When it comes to buying new, it can be a massive step if you are a first time buyer.
But according to the latest research, first time buyers in the UK are £742 a year better off than those who rent.
The figures from the Halifax are based on the average monthly buying cost (including mortgage payments) for a FTB purchasing a three-bedroom property at £6,582 (December 2014).
This is some £62 lower than the typical monthly rent - £7,203 – paid on the same property.
The latest information – coupled with recent research suggesting a seven-year high in the number of first time buyers – puts those looking to step into the housing ladder firmly in the driving seat.
And there are plenty of opportunities offered by developers like Linden Homes Midlands – who are able to help first time buyers achieve the goal of a new dream home, and curb the cost of moving.
Linden Homes Midlands’ sales manager Bev Bray said: “This latest report on first time buyer activity does make interesting and encouraging reading.
“We have long been saying that investing in bricks and mortar is more financially viable than renting – although we do understand the reasons for opting to live in rented accommodation in some cases.
“However, if the end result clearly demonstrates that buying over renting saves money, then this has to be the best option for the customer.”
And being able to offer the Help to Buy scheme means that Linden Homes can continue to meet the growing needs, and ease the financial burden, of those looking to step onto the housing ladder.
With a portfolio of properties, there is something for every budget, taste and living requirement at Linden Homes’ range of developments.
And with the scheme available at many existing and coming soon developments around Bedfordshire, Cambridgeshire, Northamptonshire, Leicestershire and Lincolnshire, now is the perfect time to think about moving with assistance from Help to Buy.
Here’s how it works:
First time buyers Joe and Rebecca Moyes recently moved into their brand new three-bedroom semi detached home, after living in rented accommodation and then with parents, in their efforts to save for a deposit.
The couple had their hearts set on a new build property, and with the Help to Buy scheme meaning they only had to find a five per cent deposit to secure their dream home, they were able to reserve with Linden Homes.
Joe and Rebecca say that Help to Buy has enabled them to buy a property big enough for them to raise a family in.
Rebecca said: “We probably would have looked at buying a flat without the scheme, which would have been a much shorter term prospect for us. Now we feel set up, comfortably, for the future.”
For further press information please contact Cetti Long at Media Matters on 01733 371363 or email firstname.lastname@example.org
All images are used for illustrative purposes only and are representative only. They may not be the same as the actual home you purchase and the specification may differ. Images may be of a slightly different model of home and may include optional upgrades and extras which involve additional cost. Individual features such as windows, brick, carpets, paint and other material colours may vary and also the specification of fittings may vary. Any furnishings and furniture are not included in any sale. Please check with our sales consultants for details of the exact specifications available at the development(s) for each type of home and the associated prices.