Buying Homes

This post, sponsored by Barratt Homes, was contributed by Charlotte Walker. Barratt has a number of first time buyer offers to help people get onto the property ladder.

Like most prospective first-time home buyers, you’ve probably listened to the advice of friends, family and workmates. Many of them will have encouraged you to buy a home. However, it’s understandable if you’re still wondering whether such a big step is right for you. First time buying is daunting for every new homeowner.
Here are 5 good reasons why you should get yourself on the property ladder in 2022.

It’s A Buyer’s Market

First time buyers are in a very strong position right now. With fewer buyers in the market you can get on the property ladder quickly. Use this to your advantage, and drive a hard bargain.

New Built Houses Are Cheaper

The fall in the property market has not been kind to developers. Many are struggling to sell two bedroom flats in some locations. If you shop around, you could get a good price on a new built home or, at the very least, persuade the builder to include a bunch of extras.

Pride of ownership

Pride of ownership is the number one reason why people want to own their home. You can decorate your place any way you want. With home ownership comes a sense of stability and security. It’s making an investment in your future. Like your grandmother used to say, “Put your money in bricks and mortar, it’s safer than sticking it under the mattress.”

Appreciation

Although housing prices fluctuate, property tends to appreciate in value over time in a way which few other purchases – such as cars, for instance – do. Many people view their investment in a home as a protection against inflation, and with good reason.

Government Schemes For First Time Buyers

If you live in England, but can’t afford to buy a flat or house, you may get financial help to buy a home. There are many ways to get help buying new built homes; here are just a couple:

Getting a loan towards the home’s purchase price which has no fees for five years
Shared ownership: you buy a share of your home and pay rent on the remaining share. You will need to take out a mortgage to pay for your share of the home’s purchase price.

When you can afford it, you can pay more money – for example, through savings or your mortgage – to own your home outright.