Buying a house used to be one of the scariest words in many singleton’s vocabularies, almost as bad as Valentine’s day. There is no denying that buying a house on your own is tough.
Not only do you need to raise the deposit solo, but you’re are also shouldering the mortgage on your own. However, Zoopla has revealed that buying on your own can still a reality, especially if you live in Liverpool.
Zoopla has looked into mortgage affordability and the percentage of single-person households, to work out the best places in the UK for singletons to buy. They also analysed the number of possible date locations, because while you don’t need a significant other to buy a home, they can be a bonus.
Liverpool stole the top spot as the best property destination for singletons. Or if you prefer Emma Watson’s turn of phrase – ‘self-partnered’.
Buyers in the northern city required the smallest average mortgage at £341 for a one-bed home. This is equal to 10.2 per cent of the average salary in the city.
In terms of date locations, it is safe to say Liverpool is not lacking. In the city there are three restaurants, bars or clubs for every 1,000 people.
However, Scotland is home to two of the next best places to buy on your own. Aberdeen came in second place, with 20 per cent of city-dwellers living on there own.
However, singletons would need to put aside an extra 10 per cent of their salary for a mortgage than in Liverpool. Edinburgh came in third place with the same average monthly mortgage as Aberdeen at £526.
Cardiff and Newcastle upon Tyne came in fourth and fifth place, respectively. But they both had much smaller mortgage payments than across the border at £363 and £392.
‘We know the worth of purchasing your first home and for many people, it’s their biggest financial commitment,’ says Richard Houston, Zoopla consumer spokesperson.
‘Those looking to purchase a home on their own will likely feel the pressure all the more, or worse, still feel that buying alone is out of reach,’ he adds. ‘Our analysis reveals that it is still possible for someone to afford a property on your own.’
Hopefully, now buying a home on your own now sounds a little less scary. All that is left is to endure the remainder of Valentine’s Day.
Our suggestion? Crack open the rosé with your friends or treat yourself to a spa night in.
The post Why wait around for your soulmate? Zoopla reveals the best places to buy a home on your own appeared first on Ideal Home.