Real Estate in Shetland Islands, Scotland
Last updated on Sep 03, 2024
Summary: Expats and retirees talk about real estate in Shetland Islands, Scotland? How do you find a home in Shetland Islands? Should you buy or rent? What is the cost of housing?
What is a typical expat home or apartment like in Shetland Islands?
"A typical expat home or apartment in the Shetland Islands, is often a traditional stone-built house, reflecting the local architecture. These homes are usually detached or semi-detached, with a small garden or yard. The interiors are often modern and well-insulated to protect against the harsh weather conditions. The homes usually have a cozy living room with a fireplace, a fully equipped kitchen, and one to three bedrooms. Many homes also have stunning views of the surrounding landscapes, including the sea, hills, or local wildlife. Some expats may choose to live in more modern apartments in the town of Lerwick, which offer similar amenities but in a more urban setting. Regardless of the type of home, most expats in the Shetland Islands enjoy a peaceful, rural lifestyle with easy access to outdoor activities," said one person in Shetland Islands.
What is the average cost of housing in Shetland Islands?
If you are thinking about moving to Shetland Islands, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in the Shetland Islands, can vary greatly depending on the type and location of the property. However, as of recent data, the average price for a property in the Shetland Islands is typically around the mid to high five-figure range in GBP. This is relatively lower compared to the national average in Scotland. It's important to note that prices can fluctuate and may have changed since the time of this writing," said one expat who made the move to Shetland Islands.
Should I buy or rent a home in Shetland Islands?
If you have not spent a lot of time in Shetland Islands, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"The decision to buy or rent a home in the Shetland Islands, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in the Shetland Islands for a long period, buying a home could be a good investment. Owning a property allows you to build equity over time and could provide financial security in the future. However, buying a home also comes with additional costs such as maintenance, insurance, and property taxes. It also requires a significant upfront investment for the down payment and closing costs. Therefore, if you're not financially ready for these expenses, renting might be a better option. Renting a home in the Shetland Islands offers more flexibility. It's a good option if you're not sure about your long-term plans or if you prefer not to deal with the responsibilities of homeownership. Renting can also be more affordable in the short term, as it typically requires a smaller upfront cost and you won't have to worry about property taxes or maintenance costs. However, renting doesn't build equity and rent prices can increase over time. You also have less control over your living situation, as you're subject to the rules and decisions of your landlord. In conclusion, whether you should buy or rent a home in the Shetland Islands depends on your financial situation, long-term plans, and personal preferences. It's important to carefully consider these factors and possibly seek advice from a financial advisor before making a decision," said one person in Shetland Islands.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
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