Things are finally looking up for first-time buyers. Thanks to schemes like the Lifetime ISA and ‘family boost’ mortgages, first-time buyers can now start looking to get on the property ladder and get out of the renting rut. Buying a new build home can be a great option for a first-time buyer, helping you benefit from schemes like Help to Buy as well as starting with a blank canvas to put your own stamp on. Thinking of buying your first house? Here are the benefits of buying a new build as a first-time buyer.
There’s a lot of help available
First-time buyers can benefit from several initiatives at the moment. There’s the Lifetime ISA (and the Help To Buy ISA if you signed up for that), as well as first-time buyer mortgages, family boost mortgages and more. But in addition to all of these great incentives, is the Help to Buy loan from the government. Help to Buy allows you to buy a new build property with just a 5% deposit, with the government loaning you the extra 20% to give you a combined total of a 25% mortgage. This scheme can help you buy a larger property than previously possible, which is ideal if you’re buying your first home at a later date than expected. Find out more about the options and help available to first-time buyers.
There are some amazing properties available
New build developments are popping up all over the country, allowing you to own a new home in a great location. Just look at these in Olde Bulltown Village for example- a stunning development with custom homes available! While many people think that new builds are small, the truth is that they come in all shapes and sizes, usually with great layouts that make the most of the available space. If you want to get on the property ladder with a new home, you’ll be making a great decision. With the chance to view show homes and see the progress of your home being built, it will feel like a much more personal experience as you move into your first home.
New builds are a blank canvas
Moving into a new build gives you a blank canvas to work with. The great thing about them is that you can move in straight away, and if you didn’t want to, you wouldn’t need to change a thing to make it habitable. It’s easy to transform your bedroom into a sleep oasis or add some colour to your living room, without having to make some significant and expensive renovations. With a lot of your appliances already in place, and with long guarantees, you will get the time to settle into your home and not worry about any major work for a while.
If you’re looking at your options for buying your first home, don’t rule out a new build. With no chains, plenty of benefits and a home that’s yours from the very beginning, a new build home could be a fantastic way to start your future.
