Renting or part - Exchange

crvs

All,


We live in Aberdeen and own a 2 bed room flat near university and have 65% of mortgage left to pay. We are blessed with a baby earlier this year so need more space. We are planning to look for 3/4 bed room + 2 bath property in well established school catchment area.


Looking for a property in west end with 2 bath room will easily start at approx £3250000. There are also new development property but not sure of the pricing. (Property market in Aberdeen is much similar to London's market)


We have two option to pursue.


1. Do part exchange for new development.
2. Rent the current property and look for family home around Aberdeen with easy commute. According to Zoopla , we can rent our current flat for £900 per month.


All suggestion will be considered to make our decision.


Thanks,
Vidhya

tberry6686

Please remember that in Aberdeen properties are generally going for over the asking price, especially in the west end.

£325k for a 3/4 bed 2 bathroom in the west end is likely to be on the low side of what I would expect (probably closer to £500k depending on location in the west end).

New development will have a fixed price but you will be unlikely to be able to get much added in with it as demand is high.

If the new development is the one I am thinking of then I would look at established properies instead. Rooms tend to be much bigger and the quality far higher.

crvs

tberry6686 wrote: »

£325k for a 3/4 bed 2 bathroom in the west end is likely to be on the low side of what I would expect (probably closer to £500k depending on location in the west end).

I think you are correct with £500 thousand figure.

tberry6686 wrote: »

If the new development is the one I am thinking of then I would look at established properies instead. Rooms tend to be much bigger and the quality far higher.

Do you have suggestion for new development. Any idea about Dandara's development in west end?


Vidhya




Do

tberry6686

That was the one I was thinking of. The older west end properties offer far bigger rooms and were built to last. They will hold/increase in value more than a new build.