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Digital Subscriptions > Argyllshire Advertiser > 14th April 2017 > THE LIFETIME OF HOME BUYING IN SCOTLAND REVEALED

THE LIFETIME OF HOME BUYING IN SCOTLAND REVEALED

The average homeowner in Scotland bought their first home aged 27, will live in eight different properties and will spend £25,213 on redecorating during their lifetime, according to new research.

Scots will typically move out of their parental home at 21 years old and reside in two rental properties before getting on the property ladder for the first time. A typical Scottish homeowner will end up living approximately 60 miles away from their childhood home, and will live in only two cities their entire life. The average mortgage will take 20 years and 10 months to pay off – one month above the UK average. This will cost a total of £113,207, which is £21,658 lower than the typical national spend. While a total of £14,183 will be spent on hiring removal vans, paying the legal fees and paying the stamp duty. This is only £45 above the UK average.

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