Tips for first-time buyers

Buying a house can be a stressful experience, especially if you’re a first-time buyer. From mortgages to monthly repayments there’s a lot to get your head around. First Step have compiled a few things you can do that will make your life a whole lot easier when buying a house.

Buying your first house

Save as big a deposit as you can.

Once you’ve decided that buying a house makes more sense financially than renting a property, you need to make sure you save for a deposit. The bigger your deposit the better mortgage rates you will be offered and the lower your monthly payments will be. To obtain a mortgage you typically need to save a minimum of 5% to 25% of the overall cost of the property, sometimes the best available deals are eligible to deposits that are at least 25%.

Explore government buyer schemes.

The government offer several home ownership schemes, which vary between England, Northern Ireland, Scotland and Wales. Before making any decision it’s worth finding out if you are eligible for any of the schemes, especially if you are only able to save a small deposit. The Help to Buy scheme, for example, offers first-time home buyers the opportunity to buy a home with a deposit of just 5%. If you can secure 80% of the value of the property through your mortgage and deposit, the government will provide a loan for the remainder. Speak to us as we offer a wide variety of properties nationwide for Shared Ownership

Find the perfect property for you.

Buying a house is likely to be the biggest purchase you’ll ever have made, so it isn’t a decision that should be taken lightly. First Step offer an in-depth range of properties for sale in Hertfordshire, Bedfordshire, Cambridgeshire and the surrounding areas. Each property features comprehensive descriptions on Rightmove and our knowledgeable agents will provide you with all the information you could ever need during viewings.

Estate Agents

First Step are so much more than a normal traditional estate agent and we can save you £1000’s in high street estate agency fees. Our experienced team of local property specialists who provide a professional, expert service that best suits your needs are here to help.

If you’re a first-time buyer with any questions or concerns, please get in touch with our specialists today who can help and answer any questions you may have.