I want to buy my dream home: first time buying tips
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Disclaimer: I am not an expert and I’ve not bought a home yet (I wish!) However, I’m currently on a journey of seeking information and advice because I want to get on the property ladder in the future. Here’s what I’ve learned so far.
I’ve always wanted to buy my dream home. Buying a home will give me a place to call my own, as well as a sense of stability. I don’t want to rent forever.
Even though I can’t buy a home right now, I’ve started researching and preparing for that big step. I’ve been on a journey to figure out how to get to that point in my life and I’ve learned a lot. Here’s how you could make your home ownership dreams become a reality.
First time buying tips
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Explore first-time buying schemes
If you have never purchased a property before, there are government schemes out there that could help you, especially if you don’t have a huge deposit or a massive salary.
Some of these schemes include:
Lifetime Individual Savings Account (LISA)
Help to Buy: Equity Loan
Help to Buy: Mortgage Guarantee Scheme
Shared Ownership
Right To Buy.
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With Wealthy You, you can make your home ownership dream a reality by getting a first-time buyer’s mortgage with as little as 5% deposit, and you can access a wide range of products and services. On top of this, you can receive free legal consultation and direct access to real estate professionals in your area to assist you on your path to becoming a homeowner.
Attend property events
Attending property events is a great way to find out what’s on offer, understand the latest property trends and get advice. I attended the London Home Show last year and an open home viewing event last year, and I found these shows helpful because I was able to get an idea of what I’m looking for in my future home, as well as familiarising myself with available first-time buying options.
You can also explore property webinars so that you can attend events online, from home.
Use a mortgage broker
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It’s best to seek advice from an independent mortgage broker, because they can research a wide range of mortgages from different lenders and check out what’s on offer from the market. They’ll have plenty of knowledge on this and can recommend the best deal for you based on your circumstances.
Save (obviously!)
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This is the biggest part of the home ownership journey, but it can be really challenging. I’ve been finding it difficult to save at the moment because I relocated last year and like most people, I’ve been affected by the cost of living crisis.
No matter what, I am determined to save, so I’ve decided to start putting aside a set amount in an ISA every month. It will take hard work, cut backs and a lot of discipline, but I am willing to do whatever it takes to get to where I need to be in order to achieve my home ownership dream.
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