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Home,  Lifestyle

Wanting to get onto the property ladder? Easy ways to make a start on buying your first home.

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Buying your first house is one of those milestones that really makes you take a great big sigh and pat yourself on the back. It’s something we aspire to and can show off at family parties when people ask what we’ve been up to. These days, however, it’s not as easy as it was for Mum and Dad. Post financial crisis and pre Brexit-style apocalypse means it’s an uneasy time for first time buyers, but they’re are a few hacks that can get you there a little quicker.

Saving… but the right way.

It might seem like a bit of a given, but saving the pennies is a good way to start if you want to put a deposit down on a house. However, there is a difference between saving and saving well. There are plenty of accounts out there that can really push your saving into another level and while you may think I just mean something with a good interest rate and a fancy name, government schemes are pretty much the way to go when it comes to this one. Help to buy ISA’s give you an extra 25% of your savings added onto your savings simply by opening the account. So should you save £12,000 you’ll receive a maximum of £3000 towards your deposit. Not bad right? This scheme won’t last forever though so check it out sooner rather than later!

In need of a fast track pass? Shared ownership is your answer. 

Don’t fancy waiting for your savings to cultivate? Shared ownership allows you to get on the first rung of the property ladder at a minimum cost while leaving you with a good foundation to do the climbing. You basically buy a share in a property and pay rent on the portion you don’t own at a reduced cost meaning your monthly costs are less than normal landlord fees for that area but you are still making an investment in the end. You can even buy more of your property overtime and climb the ladder without moving anywhere at all. If this doesn’t sound half bad and you fancy shared ownership in Liverpool or Brighton or even London Property Booking is the leading portal for shared ownership with just about everything you need to wiggle onto the housing market for less. 

What if I want to live in the extortionately pricey city of London?

No Problem. No really. You can. Homes for Londoners is a government scheme that is specifically tailored to help first time buyers in London, buy their first property without breaking their bank and their children’s and their grandchildren’s for generations to come. From Shared Ownership in London to London Living Rent, they offer a range of options to suit your circumstances  and kick start your journey to home ownership. With rent that is two thirds that of market value and priority on the shared ownership homes in London, it’s definitely worth considering. 

Need a help to buy a home? How about Help to Buy Homes.

Help to Buy is a great option if you don’t want to pay a great big deposit and be forced into a million bills in the first few years. Help to Buy lets you pay just 5% deposit and provides you with a 20% equity loan from the government at no interest for the first 5 years. You can’t really go wrong with these homes, especially when they are pretty much all new builds and located in some pretty sought after areas at a fraction of the price. 

So whether you’re looking into shared ownership in Newcastle with Property Booking, you fancy London Living Rent with Homes for Londoners or you’re about to log on and open a help to buy account, why wait? Setting down your roots is exciting, no matter how you choose to do it!

Rachael is a 31 year old mum to 10 year old Luke and 5 year old Oscar. She lives in England and writes about family life, crafts, recipes, parenting wins(and fails), as well as travel, days out, fashion and living the frugal lifestyle.

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