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First Time Home Buyers Better Off Than Renters Posted: 21st February 2018

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.

Whatever your reason for moving; whether it's for extra space, to downsize or you may simply have found your dream home, Nicol can help. Our knowledge of the local property market helps us develop a marketing plan that's right for you and your property.
We want our clients to be delighted with the service we provide. Listening to your needs and understanding your requirements is our starting point. To find out more about our approach to selling homes, download our comprehensive Guide to Selling your Property here.
If you are planning on selling your home, contact Nicol Estate Agents today for an appraisal of your property. Our Managing Director Douglas Nicol and Sales Manager Daniel Cohen carry out hundreds of market appraisals every year, giving them an intimate and unparalleled knowledge of the property market in Glasgow, from city centre apartments to family homes and building plots. We will talk to you about the property market in your area, compare sales evidence, local demand for similar properties, outline our tailored marketing plan and provide details of our sales support strategy right through to completion.