Glasgow is the most populous city in Scotland and the third most populous in the United Kingdom. It is also growing at a fast pace in good harmony with development. However, it is still an affordable place, which makes this place a great spot to live. Every year many people plan to buy a home here.
Like any other place, home buying in Glasgow demands attention towards specific tips to facilitate better decisions on property. From the house price to the latest scenario of the real estate market, everything needs to come under consideration.
Look for the most affordable locations
It is majorly for first-time buyers. They are usually concerned about their financial limits. By finding an accessible place, they may bring a big difference in the total cost of a home. If you too want to buy your first house in Glasgow, this tip will help. Lower the price, lower will be the amount of mortgage.
|Name of the area||Deposit required||House price (average)|
|Springburn, Balornock, Barmulloch, Cowlairs, Royston||£11,400||£81,300|
|Mosspark , Cardonald, Penilee, Hillington,||£12,000||£90,084|
|Calton, Bridgeton, Dalmarnock||£13,000||£100,000|
You can keep exploring more options to find more lucrative deals. The local agents can make you familiar with the latest trends and prices.
Do not forget the recent decision of a 5% increase in council tax
Scotland is busy in the latest talk of the town that says the council tax in Glasgow and Edinburgh are about to increase. This rise will be 5% and is destined to be applicable from 1st April. Before you purchase the property, confirm the council tax that you will need to pay after buying the property. Also, know the tax band.
Do not forget the difference between the amount of council tax if the property you buy is your second home. Also, in the case of empty properties, the due changes should remain in your knowledge. Another difference, the treatment of leasehold or freehold property affects the final decision. Every small factor is sure to leave an effect on the tax when you get on the property ladder. More details on the 5% increase and its impact can be obtained here https://www.bbc.com/news/uk-scotland-51566055
Find a solicitor once you finalise the house
After all the mind-boggling hard work on the house search, you finally reach a decision. Now is the time to arrange legal assistance because decisions on property buying are complicated. They should be dealt with proper attention on the legitimate grounds to avoid any fraud.
Hire a solicitor to tackle all the necessary paperwork and legalities of home buying. Remember, do not get just anyone but the one that is a specialist in handling the property purchase cases. Confirm about the fee and the time he takes in understanding the procedures done. Some of the solicitors have excellent connections, and they can get your work done faster. The role he plays is essential due to the following reasons.
A solicitor –
- Ensures that there is no legal constraint or reason that may stop the seller from selling the property.
- Goes to the local authorities to make sure that there are not planning issues in the area.
- Scrutinizes all the fundamental causes that may affect the value of the property in the future. It includes the study of both negative and positive factors. An airport project planned near the location may increase the prices. On the other hand, if there are any Government’s plans or the local authority to adopt the land in the nearby area for industrial use. That can cause a degrade in value.
Geographical conditions are of extreme importance
The geographical surroundings of your new home are unavoidable. Make sure that there is no issue in the proximity. Following aspects should come into notice –
- History of flooding
- Mining process
- Landslide threat
- Wildlife interference etc.
The concerns on the geographical conditions become more critical when you buy a home in summers. At this time, the weather is usually pleasant, and the property looks bright and beautiful. But do not forget that you have to spend all the seasons there. Summer, autumn, snow-capped winters, rainy season that brings the danger of storm also.
Now it is time to look for a good mortgage deal
No property purchase is complete without a mortgage (until you are not very rich). After crossing all the necessary stages, you need to start looking for a good mortgage deal. They are in plenty in the market of the UK. However, finding the right type of the lender and deal with demands skills. It may not be possible for you, fine, not an issue.
Leave the work on brokers. It is not difficult to find an online mortgage broker in Glasgow such as Shinemortgages.co.uk. They know the mortgage industry in totality and can bring the options of the most lucrative deals that suit you well. Find a broker that takes no brokerage. The companies that make their share from the lenders are considered as more genuine.
Work on your personal finances –
Keep your finances organised to get easy approval. Stay strong in your financial capacity.
- Repayment strength is the vital factor.
- Keep the income-outgoing ratio in control.
- Do not take any new loan.
- Do not make minimum payments of credit card, and it may degrade your credit rating
- Pay the bills on time
- If you have many obligations, go for debt-consolidation to shrink the size of your obligation
In short, you need to work on all the fronts. Home buying is not a small decision, and something that is not small cannot bear compromises.
All the above tips can certainly help you find the best home for yourself and your family in Glasgow. The only need is to pay heed to all the essential factors. Whether it is the area of the property or the tax system, you cannot avoid any single aspect.
More you invest in your efforts before purchasing the property, more fruitful is the outcome. It can be very frustrating to detect a big issue after the purchase, as you are stuck at that time with no help available.