Making the decision to buy your first home can be equally exciting and daunting. You might wonder whether buying a home is the right decision for you – but there are many benefits to owning your own place! Read on to find out everything you should think about before you decide to buy a home.
It’s a big investment.
Buying a home is a huge investment, there’s no doubt about it. You need to consider whether you can really afford it, or are you going to struggle to make your payments? Do you have a secure job? You have to be realistic about your finances!
These days, with the price of rent and the cost-of-living crisis, it can be difficult for many people to build up enough savings for a traditional deposit on their first home. If you, like many people, are finding yourself in this position, there are alternative ways to buy.
Shared Ownership is an excellent option for those who want to own their own home over time, without the need for a huge deposit.
You can find out more about our Shared Ownership schemes here.
By buying rather than renting, you are investing in your future, rather than spending money paying off someone else’s mortgage!
New or old?
One of the biggest things to consider is whether you want to purchase an existing or new build home.
There are many benefits to purchasing a new build home. There is no forward chain, meaning that as soon as you are ready you can move into your new home. Everything is completely new, so there are no concerns about quality or any issues you might find lurking behind the scenes in a house after you have already bought it!
Buying a new build home is also a great option for first time buyers as you can access more buying schemes that will help you to get onto the property ladder.
You can make it your own
Owning your own home means that you can decorate however you like, whenever you like! You don’t need permission from a Landlord. You can also start to think about things like pets – as you may not be allowed to have pets if you are renting. It’s your home and no one can tell you what to do with it!
Making your home your own and adding home improvements to it can also increase the value of your property.
Think you’re ready to buy?
If you decide to buy a home with us, we can help to make your moving experience…moving! We will make sure that you have the most amazing experience in buying your first new build home.
Contact us today to learn more!