First Time Buyer Advice

publication date: Dec 22, 2010
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

First Time Buyer Advice

First time buyer’s need a lot of help and advice to buy a home. This usually starts with ‘how much can I as a first time buyer afford?’ and ends with ‘I don’t understand why nothing seems to be happening, please help!’

It is important to get up to date independent and expert advice. Your parents or mates may have bought a home, but this doesn’t make them experts! Understanding how to research the property market, how to and how much to save for a deposit and how to get the best deal on a mortgage.

Many people for example will give first time buyers the advice that they can’t afford the deposit or don’t have a chance of getting a mortgage, or indeed afford a home of their own. This is rubbish! The only places where it’s difficult to afford a property – and this isn’t just for first time buyers – is London and very expensive areas across the UK. Did you know for example you can buy a property just 45 minutes from Kings Cross for around £100,000? It’s in a great up and coming area and is a fab place to live. Email if you are keen to know where this is!

If you do live in an area that is unaffordable, why not look at buying a property and renting it out in an area that is affordable? This type of first time buyer advice is invaluable, but rarely given! Buying somewhere else may mean the prices go up and allow you to eventually save enough for a deposit near where you want to live and can even help bring in extra cash if your buy to let makes money that you can save towards a deposit.

There are lots of people and websites offering first time buyer advice, before you take any notice, check whether:-

  1. They are independent, or would benefit lots from you buying your first home!
  2. How up to date their details are. For example, does their Stamp Duty information explain that first time buyers are exempt up until March 2012 for properties under £250,000?
  3. How do they earn their money? From advice or earning lots of commission?


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Get a helping hand with our new First Time Buyer Service for just £19.99!

Property expert, Kate Faulkner, has joined forces with B&Q and other industry experts to offer a unique service, where you purchase a ‘property project pack’ that gives you:-

  • An A4 ‘how to’ guide (approx 80 pages), containing Dos and Don’ts, Factsheets, Checklists, Handy Tips and Forms
  • Access to Kate and her team, by phone and email, for any queries you might have during your project.

See the full list of Kate Faulkner's unique Property Services here!

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