Why 2022 is the best time to buy your first home
If you’ve been thinking about buying your first home, you’ll be glad to know 2022 is very promising for first time buyers out there. With big changes across the market and government schemes to help first time buyers get on the property ladder there’s lots of opportunities to take advantage of whether you’re looking for a big family home or a shared ownership apartment in Acton. Moreover, with useful resources (related to buying homes) found on the Internet, it could be even easier for you to learn about the procedure of purchasing the first dwelling of your dreams. For instance, helpful home buying tips found online can provide you with an insight into the paperwork necessary for buying a house. Such resources can also help you understand down payments and other finance options. Anyway, if you’re planning on buying a home in 2022, then first ensure that you know what’s available to you and how you can get the most for your money.
These homes are reshaping the property market across the country but especially the cosmopolitan centre of the UK’s capital. Shared Ownership allows you to part buy a home and rent the rest at a low monthly cost. You can buy between 10 and 75% share in a property and increase this amount over time allowing you to make more profit should you decide to sell. You can eventually own the entire property and increase your ownership as it suits your plans and your finances.These homes are also all new developments so you can be sure to have the most high spec of interiors and plenty of modern and decorative features. As you only buy your home in shares, you only have to put down a deposit on the share, meaning you could save a lot when it comes to those upfront payments. And with flexible shares, the size of mortgage you want to take on is totally up to you. Shared Ownership is a great way to buy your home if you want to put down a smaller deposit and take out a smaller mortgage and with property sites like connectwithhome.co.uk offering a whole range of properties from shared ownership homes in Hampshire to North London, there’s certainly plenty of choice.
Help to Buy
Help to Buy is a great way to get on the property ladder for first time buyers. With a 5% deposit and 20% equity loan help to buy takes the pressure off house buying and cuts down those initial payments. Help to Buy has seen a few changes in recent years including the regional price capl. This means if you’re living in London Help to Buy applies to homes up to properties of a value of 400,000, whereas in places like Greater Manchester the caps look a little more 225,000. The scheme is well worth looking at especially if you’re thinking about living in London as the equity loan increases to 40% in this region. This loan carries zero interest for the first 5 years and is a great option especially if you want to take the pressure off and ease into the mortgage payments. Help to buy homes are often all new builds so you can enjoy moving into a brand new property whether it’s in the city centre or the greener suburbs.
Another great way to get on the property ladder, especially if you’re looking to live near the city centre is to look around the commuter towns. With plenty of areas seeing a whole host or regeneration and plenty of new homes, these areas are a great option if you want to take advantage of housing schemes. Commuter towns like Dartford or Acton are great places to move to as a young professional and with plenty of homes to choose from, from shared ownership homes in Ebbsfleet to help to buy homes in Maidstone, you can take advantage of the new amenities, business opportunities and seamless transport links here.