Tips for First-Time Buyers in London

Posted on January 16, 2019 by Safe Removals
Tips for First-Time Buyers in London

We all have goals and aspirations in our lives, and one for most people is to become a homeowner. It’s not the easiest thing for a Londoner to achieve though and it’s an ambition that will take a lot of planning, grit and determination to pull off. However, the climate for becoming a first-time homeowner is moving in a positive direction. That’s excellent news for anyone who wants to get onto the property ladder and is caught in a perpetual state of renting.

The property market in London isn’t only tricky for first timers – everyone could do with some advice from time to time. That’s why the Safe Removalsteam try to pass on useful information to our customers and followers whenever we can. For us, it’s all part of how our business operates. The more people we can assist now will give us the opportunity to relocate them later. And on that note – this is some of our tips for first-time buyers in London with some related information.

Advice for First-Time Buyers in London –

There is no getting around this first action point; you’ll need to start managing your money and record everything you spend. You can start today by opening an Excel document, and you need to save all your receipts. Put all the information from your receipts into your Excel once a week, and by the end of the month, you should see what your spending patterns are. Then it’s time for some tough questions on where you can make savings.

You will have to create a monthly budget, which includes your expenses and some money for things like the gym and funds for the weekend. Anything that’s leftover should go into a savings account, so go and open one now. If possible, set yourself some monthly savings goals. Check online to see if there are examples of typical mortgage deposits and any information that relates to saving.

Now that you’ll be on your way to saving for a deposit, your next line of research is first-time buyers’ schemes. The government are making it easier for first-time buyers and low-income households to get onto the property ladder. You’ll need to work out what sort of scheme fits your situation. Some examples are Help to Buy, Shared Ownership, and Start Home Scheme but there are many more.

There are also other avenues to explore when trying to find affordable ways to get your first home. Housing auctions in London are an excellent way to get properties well below the typical market price. This path to home ownership is not without its issues though. It’s not as easy to see if there are any issues when buying via an auction, so there is a lot of risks if you go this route.

Property development is an option which would allow you to buy a house or apartment that needs renovation for a more affordable price. You’ll have to be willing to project manage the whole restoration, in addition to whatever your current employment entails. Think carefully about this option though as it’s not for everyone. However, you might be able to revamp and run-down building and mould it into the complete vision of your dream home.

Tips for First-Time Buyers in London

It’s vital that you do as much research as possible when looking to invest in a house or apartment. You may have a few areas you like, so you need to separate each one and find out as much information per location as possible. Find out everything you can about things like average house prices per area. What sort of amenities and facilities is close by? You’ll eventually find one or two areas that tick all your boxes. Another tip is to use the Zoopla app to compare house prices.

Create a list of everything you’re looking for in a home. That includes what type of property, how many rooms and bathrooms, as well as things like a garden, garage and parking requirements. You’ll eventually have to compromise on some aspects, but you need to be as specific as possible at this stage. The more information you provide, the easier it will be to match it with potential houses or apartments.

Make sure you contact an estate agent as early as possible to help you search for your home. Not only will they be able to filter searches for homes that might suit you, but they also have a lot of knowledge and experience. You can share your wish list and budget with them and leave them to compile suitable places to view. And just as importantly, they’ll help you avoid undertaking any viewings for unsuitable properties.

If you find the ideal property, don’t miss out on it for the sake of moving dates. Even if you must wait a few months, it’s better to use storageto make sure you secure the house or apartment that fits your criteria. Buying your first home is not easy, and negotiations can be tricky. As long as you feel that the property is right for you, keep going with the talks and rent a self storage unit from Safe Removals.

Safe Removals – London’s Favourite Removals Company –

It’s everyone’s ambition to become a homeowner, and it might be easier to realise this goal outside of London, so it’s worth considering commuter towns. The lower cost of living in a commuter town would help them reduce their monthly outgoings.

The Safe Removals teamprovides a service that we’d like to receive. We put ourselves in our customer’s shoes when we create our removals and storage packages and deals. No matter how big or small the job, we always put the same effort and commitment to every job. That’s why we’re the right choice to move you into your first home when you’re ready.

Safe Removalsis widely known for being the number one company removals and storage for business in London. That’s because our customers can rely on us. They know that we have the right equipment and crew to take on any job. Additionally, we’re always available to discuss anything related to removals and storage which includes buying your first home.

If you’re planning on buying your first home in London, you should contact ustoday. We have the right removals service for you and can provide you with excellent tips on getting your first home.