Buying In Edinburgh

[hello84]

Is now a good time to buy in Edinburgh city centre?

Looking for a 1 or 2 bed flat for between £120,000 to £175,000 in central area and seem to be quite a few available.

Is there much demand for letting these flats? Work commitments mean I may not always be around so would be looking to let during certain periods, or to permanently let one of the two rooms. What is the going rate for letting of a 2 bed city centre flat?

Thanks

[pyracantha]

Is now a good time to buy in Edinburgh city centre?

Looking for a 1 or 2 bed flat for between £120,000 to £175,000 in central area and seem to be quite a few available.

Is there much demand for letting these flats? Work commitments mean I may not always be around so would be looking to let during certain periods, or to permanently let one of the two rooms. What is the going rate for letting of a 2 bed city centre flat?

Thanks

You don't seem to have done any research yourself. If you are going to spend that much money on a property why have you not found out what the going rate is, or demand levels yourself?

To save you the massive effort:

http://www.rightmove.co.uk/property-to-rent/find.html?searchType=RENT&locationIdentifier=REGION^61464&insId=2&radius=0.0&displayPropertyType=flats&minBedrooms=&maxBedrooms=2&minPrice=&maxPrice=&maxDaysSinceAdded=&retirement=&sortByPriceDescending=&_includeLetAgreed=on&primaryDisplayPropertyType=&secondaryDisplayPropertyType=&oldDisplayPropertyType=&oldPrimaryDisplayPropertyType=&letType=&letFurnishType=&houseFlatShare=false

If you are genuine, you seem to be lost.

[kenzdawg]

Is now a good time to buy in Edinburgh city centre?

Looking for a 1 or 2 bed flat for between £120,000 to £175,000 in central area and seem to be quite a few available.

Is there much demand for letting these flats? Work commitments mean I may not always be around so would be looking to let during certain periods, or to permanently let one of the two rooms. What is the going rate for letting of a 2 bed city centre flat?

Thanks

No, its a falling market, albeit agonisingly slowly. Does it work for you? Dunno, but if you've come here hoping we'll talk you into it you're on to a hiding to nothing.

Check out citylets.co.uk for info on the rental market. Otherwise, DYOR.

[hello84]

This site is my research. What better way than to ask the experts.

Looks like the answer is not to buy.

Thanks - I'm in no rush.

[hello84]

Mortgage is a similar price to rent though so not sure it's such a bad time.

[Venger]

Mortgage is a similar price to rent though so not sure it's such a bad time.

Go for it then.

[doahh]

Mortgage is a similar price to rent though so not sure it's such a bad time.

You may want to do a bit more research than just looking on this site, you will almost always get a 'don't buy now' here at the moment. Mortgage interest rates can can not get much lower so they will need to rise, the question that no-one can answer is when. You should ask yourself if you can afford the increases when the rises come or will you be selling - probably into a falling market at that time.

[ZeroSumGame]

Is now a good time to buy in Edinburgh city centre?

Yes.

[Stainless Sam]

If you are a local and want to make money in the capital of an independant Scotland, (at least until financial reality dawns and the whole lot comes crashing down) then you can't go wrong. Fill yer boots. Heck, even get an RBS mortgage.

They'll be so drunk on euphoria you'll have hoards of kilted entrepreneurs plying you with their new petro-groats to buy your sh!tty tenement at a hugely inflated profit.

If you are English and might have the risk of repatriating your money once it inevitably goes t!itsup then you might like to think twice.

Edited June 10, 2013 by Stainless Sam

[ccc]

I would be wary about buying flats now that the council doesn't do the repair scheme anymore.

Think we are gonna have loads of very messy and costly situations - that i personally would not want to be part of.

[ccc]

I would be wary about buying flats now that the council doesn't do the repair scheme anymore.

Think we are gonna have loads of very messy and costly situations - that i personally would not want to be part of.

Update to this 3 years later ! Let me work out how to upload the picture.

[ccc]

Letter from council. What can you say.

[ccc]

Have a read of this. Erased from history. Great for those trying to sell a flat in a block that's falling apart. What about the ******ing buyer ?!

This is ******ing insane. Unless this has all just fixed itself magically - then it's going to be 6 years worse than it was when the original notice was issued.

Mental.

[BessOfHardwick]

Dear God, and the reason it all went wrong was the council's own corruption. The council that spent a billion on a tram. It was a key reason for me selling, now you can't force other owners, even where they are entirely traceable, to carry out repairs. Supposedly they are responsible if said maintenance is 'on the title deeds' but you could easily have a court case where someone just didn't want to do it, because title deeds are old and limited to certain structures only. If someone just didn't want to do the repair and you wanted to sell, you could be fooked.

I am impressed by the erasure from history, the good old Cooncil must have a new department of Winston Smiths. And they will be busy.

[ccc]

I've realised that any of these that are being 'erased' will 100% not have been fixed. Because if you had somehow managed to get this done - the first thing you would do would be to get this updated at the council - as it isn't good if you were ever wanting to sell the place.