How first time buyers can bag a bargain this summer and be in their new home before December
Although we’re in the middle of summer, Zoopla data shows it can take anywhere from five to 14 weeks on average to move home.¹ So, for those hoping to get on to the property ladder this year, it’s time to think about getting the wheels in motion to make your move in time for Christmas. Stuart Elvidge, Sales and Marketing Director, Croudace Homes North Thames gives his five top tips for a swift move if you purchase a new home with Croudace Homes.
Speak to a financial adviser
This sounds obvious, but it really is crucial to speak to a financial adviser so you can fully understand the costs associated with buying your first home, alongside gaining an accurate picture of what you can afford to buy. With interest rates slowly climbing down, and a generally positive outlook from lenders, we are finding increasing numbers of buyers being surprised at what they can borrow. Plus, first time buyers pay no Stamp Duty on properties up to £300,000!
Widen your search
It can be easy to stick to familiar territory when deciding where to put down roots. My advice would be to embrace change and not be afraid of looking slightly outside of your usual radius, as you may find yourself surprised at the options available. For example, Welwyn village in Hertfordshire commands average house prices of £674,420. Yet if buyers head less than 1.5 miles up to road to our Weavers Gate development in Codicote, three bedroom homes start from £550,000.
Understand your true priorities
Categorise your wish list into “essential”, “nice to have” and “non-essential” to help gain a clearer understanding of what you do not want to compromise on. It may be that you want to be part of a growing community with amenities such as a school and community centre, like our Willowbrook Park development in Didcot, Oxfordshire, or you may prefer a quintessential village lifestyle, such as Bow Brickhill just outside Milton Keynes, where we have our development The Paddocks.
Choose between a house or apartment
This is perhaps one of the most difficult decisions a first time buyer will need to make, and it can be tricky to weigh up the pros and cons of both options. Apartments have been reimagined in recent years, with generous open-plan layouts, plenty of windows to allow natural light to flow, and quite often access to outdoor space in the form of a balcony or terrace – currently available at our Priory Grove development in Oxford.
Make sure you visit
Buying your first home will almost certainly be the most important – and expensive – decision in your life to date. It’s incredibly important that you visit potential developments, explore the local areas and get a genuine feel for where you could potentially put down roots. Take your time to explore and feel comfortable.
Croudace Homes North Thames has a number of developments available across Oxfordshire, Buckinghamshire and Hertfordshire. To find out more, visit croudacehomes.co.uk
1 zoopla.co.uk/discover/selling/how-long-does-it-take-to-move-house/
Priory Grove, Oxford, Oxfordshire:
Newly launched one and two bedroom apartments start from £395,000, while three and four bedroom homes start from £625,000.
croudacehomes.co.uk/new-homes/oxfordshire/priory-grove
Willowbrook Park, Didcot, Oxfordshire:
A thriving community of one to five bedroom homes, with current prices starting from £259,950 for a two bedroom apartment, £420,000 for a three bedroom house and £475,000 for a four bedroom house.
croudacehomes.co.uk/new-homes/oxfordshire/willowbrook-park
The Paddocks, Bow Brickhill, Buckinghamshire:
Three and four bedroom homes, with prices starting from £499,950.
croudacehomes.co.uk/new-homes/buckinghamshire/the-paddocks
Croft Gardens, Knebworth, Hertfordshire:
Final three bedroom homes remaining, with prices starting from £465,000.
croudacehomes.co.uk/new-homes/hertfordshire/croft-gardens
Weavers Gate, Codicote, Hertfordshire:
Recently launched two, three, four and five bedroom homes, with prices starting from £550,000 for a three bedroom home.
croudacehomes.co.uk/new-homes/hertfordshire/weavers-gate
First Time Buyer is an exciting bi-monthly glossy which takes a stylish and comprehensive look at all the options available, setting them out in an entertaining and informative way, and helping potential customers navigate their way through what is often a daunting and complex process. We dispel the myths, reinforce the facts and arm the reader with the tools necessary to make their homeownership dreams a reality.
