Understanding the property market can be challenging, especially when the explanations are unintentionally confusing. Whether you're new to the property market or a seasoned homeowner, there’s lots of knowledge and terms you're just expected to know. In this article, we are going to simplify the explanation of the two terms freehold and leasehold.

What is freehold?  

A freehold property is where you are the forever owner of the property and land you are buying, until you sell it to somebody else. In Scotland, the majority of properties are freehold, except for shared ownership properties and a percentage of new-build homes. 

The property listing will always highlight the legal ownership term, so make sure to check.

What is leasehold?

A leasehold property is where you are buying the property, but not the land it has been built on. This is common in apartments, where you will lease the property from the party who owns the freehold of the building.

A leasehold property is often cheaper but time sensitive, as once that lease has ended, ownership of the property will return to the freeholder.

What’s the difference between freehold and leasehold?  

The main differences between a freehold and leasehold property are that the freehold property will be more expensive as you will outright own the property and land with no time limit, whereas a leasehold property will be cheaper as you only own the property for a certain period of time.

With freehold properties, you have complete control over changing anything. If you live in a leasehold and want to change something that will alter the external appearance (like an extension or new windows), you must contact the freeholder for permission.
Leasehold properties usually come with a regular, monthly service fee made to the freeholder for the upkeep of the building.

Are freehold and leasehold two terms you need to know?  

These two terms are extremely important to know when buying a property, as freehold and leasehold titles impact the level of ownership when buying a property.

What’s a short-term lease?  

A short lease is where you purchase a leasehold property with a short period of time remaining on the contract. Regularly priced to sell, these short leases offer a good deal, but be aware that you will have to pay for a lease renewal when it runs out, which can come at a hefty cost.

What is a commonhold?  

Commonhold is a variant of freehold, where a building with multiple occupancies is divided into freehold properties. The difference between a commonhold and a freehold is that the shared ‘common’ areas (hallways and staircases) are managed by a ‘commonhold association'—the owners of the freehold properties.

Freehold vs. leasehold: Which one’s right for you?  

When deciding to join the property ladder, various types of ownership are available to suit different situations. A freehold property is there for someone who is financially prepared and ready to take ownership of a full home, whereas a leasehold property is there to help people join the ladder easily with more affordable options, such as an apartment in a large building.

Key article takeaway  

Property terminology can be a difficult subject to understand fully, but the key points you need to remember are:

A freehold owner owns the property and land indefinitely, whereas a leasehold owner owns just the property for the length of the lease agreement. By simplifying the two terms like this, it helps you identify the two forms of legal property ownership.

The summer brings plenty of opportunity for everyone to take advantage of the nice, warm weather and enjoy their garden. In this article, we are going to explore different, creative ways to transform your garden into a perfect paradise, all while catching the eyes of friends, family, and potential buyers.

Add water features

Elements of water in a summer garden create a serene feel. Add water features that serve a purpose as well as looking pretty, like an elegant bird bath and feeder, to attract wildlife and songbirds that create harmonies in your garden.

Create defined areas  

Introduce defined areas in your garden by installing pathways, hedges, or elevations, such as a pergola, creating a secluded, shaded area perfect for dining. A pergola is a great way to add value to your home without needing planning permission, as you can add infrastructure under 2.5 metres high.

Introduce outdoor mood lighting

On summer evenings, light up your garden by adding solar lights along your outdoor pathways, creating an inviting appearance. Draw attention to specific areas you favour; use uplighters to highlight walls, trees, and enclosed cosy spaces, giving your garden more depth.

Produce a different atmosphere with a firepit or fake flame, as they generate warmth and colour in your garden, creating a cosy vibe.

Create perfect privacy  

Privacy is an important selling point in a garden, as people want their own private oasis. Replace fences with tall-growing plants, living walls, or floral bushes to create a more secluded, cosy outdoor space, and the natural greenery will soften your overall garden look.

Add colour through mother nature  

Add a pop of colour to your garden by simply adding flowers. You can achieve this by using hanging baskets, plant pots, and flower beds. You can also use vertical gardening, giving you endless possibilities for adding splashes of colour everywhere and transforming boring fences and walls into a luscious green and floral appearance.

Turning your garden into an incredible oasis is a rewarding endeavour that enhances both the beauty and functionality of your outdoor space. With these creative ideas, you can enjoy your incredible summer garden and make it a focal point when selling your home.

Moving house doesn’t have to break the bank. In fact, by planning ahead and taking tactical steps, you can get started on your next chapter with a clean slate and a well-organised home.

Here are some essential tips to help you save money and streamline your move.

Book promptly

When it comes to moving, timing is crucial. One of the best ways to save money is by booking your moving services well in advance as this gives you time to compare rates. Many moving companies also offer discounts for OAPs, key workers, and armed forces, so don’t forget to check if you’re eligible.

Get the timings right

Booking early also ensures that you get the moving date and time that best fits your schedule. During peak moving seasons, such as summer and end-of-month dates, moving companies can get booked up quickly. By planning ahead, you avoid the stress and potential extra costs of trying to find available moving services at the last minute.

Empty your cupboards

Before you start packing, take a good look at your cupboards. You might be surprised by how much food and household items you've accumulated over time. Instead of letting these items go to waste or lugging them to your new home, aim to use them up.

Meal planning

Create a meal plan that focuses on using the ingredients you already have. This approach not only reduces waste but also cuts down on your food shopping bill in the weeks leading up to your move. Be creative with your recipes and try to use as many of your cupboard staples as possible.

Sell unwanted items

Moving is the perfect time to declutter and make a bit of extra cash by selling items you no longer need. This will reduce the volume of things you need to move to your next home, while saving both time and money.
Use online platforms like eBay, Facebook Marketplace, and Vinted to sell your unwanted items. Whether it’s furniture, clothes, or electronics, there’s likely someone out there who will be interested in what you’re selling.

Declutter

Decluttering is one of the most effective ways of cutting down your moving costs. But it isn’t easy, so tackle your decluttering one room at a time. This method makes the task more manageable and ensures that you thoroughly go through each space.

Sort items into categories: keep, sell, donate, and dispose of. Be ruthless – if you haven’t used something in the past year, it’s likely you don’t need it.

Get your packing materials for free

You can save a great deal of money by getting your boxes and bubble wrap for free. Many shops and offices offer their used packing materials at no cost to reduce waste. You might even find someone in your local community offering their used boxes, so check online first before committing to paying out for your packaging.

One of the most important components when selling your home is the expert agent valuation. It will inform you of your property’s value and a potential asking price you could set when placing your property on the market.

In this article, we discuss how your property is viewed and valued in a home valuation, allowing you to gain a better understanding of how an expert agent determines your home's overall value.

Is a home valuation important?

Home valuations can affect the entire selling journey of your property, so you need to ensure they are achieved correctly. If an inaccurate valuation is completed and it’s reflected in the asking price, this could delay the sale.

The first ten days of your property on the market are the most important, as it will receive the most interest during this time. So, with this in mind, it’s crucial to ensure you have an accurate, fair representation of your home’s value in the asking price.

Knowing your home's true value can provide you with a clear budget for searching for your next home, as well as allowing you to identify the current equity within your property if you were to sell.

How does an expert agent value your property?

The expert agent will use their own experience and knowledge of the local market, along with five main physical components, to determine the value of a property.

• Location
• Layout Size
• The property's condition
• Unique features

Ultimately, the interior and exterior of your home plays a huge part. If you have a beautiful, private home with incredible characteristics and uniqueness, its value will be higher than that of an average neutral-looking home that is the same size and location.

Another huge factor is location; this determines the local amenities, schools, opportunities, and jobs the property could provide, adding value.

When valuing a property, agents use the price of comparable homes that have sold in that area as their main guide. This allows agents to identify what potential buyers are willing to pay, helping to understand the local supply and demand for property.

A combination of various factors, including your personal circumstances and the current state of the surrounding property market, will determine the value of your home.

How do you decide which agent to go with?

Choosing the right agent can be a daunting process, as your home is your most valuable asset, so shop around and speak to a variety of agents. Never choose an agent based on how much they value your home, as some agents will quote you a slightly higher value than they believe simply to get your business.

It's critical to have a connection with your chosen agent, as you will spend a lot of time with them, and you want to make sure they love and respect your property as much as you do. Trust your gut, don’t rush, and ensure you like the agent you will be working with. By working with us, we can offer support from your first home valuation all the way to exchanging contracts and discovering your next dream home.