Unique Property Bulletin advocate title-splitting as a way to help the those of us in our 60s whom have lived through a tome of high house price inflation, start to help the next generations afford their homes.
Rather than just waffle on about a theory, we actually tested whether what we thought would be a good idea and result in a 25% reduction in cost for the next generation to buy a home.
That first test was when we bought the Strathy lighthouse Station. It consisted of 5 homes in one lot.
The theory is this…
Far fewer folk can afford to play at the multiple-property level. Those thatvdo, often need a commercial mortage and these require large deposits and are as rare as hens teeth.
Problem 1 (for sellers): The fewer the number of buyers, the lower your offers will be. We can state that as FACT, because in 1990s Strathy Point Lighthouse Station (consisting of 5 homes in one lot) got stuck at Offers Over £100,000.
Solution 1: (for buyers):
Putting words into practice..
Proof of Concept
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Doctors In The Far North
182,000 folk looking and 12 buyers = 1 nervous doctor/buyer.
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