First-Time Buyer Properties under £175,000
There has been a recent update to the Land and Buildings Transaction Tax (LBTT) policies, which improves market accessibility for first-time buyers.
As of Sunday 30th June, first-time buyers are now eligible for a zero tax relief on properties up to the value of £175,000, if meeting the transaction conditions. Previously, the LBTT First-Time Buyer Relief meant that these buyers wouldn’t pay LBTT if they bought properties for £145,000 or less. If purchasing a house above the new threshold, buyers now also benefit from a portion of the benefit relief, potentially saving up to £600.
As a celebration of this news, we’ve put together some of our favourite properties that are currently on the market for £175,000 or less, perfect for any first-time buyers looking to take advantage of the relief.
Quaint cottage in a fabulous location - £150,000
This deceptively spacious one-bedroom cottage is set in idyllic rural countryside only a ten minute drive from the popular town and beach of Stonehaven.
The well-appointed property has an abundance of character and interest. It benefits from a high-ceiling lounge with multi-fuel burner feature, bright and airy kitchen will oil-burning Aga and sun room with views of the mature garden. Outside is adorned with courtyard, garden pond, flower beds, wood store and work shop.
Modern and bright granite flat - £165,000
Situated within walking distance of Union Street, this ground floor two-bedroomed flat has recently been fully renovated and modernised throughout.
We love the sleek and practical style of the kitchen and bathrooms in this property. High-spec finishing makes this an ideal home for those looking to buy for the first time and not have to worry about updating or renovating the interiors. There is a shared garden to the rear of the property and on street parking is available by way of a permit.
Sold inclusive of all kitchen goods, furniture, carpets, curtains, blinds, light fittings and shades, this city-centre home is in walk-in condition.
Style, space and great value - £135,000
Set in a traditional sandstone building in the fishing village of Gourdon, this beautiful three-bedroom maisonette would suit any growing family looking for their first great value home.
The property’s ground floor features a spacious open plan lounge and kitchen, with pleasant grey tonal decoration throughout. One of the three generously sized double bedrooms is also on the ground floor, offering the flexibility to transform into a study or dining area if required.
This home has plenty of space outdoors for entertaining children or organising get-togethers. Gourdon is a popular village with primary school, playgroup, shop and entertainment facilities.
Which one of these first-time buyer homes is your favourite?