas selling just under the £ 1 million mark.
Putnoe Lane is Bedford’s Beverley Hills area.
In this location, homes tend to be more modern, it has more than its fair share of high-value homes priced between £500,000 and over the £1m mark.
You will also find some very desirable properties in the small villages that surround Bedford.
Generally, they are more costly.
If you have plenty of cash to splash but need to be within an easy drive to Bedford, check out Studham.
Sitting in an Area of Outstanding Beauty on the edge of the Chiltern Hills. The lowest price for a home in Studham is £700,000.
Bedford is rapidly expanding and newbuild sites are popping up all over the town.
The additional bonus with new builds these days is that they very often come with discounts and other incentives to encourage buyers.
If you are on the hunt for a property you can just move into without having to do a thing, you are in luck.
There are 12 developments spread across Bedford. Click here to find out more.
You may find a great bargain you just can’t resist.
Now that you have a better understanding of what house prices in Bedford are, you are ready to take the plunge into the property market.
As you have already done your homework and thoroughly explored your finances, you should have a good grasp of what you want to pay for a home.
Despite what your budget may be, the type of home you want, your chosen search area or where you are on the property ladder, Bedford provides something for everyone.
For those who are planning a whole house move, the best and least stressful way to relocate is to hire a local, reliable and experienced removal company. They can do all the hard work for you.
Give us a call today, and book a home survey either in person or via our extra convenient virtual platform.
We will be happy to quote you for your move.