Buying your first home can be a little daunting but with a few tricks up your sleeve you could get exactly what you’re looking for. 2022 is a great time to buy your first home and whether you’re looking for a big family property or just a small studio apartment in the city, getting on the property ladder is a whole lot easier when you know all the tips and tricks.

Shared ownership

One of the best ways to get on the property ladder is to use shared ownership. Contrary to what you may think, shared ownership doesn’t involve sharing your home with anyone and is instead about buying shares in your home rather than the entire property all at once. You can buy between 25% and 75% of a home and rent the rest through a housing association. As housing associations are often non-profit, the rent you pay on the portion you don’t own will be incredibly small compared to that of a private landlord in the same area. You can buy a shared ownership home in Berkshire to a shared ownership apartment in Brighton while only paying a deposit on the share you want to own. Shared ownership homes in London are also very popular with the scheme allowing first time buyers to get on the property ladder in the capital without compromising on their needs.

Help to buy

Another great way to buy your first home is through Help to Buy. A government scheme that is now hugely popular across the UK, help to buy allows first time buyers to put down a 5% deposit and obtain a 20% equity loan from the government. This loan takes pressure off your finances, cutting down your mortgage to 75% of the value of the home. It also carried 0% interest for the first 5 years so you won’t have to worry about it until you’re comfortably organising your payments. This loan is increased to 40% if you want to buy a property in London so the mortgage will equal just 55% of the home. Help to buy is a great way to get your foot on the property ladder without those hefty initial payments and is available widely across the UK.

London Boroughs

If buying a home in the capital is your ultimate dream for 2022 then you may want to check out the up and coming development in London boroughs set to be finished in the coming year. With many London boroughs now becoming haven for young professionals and busy individuals, shared ownership homes in Ebbsfleet and Dartford are a great example of convenient and comfortable living close by to the city. These areas are affordable, packed with green space and offer both help to buy and shared ownership on a variety of different homes. While shared ownership homes in Croydon offer some great connections as well as a new town centre and some fabulous restaurants, you also have shared ownership homes in West London delivering on the swankier side to life with rooftop cocktail bars and a glistening business district.h

Whatever you may be looking for in your first home, do your research and you could save yourself some time and money. So make 2022 your year and get yourself on the property ladder and in your dream home.