Scotland is glorious and large, ranging from extremely affordable locations to sites that require a higher income. The best way to determine if a place is affordable is to compare the income to the home price. Loans for homes are paid off with mortgages based on your down payment and how long you want to take to pay it off. Therefore, even the most expensive homes could be affordable. However, only a few cities in Scotland qualify as the most expensive locations to purchase homes.
Inverness is a city in one of the largest counties in Scotland, with plenty of access to relax. The numerous places of leisure keep residents happy, but it is expensive to purchase a home. Simply renting a small studio apartment is nearly $700 a month, and mortgages push higher than that. The average household income is $88,000. Therefore, homes are attainable, but you will need to plan accordingly.
With a population of only 32,000 people, Falkirk is a quaint small town. The ability to find work is high, but the cost to purchase a home makes it difficult for some. Even with the high prices of homes and lower-income, it is still one of the best places in the world to call home. They pride themselves in remaining classified as a town rather than a city. Most residents claim that while it cost them more to purchase the home, maintenance is very reasonable. That may be because employment is very high in the service and retail industries.
Located on the bank of Firth of Tay, Dundee is the fifth most expensive city in all of Scotland. While costly, the number of things to do and the beauty of the scenery make most residents feel the price tag is worth it. Most of the residents work in high-income jobs, including healthcare and biotechnology. Dundee is known for its contributions to the video game industry, as well as medical research. Sometimes money can buy happiness, and this city is a prime example.
Perth is part of Perthshire and located on the banks of River Tay. Part of the draw to this city is its central location and is the home to the oldest museum in Scotland. Some people refer to Perth as the Gateway to the Highlands, and it offers nature lovers a lot to enjoy. However, with all the pleasure that comes with the city, the cost is higher than in other locations. Employment is on the rise, so if you are willing to pay for a higher mortgage, this is a great place to call home.
Rated as the most expensive place in Scotland to live, Edinburgh offers residents castles and historic buildings. It is also the capital of the country and the second most populated area. Nearly half of the residents hold a college degree, and employment reflects that. Unfortunately, you can expect to pay $1,400 a month for a simple one-bedroom apartment. Mortgages are equivalent in rates.