Guest Blog: First Time Buyer Magazine

We talk to Lynda Clark, editor of First Time Buyer Magazine and organiser of the Manchester First Time Buyer Home Show, a one-off and free event designed to help aspiring homebuyers on to the property ladder this weekend. She tells us why she believes that homeownership is so important and why first time buyers should come along to the helpful event to find out about how to buy their first dream home.

Buying a property is probably the first and most expensive purchase that any young adult will make. There’s no doubt that the whole idea could appear to be a daunting one and sometimes it might seem like a very unachievable task, especially if there is no helpful Bank of Mum and Dad in the background ready to lend a helping hand with a deposit.

One thing that I have come to terms with in my years of supporting homeownership is that there are now many ways to find easier ways on to the property ladder. And, despite what the headlines often report, there are actually many more options available now for first time buyers looking to own their own four walls.  Here are some of my top tips to help inspire first time buyers to bite the bullet and find their own way on to the property ladder.

  1. Get your finances in order – to be able to find out all the options available to you, you will need to know what you have to work with financially. This includes looking at your incomings and outgoings and using this as an opportunity to tidy up your life. Do you really use that gym membership? One thing for sure is that every penny counts when you’re buying property and a few changes here or there could go a long way to helping secure the right mortgage.
  2. Speak to as many people as you can. Come along to events like the First Time Buyer Home Show and gain as much free advice as possible – it’s there for the taking. There are many new and successful ways to buy a first home and the more options you discover, the better chances you will have of finding your perfect home.
  3. Get Help to Buy – there is so much support out there and you may wish to consider one of the many purchasing schemes available. Schemes like Help to Buy or Shared Ownership make the whole process much more affordable and will allow you to buy some or all of your home with a deposit as little as 5%.
  4. Be realistic – so we all know that we would ideally like to buy a mansion with a swimming pool. The reality is that everyone has to start somewhere and by taking sensible steps now, buying that one bedroom apartment will ultimately be a great foundation, allowing you to start investing in your future.
  5. Move quickly – the market is always changing and interest rates are still low, meaning mortgages are still affordable. Find out what you can afford now and know that the sooner you make homeownership a reality the sooner you can take those first steps up the property ladder.

You can meet Lynda Clark at the First Time Buyer Home Show on Saturday 7th October which is held at the Lancashire County Cricket Club. To register and find out more visit www.ftbhomeshow.com