Most of us grow up with aspirations to buy a property to call home. It has become increasingly difficult to get onto the ladder in recent years, but there are ways to overcome obstacles. If you’re ready to start searching for your first home, this guide contains top tips to help you achieve your dreams.
This is a contributed post.
SAVE AS MUCH AS POSSIBLE
The first thing to do if you want to buy a house or flat is to try to save as much as possible. Interest rates are relatively high, which means that it’s expensive to borrow. The more you can save for a deposit, the more preferable the rates. Unless you’re in a rush to buy, it’s worth biding your time and getting a decent deposit together before you start comparing mortgages. The average first-time buyer has a deposit of around 20%, but this varies dramatically depending on location and market conditions.
TAKE ADVANTAGE OF SCHEMES AND INCENTIVES
It’s well-documented that it’s harder to buy a home now than in years gone by. To help first-time buyers, there are schemes and incentives available. It’s crucial to research online and get help from government resources and financial and property websites to take full advantage. Learn more about what you’re entitled to and how to claim or enrol. In England, for example, first-time buyers can access help via the First Homes Scheme.
CHOOSE TOP-RATED ESTATE AGENTS
There are lots of ways to buy houses today, but most people still take the traditional route of working with estate agents. If you’re looking to benefit from expert local advice for homebuyers, access properties as soon as they become available and get assistance with negotiating with vendors, it’s wise to choose top-rated estate agencies. Search online, schedule calls to get to know representatives better and read verified reviews and testimonials. It’s also helpful to view portfolios and results and get recommendations from friends and family members who have bought or sold houses in the area.
CREATE A WISHLIST
Creating a wish list is a great way to outline your priorities and ensure you have a clear picture of what you want before you start searching. From choosing a location to deciding how many bedrooms you need, it’s beneficial to know what matters most to you. As you look through listings and arrange viewings, you may find that your preferences change. Use your experiences to adapt and modify your list to help you narrow down options.
It’s critical to have realistic expectations. If you have a modest budget, for example, it’s not realistic to aim for a substantial detached property in a real estate hot spot. Research local markets and get a sense of what you can afford in different areas. Being flexible in terms of your location, the style of the property and the condition of homes can help you access a wider range of options.
Buying a home is something many of us dream of, but it’s not always easy. In recent years, it’s become increasingly hard to get onto the ladder. To maximise your chances, it’s beneficial to save as much as possible for a deposit, seek expert advice, take advantage of schemes and incentives for first homes and create a wishlist for your search.
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