Are you currently renting and wondering if it would be a good idea to buy your first home in East Renfrewshire? Then this is a must-read for you!
The UK property market has many particularities, one of them being people still very much prefer owning their homes. That contrasts with behaviour in other European countries were people view property ownership as less of a priority.
But latest figures show that in the UK the aspiration to home ownership is still strongly supported by hard numbers. A recent study by Halifax has shown that owning a house is cheaper than renting out, setting first time home buyers on average to be 27,000 better off than renters.
In Scotland, the research shows average monthly buying cost at an average of £503 while renting out has an average monthly cost of £606, making home buyers on average £1,200 better off annually.
Average figures in Scotland are much lower though than our East Renfrewshire average, where properties sell at an overall average price of £253,180 and are more expensive than nearby Glasgow (£151,780), according to Rightmove.
But even in the current context of growing prices, renting out is still more expensive in the long run. If you are thinking of buying your first home in East Renfrewshire, get in touch; the local market is very competitive for buyers and waiting patiently for homes to appear on property portals might prevent you from securing the right home.
So talk to us today and we will endeavour to get in touch as soon as something within your budget and specifications comes on the market.
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