Purchasing your dream home sounds exciting, right? Well, it certainly is. However, the process of purchasing a property can be equally as stressful and the current competitive market has exacerbated the potential for stress. Not to mention that buying a home is one of the biggest financial commitments you will ever make.
There are various reasons why you may consider purchasing a second residential property. Maybe you are looking to invest in a buy-to-let property, or maybe you would like to have a holiday home to escape to on the weekends and during the holidays. However, it is important to be aware that owning additional property in Scotland considerably affects how much tax you are liable to pay when purchasing residential property. Land and Buildings Transaction Tax (LBTT) is one of the most significant costs to consider when purchasing property in Scotland and the Additional Dwelling Supplement (ADS) is a further charge which must be considered when purchasing any additional property in Scotland.
Buying a property is typically the biggest purchase that a person makes in their life and doing it for the first time can be especially daunting and confusing. While algebra continues to be taught in schools, knowledge of the process when it comes to buying a property is normally a case of learning on the job. To assist, here is a brief guide for those looking to get on the ‘property ladder’ (please refer to the Glossary at the end of this article for terms that may be unfamiliar).
Garden predators are taking root in the courts, as householders take action to fight off plant invaders that can be highly destructive and undermine property values.
