There are a lot of opportunities for First Time Buyers currently available. Along with Help To Buy, Government saving schemes (Lifetime ISA) and new build sites offering stamp duty paid, our competitive mortgage rate of the week, and Farnborough’s equally competitively priced homes could help First Time Buyers achieve more than originally planned.
Seeking out your first home in today’s busy housing market can seem a challenging task, but our advice would be to set aside any concrete ideas of what you had envisaged as your first home and consider the options available.
The first option, would be to buy something that requires a little TLC, where you could add value. To put it simply, a home you can add value to is most likely to offer financial gains in the long run. Essentially, it will leave you assured you have minimised your monthly mortgage payments the best you can, which will be your largest outlay as a property owner, whilst at the same time, leaving you better positioned financially when making future purchases. Putting it in business terms, let’s refer to the commonly used proverb ‘speculate to accumulate’. This classic phrase could offer some perspective when selecting a first home. By buying a home you can invest in and over time add value to, you will have greater reassurance that the property will be worth more when it comes to selling.
Admittedly, the mention of DIY may have left you cold, if it does not belong in your vocabulary, you may be better suited to a new build. There are many benefits which come from buying new, detailed in our blog here. Along with these benefits, we’re currently able to offer incentives such as stamp duty paid, which is often a cost that’s overlooked when First Time Buyers are calculating affordability. Buying a new scheme with this incentive will reduce your overall spend. Visit our New Homes section, here, for further details of current developments for sale.
If you’re not a huge fan of new builds, and DIY just isn’t for you, yet you’d still like to make a wise investment, perhaps purchasing in an upcoming area such as Farnborough may be a solution. Buying a property in an increasingly popular area can mean the value of your home may increase in reflection of the growth of the town itself. This could prove a winning alternative for those not keen on putting in the hard graft. As our ‘A future in Farnborough’ blog explains, this thriving town is buzzing with opportunity and prospects, so is definitely worth checking out. The competitively priced homes make for further appeal, so below is a brief glimpse of what you may find within your budget.
While finding a property that meets your budget and needs is a crucial element of home buying, another equally important factor is ensuring your mortgage is competitive. Our trusted independent financial advisors, Davenport, are currently offering an intriguing First Time Buyer incentive (see below), which also includes £500 cashback. What’s more, you only require a 5% deposit and it is fixed for two years, giving you greater financial stability and some extra cash for bits around the home, or some DIY.
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The rate of the week is continually updated each week, offering competitive offers for all, so do keep an eye out for future deals, by browsing here.
One bedroom town centre apartment
Offered with no onward chain, just a short stroll from the station and town centre, this one double bedroom apartment could prove a practical commuter pad or worthy investment. The apartment offers secure intercom access and features a lounge with Juliette balcony and communal gardens.
Two bedroom maisonette
Available with no chain, a conveniently located, two double bedroom maisonette. While in need of updating, the property would make a great investment or first purchase, featuring a spacious lounge, kitchen and bathroom, within reach of M3 and A331 road links, business communities and Frimley Park hospital.
Refurbished two bedroom house
Having benefited from renovation, the ground floor living accommodation of this two double bedroom home is light and airy and features a spacious lounge and a modern kitchen and a private garden. Nestling on the outskirts of Pinewood Park, the property is nearby schools and the M3.
Contemporary two bedroom apartment
An accessibly located two double bedroom first-floor apartment, offering a contemporary open plan lounge/diner/kitchen, two Juliet balconies, an en suite and bathroom. This investment or first-time opportunity is ideally positioned for business parks, the airport, road links and amenities. Allocated parking also available.
If any of the above homes are of interest or you are considering Farnborough as your next home, why not contact the team on 01252 375999 or e-mail firstname.lastname@example.org.