Whatever stage you may be at with your house buying journey, the process can be a complicated affair and requires a lot of consideration. The housing market is booming in 2022 and there are plenty of ways you can take advantage of this as a first time buyer. With plenty of new schemes and ways to buy a home, the housing market is becoming increasingly more flexible and open to first time buyers. From shared ownership to help to buy, you can get yourself on the property without worrying about finances or saving up for a deposit. So here are a few top tips to take advantage of the housing opportunities in 2022.
A great way to buy a home in 2022 is through shared ownership. With the opportunity to part buy, prt rent your home, you can spread the cost and take your time when it comes to your finances. Shared ownership essentially allows you to buy shares in your property rather than the whole thing so you only have to put a deposit down on the share you want to purchase. You will also only need to get a mortgage for this share which can be a lot easier than finding a mortgage for 90% of the value of the property. Shared ownership also means you can buy more shares of your home overtime essentially meaning you can move up the property ladder and increase your assets without moving anywhere. The scheme is government backed and offers flexibility and an easier way to get onto the property ladder. And with almost all these homes being new builds, you can enjoy a touch of luxury at a price that’s just as easy.
Help to Buy
Another way in which you can get yourself on the property ladder is through help to buy. This scheme is by far the most popular and with a range of city apartments as well as 5 bedroom family homes available, there’s a lot to love about help to buy. This scheme means you only have to put down a 5% deposit on the property and then you will also receive a 20% equity loan from the government. This loan carries zero interest for the first 5 years and means you have plenty of time to sort your finances before paying it back. Help to buy also offers a 40% equity loan in London meaning you will only have to find a mortgage for 55% of the purchase price. This is great news for first time buyers looking to get on the property ladder in London without having to pay monumental prices for a minimal flat or apartment. In fact, there are plenty of homes from houses for sale in West London to apartments for sale in Maidstone.
Another great way to get on the property market is through commuter towns. Commuter towns are great as they are built around the busy lives of young professionals and offer plenty of amenities to suit their lifestyle. With green space being a vital part and plenty of sports centres, you’re guaranteed a healthy and balanced lifestyle. And with a plethora of bars, restaurants and cafes, you can eat out to your heart’s content. Commuter towns also offer a range of housing schemes with shared ownership homes in Surbiton providing quick trains to the city and idyllic suburban life. With plenty of regeneration schemes all over these areas you can enjoy great quality of living and plenty of new enterprises as well as job opportunities.
With plenty of ways to get on the property ladder, buying a home in 2022 needn’t be difficult. Whether you’re looking to buy this year or simply planning ahead you can get something that suits your lifestyle as well as your budget.
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