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Advice for first time home buyer

So am 29 and want to move out of parents house and need my own home and doing research and best option is these new built homes like Taylor wimped, Barrat, Cala homes etc

As to financially viable what should I do first

Apply for help to buy or he,p to buy ISA or help to buy mortgages etc

Or should do house visit and see the property first also are new built hones better as to oppose to houses for sale like u see on rettie or real estates etc

Any advice

Comments

  • ArbitraryRandom
    ArbitraryRandom Posts: 2,718 Forumite
    Sixth Anniversary 1,000 Posts Homepage Hero Name Dropper
    edited 3 March 2019 pm31 6:31PM
    First you need a deposit.

    A help to buy ISA or Lifetime ISA can help with this.

    If you have a lump sum to pay in now, you can open a H2B ISA or LIA before the end of March and get the bonus this financial year. That means you can get the full bonus on any saving next year.

    While you're saving for your deposit, you can start to look at houses and areas. That will give you an idea how much you need to save to have at least 5% and will let you compare properties to see what's best for you.

    At the same time, if you have a look at the mse mortgage best buy calculator, it will help you see what your likely monthly payments are like (first month is higher) and you can read the first time buyers guide.

    This will help you think about saving enough to cover the fees and moving costs, plus be ready for your first few months of independent living.

    Once you have enough for your 5%+ deposit, plus the fees, plus the moving costs, plus living costs for a few months... then you can apply for a 'mortgage in principle' (help to buy or otherwise) and make an offer on somewhere you like.
    I'm not an early bird or a night owl; I’m some form of permanently exhausted pigeon.
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