Karen Turner, Property Sales Director, Pagan Osborne
Recent research suggesting renting is the “new normal” for under-35s doesn’t necessarily mean the younger generation of househunters needs to curb its aspirations. In fact, with recent statistics from Zoopla suggesting that property purchasers are better off at the end of the month versus their renting counterparts, buying your first property may not be as difficult as it seems.
With shrewd decision making, homeownership is still an achievable option for many young people – if they are discerning. And with research suggesting that Scottish home owners – particularly those in university cities such as Edinburgh or St Andrews – have lower mortgage payments compared to rental bills each month, it makes financial sense to get on the market sooner rather than later.
By keeping below the £145,000 price threshold under which no Land and Buildings Transaction Tax is payable, and with a 5% deposit, a range of properties could be well within reach.
Properties available through Pagan Osborne include one-bedroom city flat in Edinburgh at a fixed price of £130,000 and a two-bedroom terraced villa in Port Seton at offer over £120,000. For example:
Fixed price £130,000
Offers Over £ 139,000
Offers Over £120,000
For more information on getting on the housing market, get in touch with Karen on 0131 539 3333 or email email@example.com