Affording a Home
Affording your first home can be a challenge for many of us.
From saving enough for that initial deposit to handling legal fees and insurance, the financial implications of buying a property for the first time can be daunting.
However, if you have the right knowledge and advice behind you, saving money and handling house buying costs can be much easier on your wallet and your mind.
We’ve compiled this extensive database of knowledge related to affording to buy a property, covering everything from better ways of saving money all the way to explaining all the extra fees that rear their heads during the process.
Saving Money For a Property
When looking to purchase a house, the first hurdle is often the most difficult for a lot of people.
Scraping together enough money for a decent mortgage deposit is rarely easy, especially if you’re paying rent each month.
Many prospective house buyers take a long time to get past this first hurdle, simply because their money saving methods are not as effective as they could be.
The following articles will give you an insight on the best ways of saving money, even if you’re paying rent each month.
Budgeting & Saving Tips
How To Save Money for a Mortgage Deposit
Saving Money Whilst Renting
Will I Be Able To Get a Mortgage?
Costs of Purchasing a Property
The costs of actually buying a house are without a doubt the most daunting aspect of home ownership.
Making sure you can afford your mortgage is a worry for many homeowners due to countless factors.
This section will provide insight on how to choose a property that you can comfortably afford, along with explaining all the costs that come with purchasing a property for the first time, many of which often go overlooked by potential house buyers.
Exploring The Additional Costs
Many of these extra costs of buying a property come as a surprise to those new to the property ladder, such as stamp duty, contents insurance, surveys and mortgage administration fees.
These articles will cover these aspects in more detail, with the goal of fully informing you on all the potential costs that come with purchasing a property, and give you a better idea on what is feasible for you.
What Are The Current Stamp Duty Rates?
Stamp Duty Explained
What is Building & Contents Insurance?
What Fees are Involved in Buying a House?
Finding an Affordable Property
Buying a home is an exciting process, despite the challenges.
Many first time buyers get disheartened when they check a site like Rightmove or Zoopla and see houses for sale for far above their price range.
Finding a property that is right for you (that both falls within your budget and provides everything you need) can be quite difficult, but if you know how to effectively search for affordable properties, you can grab yourself a bargain.
These articles cover the best methods of searching for an affordable property in your desired area.