Living the valuable time of your life largely depends upon the place and its surroundings. With the hustle and bustle of everyday activities, almost every individual would like to have a serene environment. And residing at the most astonishing place has its pleasure.
Edinburgh is such a city in the sovereign state of the United Kingdom (UK) where people dream of having a house there. In November 2019, it was ranked among the top ten most popular cities to stay in the UK along with Aberdeen*.
*(Demos-PwC Good Growth did the study for Cities index based on the factors, such as life, transport, housing affordability, healthcare facilities, working culture, the income of the locals, and opportunities for new business start-ups.)
Edinburgh – a City that is worth to Introduce
Perhaps the best presenter of beautiful amalgamation between traditional and modern values, Edinburgh is a mesmerising place not only for the visitors across the globe but for those who are seeking for a new home. Surrounded by towns and villages, it has the population around 518,500 with the majority of them belong to the young generation, i.e. 19.5%. Many of the residents have born in Edinburgh, but another community has come from England and Scotland.
The city has been blessed with a robust economy and the highest number of professionals in the entire UK. In 2012-13, it was declared as the Best Large City of the Future of for Foreign Direct Investment and Strategy. By talking about employment opportunities, the residents enjoy massive opportunities within the financial sector.
The other features of this astounding place in Scotland are widespread green surroundings, a sufficient number of bars and restaurants, excellent shopping centres, convenient transportation, and vast educational hubs.
Living in Edinburgh – Some Facts and Figures to Consider
Are you planning to move home to Edinburgh? If yes, it is always a good thing to do because this place is undoubtedly a pleasure to have a home there. Since it is a big decision to take, you should not do anything in a hurry. You should have the understanding of all insights and underlying infrastructure that the city is possessing. Here in this blog, we are briefing some valuable facts that will make everything clear for you. Please go through the given below table.
|Living Factors (as per the monthly basis)||Family||Single Person||Students|
|FOOD & GROCERIES||£100-£200 on weekly basis||£50-£80||£50-£80|
|HEALTH SECTOR||Very Reasonable (especially for kids)||NA||NA|
|TRANSPORTATION||£50-£60 daily (a total estimate of the bus, tram and train)||£50-£60 daily (a total estimate of the bus, tram and train)||£30-£50 (most of the students in Edinburgh prefer to walk or use cycle)|
|ACCOMMODATION COST||£4000 per month (including utility expenses and mortgage interest rates)||£1500-£1800 (including utilities and hostel or apartment)||£500 (approx.). The cost can vary among private halls, university accommodation and private home.|
|INTERNET SERVICES||£25-£30 (including all major internet service provider)||£25-£30 (including all major internet service provider)||NA|
|EDUCATION COSTS||£900-£11000 (it is an estimate taking from school to university level)||NA||Tuition Fees starts from £20, but the maximum limit depends upon the particular school or university|
The above explanation indicates that Edinburgh may be small in the area, but it has plenty of features that make it a vibrant place to the city.
TOP 5 PLACES TO HAVE A HOME IN EDINBURGH
There are not many doubts if someone is planning to move home to the capital of Scotland. Here is the list of the top five places to live in Edinburgh:
- The Grange
Let us make your familiar with these cities in detail.
Known for its vast transport communication with other towns, Marchmont is among the most preferred places to locate a home. Not only the families, but students too prefer to stay here by considering the presence of Edinburgh University. If you want a home in this city, you can choose between 2, 3, 4 bedroom houses, flats, detached houses, bungalows, terraced houses and apartments. In Marchmont, the AVERAGE HOME COST is between £400,000 and £550,000.
The best location to buy a home would be near to the City Centre or mesmerising Victorian Crescent, as you can have adequate employment opportunities there.
Situated in the suburb of Edinburgh, the city promises comfortable locations to buy a home. It is perhaps the best place for those who are looking to home purchase at the cheaper rates. Its AVERAGE HOME COST can revolve around £150,000 to £300,000. If we take the recent property trend in Liberton, then we can summarise the average cost of purchasing a home around £270,257, which is quite cheaper than other locations here.
The city is the abode of popular monuments and very famous Liberton High School that assures excellent education for your kids. Flats here are the most preferred type of property.
Colinton is also a beautiful place in Edinburgh if someone is looking to buy a home there. It is located at the south-west of the city centre and boasts of the vast presence of schools, shops and street markets. The place is primarily famous for the Colinton Village.
If you want to purchase a home at this place, then you must have the arrangement of the amount around £499,006. Terraced houses are beautiful here, and it has nice transport facilities.
Buy a home at the north-west of Edinburgh where the place called Barnton gives you a unique chance of property purchase. Terrace houses, flats, detached houses, semi-detached house are regularly on sale here. Inevitably, you become fond of its beautiful homes. But to purchase them, you have to spend at an average of £250,000 to £350,000.
At here, you can have the benefits of large roads, amazing gardens, Golf courses, and Tennis club. It also has a significant presence of educational institutions like The Royal High School.
5. The Grange
Last but not least, The Grange also showers the opportunities to make the home purchase without any hassle. According to the recent trends, this city is among the most expensive to buy a home with an average cost of £794,007. If you do not have enough money to purchase the bungalows or terrace houses, you can go for 1 bedroom flat that may cost around £189,000, 2 bedroom flat at an average of £250,000 or 3 bedrooms flat £375,000.
In case you are planning to move to The Grange or The Grange Road, it will be an ideal place to spend crucial days of life. Your kids will have the education at best convenient, and there is no scarcity of earning opportunities.
How to Mortgage a Home in Edinburgh – Do you need a broker?
You are now well familiar with the average cost of a home purchase in Edinburgh and its surprising places, which are mentioned above. Let’s conclude them here:
- Flats = £180,030
- Terraced = £240,020
- Semi-detached = £290,450
- Detached = £470,780
The home purchasing price is now within your understanding, and you can plan accordingly to move ahead. A very few people have such a huge income so that they can bear that amount from their earnings or savings. Applying for the mortgage comes as the most useful option to fulfil the desire. Like other parts of the United Kingdom (UK), Edinburgh has the vast presence of mortgage lenders. Some of them are the branches of traditional financial institutions like banks and others belong to the private category.
Approaching them directly would not be possible if you want an early revert. Besides, you may find it tricky to choose the best one of them. In such a scenario, you have to explore the search engines to find out ‘mortgage broker near me’. Here are the benefits that you get after hiring a broker:
- It saves your time, as you do not need to travel around the marketplace and approach the individual lender
- You have the best chance of getting assistance from reliable UK mortgage lenders
- Your money can also be saved as you can prevent yourself from the expensive deals
Once you can find out the mortgage advisor, then start the process immediately.
The Procedure of getting a mortgage in Edinburgh:
- Fill an online form in the broker’s website
- Insert all the details including the amount
- After completing the form, click on to the ‘submit’ button
The broker quickly reverts you with the possible mortgage for moving home deals in which you can choose the best one. Subsequently, the expert finalises a meeting between you and your lender where you can decide everything for the best possible outcomes.
Edinburgh is undoubtedly a place in the UK that has been blessed with rich culture and tradition. The features mentioned above and the opportunities for better living ensure that the city is among the top living places in the entire region.
From the infrastructure to educational institutes to health care facilities, buying a home in Edinburgh will be your right decision.