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Leslie Deans & Co Offices |
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3 St Patrick Street
Edinburgh, EH8 9ES
Tel: 0131 667 1900
Email:
Click Here |
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135-137 St Johns Road
Corstorphine
Edinburgh, EH12 7SB
Tel: 0131 466 6226
Email:
Click Here |
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2 Lothian Street
Bonnyrigg
Midlothian, EH19 3AD
Tel: 0131 663 4022
Email:
Click Here |
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31A High Street
South Queensferry
Edinburgh, EH30 9PP
Tel: 0131 331 3560
Email:
Click Here |
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First Time Buyer? |
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| Are you thinking of
buying your first property? How do you start? |
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Come along to 144 High
Street, Dunbar and we will talk you through
the A - Z of buying your first property from arranging the finance,
the
legal work and the survey report to handing over the keys to your
new
property. |
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We will keep you
informed throughout the entire process as your
purchase progresses. The process is very informal, informative and
hopefully interesting. |
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| Renting a Property |
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Advantages:
1. No responsibility. You can leave at any time subject to one
month's
notice (short assured tenancy).
2. Probably cheaper than a mortgage. Locally, a one-bedroom flat
will
cost around £400 per month, a two bedroom property around
£550
per month and three bedroom property with a garden around
£750.
3. The landlord will insure, furnish and equip the property. |
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Disadvantages:
1. The landlord can serve one month's notice on you at any time
(short assured tenancy),
2. You cannot decorate, alter or improve the property in any way
without the landlord's permission.
3. You will be required to pay a deposit of normally one month's
rent,
sometimes more. This is returned to you when you leave,
subject
to no damage to the property, etc.
4. Capital growth - whilst you are renting the property value
increases
but it is the landlord who benefits. As an example, one of
our clients
bought a one-bedroom flat in 1998 for £28K. It is now valued
at
£120K and the same tenant is there with 10 year old
furniture,
decor, etc.
5. A rented flat is a house, an owned flat is a home. |
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| Buying a Property |
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Advantages:
1. The housed becomes your home.
2. You can improve the property by decorating it, fitting a new
kitchen,
extending it, fitting a conservatory (subject to planning
permission
where required), etc.
3. You get on the "property ladder" and gain the benefit of any
capital
growth. For example, one of our clients bought his first
property (a
two-bedroom flat in Musselburgh in 1994 for £38K. In 1997 he
sold
it for £55K then bought a three-bedroom semi-detached house
in
Dunbar for £85K. In 2001 he bought a new four-bedroom
detached
property in Dunbar for £175K, getting £115K from the builder
in
part-exchange. In 2007 he sold the property for £345K and
moved
on. This is how the "property ladder" works.
N.B. We cannot guarantee that the market will continue to
rise but
over the past 40 years properties have, on average, doubled
in value
every 10 years.
4. You cannot be given a month's notice and have to move out.
5. It is easier to get credit for car loans, etc. if you own
property. |
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Make your choice and if
you decide to buy, give us a call to discuss
your requirements with our property advisor. We look forward to
hearing from you. |
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