Buying A New Home This Year
The following is a guest post.
The life of a prospective first time buyer is difficult. Whilst renting may be perfect for some, you may have had enough of paying out money each month for a property that you don’t own. You’ve probably scoured the market looking for that perfect new home and kept your eye on the changing mortgage rates with lenders such as Virgin Money. Your parents probably have an opinion. Your friends may think you should consider the freedom you have with renting. Is it too much of a big step? Can you afford it?
In reality, it’s a minefield. So, we’re here to help with a few reasons why you should make this year the year you finally jump onto that ladder.
A Buyer’s Market
First time buyers can find themselves in quite a strong position at the moment. With fewer people entering into the market you may be able to get onto the ladder quickly. It’s possible to use this to your advantage and drive a hard bargain.
If you’re buying a home to actually live in rather than as an investment, the reported dip in the housing market shouldn’t necessarily be something to worry you. As a first time buyer your principal thought is having somewhere to call home and it could be for the foreseeable future.
With that in mind, you can decorate it exactly as you want and make any changes you wish. Just think, the money spent each month will be going towards something which is yours not straight into the pocket of a landlord.
New Build Houses
If you look into new developments rather than going down the route of an older property you may be able to find yourself a great bargain. You’ll also be moving into a property that is ready to live in immediately. That means little to no problems when you move in.
Unlike other forms of ownership, once you buy a house there’s the potential that it will increase in value. With property you can do all manner of improvements to boost the value. If you do, when you do eventually move, it may well be to your advantage