Buying home is £31000 cheaper than renting one in Scotland

for those looking to buy a now is the time to do so in Scotland. according to the scotsmans national news paper the cost of owning is now a lot cheaper compared to owning by 31,000 pounds over the coarse of a mortgage that is an astonishing deal if you tell me. the cost of home owning is so low that it really makes no sense to rent. might as well put you money towards something that at the end of the day is going to be yours.

Key Takeaways:

  • 31000 GBP is found to be saved over the course of a mortgage over renting alone.
  • Mortgages went down 253 GBP a month in that same time while rents went up 33 GBP
  • Remember the savings don’t include any closing fees or taxes, but still show a significant saving in the long run.

“Although the percentage difference is highest in Scotland and south-west England, Londoners save the most money per year compared with renters, with the typical first-time buyer paying £183 a month less than the average renter – £1,363 against £1,545 rent – an annual saving of £2,191.”

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