As demand for property increases, home buyers become more competitive and want to know what may give them the edge when buying a house.
The spring housing market is heating up and activity has been growing. Despite recent stamp duty increases for buy-to-let investors dampening some interest in the property market, the truth of the matter is that demand still massively outstrips supply.
The average price of a home in the UK has now hit £307,000 which is an all time high, with London’s average price now being above £600,000 for the very first time in history.
An interesting report from HSBC shows that it now takes a home buyer just 26 hours to decide to make an offer on a house purchase…on average, we spend more time deciding where to go on holiday.
So…here’s our advice for perspective house buyers, and in particular, first time buyers.
There are still bargains to be sought, and at Inspired, this is the area we focus on. We spend our time building extremely high-spec apartments in up-and-coming areas in London, such as Croydon, Sutton and Epsom. Despite their brilliant locations and extensive facilities, our homes start at just £183,950. In addition, we have help to buy in place which means that you could secure your very first London home with just a 5% deposit.
People always tend to shy away from their finances, however, when buying a property you will be asked for pay slips, bank statements and tax returns for your mortgage. Our advice is to be on top of all of this and be ready to go when you find the perfect property…overall, by buying a home, you are going to save an awful lot of money in comparison to renting so preparation is key.
To find out more about help to buy or arranging a viewing, please contact the team on 020 8688 6552.