Timeline for Buy 1 bed flat via private sell (Edinburgh, UK) - opportunity?
Current License: CC BY-SA 4.0
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| Jul 14, 2019 at 13:13 | comment | added | Owain | An Edinburgh tenement flat may have higher maintenance costs, especially if it's listed, conservation or World Heritage area status, which can hugely inflate the cost of works. Single-family houses don't have to pay factor's fees either and don't have the problem of joint owners who don't pay their share. For letting the property in the future, Capital Gains Tax on any increase in value has to be considered, as well as income tax on the rental income less allowable expenses. | |
| Jul 13, 2019 at 21:49 | history | edited | user3757614 | CC BY-SA 4.0 |
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| Jul 13, 2019 at 19:08 | comment | added | Antonio Andrés | Many thanks for your comment, really appreciated. As far as I know, the home report will include the works that are coming (but I can also ask my neighbours!). What I can say is that the mortgage advisor told me that the average of flat-for-sell viewings in the area is 78, which I guess is a really positive point. Also, the flats-for-rent are removing for websites in just 24/48h because of the high demand. If we go ahead, I guess the most reasonable thing to do is having a 35 years mortgage and make overpayments and remortgage, since we can actually pay per month around the double. | |
| Jul 13, 2019 at 17:50 | history | answered | user3757614 | CC BY-SA 4.0 |