With the housing market squeezed to it’s maximum these days and many first-time buyers struggling to get onto the property ladder there are many things to think about when you are decided on a place to settle down. Whether you are hoping to move to a suburban garden town for the kids or you’re just moving out for the first time there is a place for you with your budget in mind. It’s not always an easy decision so think carefully about what your necessities are and the boxes you want to tick. Prioritise what’s important to you and the things you will regard more as a luxury when it comes to viewing housing and weighing up your options. Because deciding on a place to set down your roots is never one to be taken lightly.
Do you want to be close to family? Are you looking further afield? Are you a city slicker or a rural rambler? Deciding your location is probably one of the most important decisions and depends completely on what you want from a home. While there are many benefits to both rural and city areas keep in mind your reason for moving.
A lot of people searching for a place to start a family choose the classic suburbia, with its wide-open spaces but not being too far from the central hub of the area. Keep in mind journey times to and from work and features of the area that you regard as a priority such as schools or sports facilities. Go online and find out as much as you can about an area, it’s reputation, it’s up and coming developments and its community to give you a feel for where you’ll be looking to live. These areas often have a lot availability with properties available for shared ownership in Canterbury that provide a scenic countryside while being shrouded in history and well-maintained buildings.
This really should be your first consideration when looking at housing and what is in your price range. While you will have saved for a deposit you may be worried about the affordability with places like London, but not to worry. There are plenty of schemes that will help you get your dream home without the stresses.
Help to Buy is a government scheme this will allow you to borrow an equity loan of 20% of the value of your home that has zero interest for five years. You will also only pay a 5% deposit for the house meaning your mortgage will only be 75% of the home rather than the usual 90%. This is an easy way of getting onto the property ladder without panicking about a whopping deposit and knowing you can relax for the first five years. There are plenty of places that offer this too so whether you’re looking for properties for sale in Barnet or a more inner-city area of the north there will be something out there for you.
Shared-ownership is also a great way to own your first home for less than you would expect. By buying a up to 75% of your home and renting the rest from a housing organisation you will only have to pay the deposit on the percentage you are going to buy so for 50% of a £200,000 your deposit will only be £10,000. You will benefit from a much smaller mortgage and reduced rent as housing associations are non-profit and have your best interests in mind. There are even opportunities for shared-ownership in London, making the country’s capital far more accessible to first-time buyers and modest income families alike.
Space and Age
When beginning your search make sure you know what kind of house you are looking for. Different homes come with different benefits and drawbacks, for example an older home may need more renovation but may be more suited to your style and a new build may have less space but will be ready to move into straight away.
Consider how much room you will need and how much money you have saved to build extensions or renovate as it can quickly add up. While older houses can be beautiful they come with costs of repair and reworking especially if it is Victorian or older as upstairs bathrooms may need to be installed or heating and lighting redone. New builds can be more expensive but will come with the newest systems such as underfloor heating which can be perfect if you’re looking for your first family home. If you’re looking for something newer there are properties for sale in Ebbsfleet, a new and upcoming garden town with direct links to London and plenty of open spaces.
So, whatever you may be looking for remember searching for the perfect home can take time. Consider everything before deciding on your new abode and keep in mind your plans for the future. And while life doesn’t always go to plan make sure you choose yourself a safe comfy cave to curl up into no matter the eventualities.