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Published on : March 1, 2019 13:51


What are the advantages of being a first-time buyer?

Getting on the property ladder can be a very daunting process, a lot of the time due to stepping into unfamiliar territory.

It is likely you’ll be putting in an offer slightly lower than those who are current homeowners, but there are multiple reasons why you would be a favoured candidate as a first-time buyer.

Here are some of the greatest benefits of being a first-time buyer

Financial benefits 

You are in a great position in terms of finance with a number of different options for funding including help to buy which is available to all first-time buyers.

There are a few different help-to-buy schemes available. The equity loans make it possible to buy a home with just a 5% deposit, whilst the shared ownership deposits are typically much lower. Find out more here.

Preferred buyer 

As a first-time buyer, you have a huge advantage over homeowners. Why is this? You do not have a chain. This means if you put an offer in on a house you may be deemed as more reliable than a current homeowner.

This is because they will rely on another person buying their property before they can make the move. You being a first-time buyer is in both your favour and the favour of the seller, especially if they are after a speedy sale!

Move from family home

Owning a home is a long-term dream for many. If you are in a position to buy a property, which is a lot easier now with all the funding you can receive, why not take full advantage of this?

Buying your own pad will mean complete freedom! No more being told to tidy your room or wash the dishes. You can do it all in your own time.

Similarly, if you are currently living in renting accommodation, you would no longer need to abide by your landlords’ rules, for example, a lot of rentals has a no pet policy.

No more wasted rent

Buying your own properties means investing in equity rather than it going to your landlords’ pocket. Your monthly payments will solely be going towards paying off your mortgage, rather than it being wasted.

It is a long-term investment offering so many benefits, like potentially having a nice profit if you decide to move on from your first home.

no wasted rent

Freedom to finally make that perfect family home a reality 

The property will be completely yours, so you can make whatever changes you want to (within reason). It will give you the freedom to show off your interior design skills and make all your home dreams a reality.

From redecorating throughout to landscaping the garden. It also means you can have your dream pet (again, within reason!).

Rent free 

Your older self will really appreciate you getting onto the property ladder, as it will mean you will be able to enjoy rent-free living when your mortgage is paid.

This can be a lot sooner than you may think depending on which mortgage you decide to go for. If you decide against buying property, it will result in renting for the rest of your days.

If you are looking to get onto the property ladder, have a chat with one of our friendly mortgage-advisors and they can help get you started. Click here to find out more, or alternatively call us on 0161 443 4555

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