Buying a home is probably the most expensive item you will ever purchase in your lifetime.
If you are a first time buyer you need to make sure your finances are in place before you start looking for your new home. There are helpful ideas to be found by going online, for advice there are helpful websites available so check them out.
Some banks offer incentives as fixed rate mortgages and help to buy savings schemes.
Also think about co-ownership available to borrowers needing a little assistance to get on the property ladder. A financial advisor is good to be in contact with as they can give good advice on choices of mortgages, etc.
New build ‘turn key’ developments are a popular choice especially for first time buyers.
The advantages of turn-key is you move into a house with almost nothing to do. The kitchens are fully fitted with all necessary appliances installed and part tiled walls and also floors tiles. Bathrooms and en-suites are fully installed often with tiled splashbacks to basins and walls tiled where showers and baths are fitted.
In many cases the properties are painted, walls, skirting boards, etc. Sometimes even the gardens are laid to lawn. If buying off-plan before any building has commenced you can at an extra cost have maybe a conservatory, sunroom or garage added.
Buying older properties most likely means having to spend money refurbishing.
You will need to set money aside for renovation costs. If the property requires a lot of work consider the cost of paying a tradesman as skilled labour can be very expensive.
On the other hand experience in DIY and the skills required can cut costs. Also shopping wisely for materials can be a big saving.
A good renovation project or improving a property can add value and is an excellent way to start on the property ladder.
Our advice would be ‘buy the worst house on the best street’, then you can be almost sure it will be worth the blood, sweat and tears!