How to Get on the Property Ladder Solo

February: it’s all about Valentine’s Day. But did you know that on the 15^th, the world celebrates Singles Day? From having the whole bed to yourself, to never having to compromise on dinner choices, there are plenty of benefits to single life – but it can make buying a property more difficult. In fact, research has shown that it takes the average single income house hunter an incredible 13 years to save for a 15% deposit!

If you’re looking to buy a property on your own, read on for our top tips…

1. Understand changes to taxation: All homes under £300,000 will now not have to pay any Stamp Duty. For those looking to cut back on the costs of buying their first home on their own, significant savings can be made by looking at homes under £300,000.

You can find all of our current properties priced under £300,000 here.

2. Take advantage of financial schemes: Government schemes such as Help to Buy provide financial assistance to those looking to buy a new home. The scheme allows house hunters to save just a 5% deposit to secure a Government loan of up to 20% of the cost of a newly built home.

If you’re interested in taking advantage of Help to Buy, why not take a look at our new build properties such as these plots in Crewe, Whitchurch and Tarporley?

3. Shop around: Make sure you shop around for the best mortgage deals. Speaking to a mortgage advisor, as they will be able to look at your finances as a whole and advise the best providers to approach. If new house hunters are unsure where to start, new home builders such as Miller are able to share their trusted contacts to help.

If you need help finding a financial advisor, give your local branch a call – our experienced teams have plenty of trusted contacts.

4. Budget, budget and budget some more: There’s no doubt about it, even with schemes, being price savvy and getting the best mortgage deal – buying a house means cutting back and putting away some savings. There are loads of small lifestyle changes you can make to start saving: try making your own lunch instead of buying it from a café when you’re at the office, buy your non-perishable essentials in bulk and try working out from home rather than expensive gym memberships.

There are even smaller money saving changes you could make which help the environment too – check out our blog brimming with energy saving tips.

If you’re looking to move to a new home with a single income, do not hesitate to get in touch and let us help you find your dream home.

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