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Why 2021 is the best time to buy your first home

If you’ve been thinking about buying your first home after maybe spending a little too much time trapped within the 4 walls of mum and dad’s during a pandemic, you’ll be glad to know 2021 is very promising for first-time buyers out there. You may have to research a bit before you decide on whether you want to build your home or just buy a new one. That said, if you’re looking to buy one, you may start your search by looking at Rotelle homes on the internet to get an idea on how to design your ideal home.

With big changes across the market and government schemes to help first-time buyers get on the property ladder in 2021 you couldn’t have picked a better time. But you’ll have to be quick as some of these offers aren’t around forever and you want to make sure you get the best deal. Depending on the situation, buyers might also need the assistance of professional real-estate agents (check this source to find a suitable agent) who can be with them throughout the process and simplify it for them. Additionally, people can make a list of features they expect from the shop and consult it with a real estate agent. By following the listed items, an agent can help you find your dream house as well as provide you with information on the closing amount, total expenses, legal work, etc. You can check out or similar websites for housing options and to consult a relator.

Stamp Duty Holiday

If you haven’t already heard, Stamp Duty is a tax you pay on the land of your house. Like income tax you pay it over a certain threshold but for the first time the government has announced a holiday on stamp duty. This means you won’t have to pay anything in terms of stamp duty on your property up to a value of 500,000 which could save you up to 15,000. After the deposits and the service charge, stamp duty can be a hefty set back so taking advantage of this holiday is a must. This holiday runs until the end of June and is applied to help to buy and shared ownership homes too, so don’t miss out and get your plans in action before June 31st.

Shared Ownership

These homes are reshaping the property market across the country but especially the cosmopolis of the UK’s capital. Shared Ownership allows you to part buy a home and rent the rest at a low monthly cost. This can often be cheaper than just renting from a private landlord or monthly mortgage payments alone. These homes are also all new developments so you can be sure to have the most high spec of interiors and plenty of modern and decorative features. From Manchester to London, these homes are increasingly popular and with the option to buy more of your property overtime you can move up the property ladder without actually moving anywhere. Shared Ownership is a great way to buy your home if you want to put down a smaller deposit and take out a smaller mortgage and with property sites like offering a whole range of properties from shared ownership London to Manchester, there’s certainly plenty of choice.

Help to Buy

Just like what it says on the tin, Help to Buy is a great way to get on the property ladder for first time buyers. With a 5% deposit and 20% equity loan help to buy takes the pressure off house buying and cuts down those initial payments. In 2021 Help to Buy has seen a few changes including the price cap becoming regional. This means if you’re living in London help to Buy applies to homes up to properties of a value of 400,000, whereas in places like greater Manchester the caps look a little more 225,000. The scheme is well worth looking at especially if you’re thinking about living in London as the equity loan increases to 40% in this region. The loan also comes with no interest for 5 years and is a great option to take the process at a pace that suits you without the stress. And from Croydon to Liverpool, there’s something to suit everyone.

So wherever you’re thinking of buying your first home, take advantage of the offers out there for first time buyers that 2021 has for the taking and save yourself some money!