Buying your first home can be tough for many people but it’s important to keep in mind there are many different ways to buy your first home from shared ownership to money saving ISAs. With plenty of schemes out there to get young people and first time buyers on the property ladder, making your first move is no longer as difficult as you may have thought so do your research and you may find yourself joining the homeowners club a lot sooner than you anticipated.

Help to Buy

This scheme involves putting down a 5% deposit and receiving a 20% equity loan on the property from the government. It’s a great idea if you want to own the entire property straight away but want to avoid those heft initial costs that come with securing a home. With just a 5% deposit and many of their homes being new builds up and down the country, help to buy means you won’t have to compromise on size, space or location for the sake of saving time and money. The 20% equity loan is particularly helpful if you don’t want a huge mortgage right away. The loan carries 0% interest for the first 5 years and takes the pressure off your finances through those initial stages. With a mortgage of just 75% of the home help to buy is a great place to start your search. With properties for sale in Maidstone for those that enjoy a slower pace of life to houses for sale in Tower Hamlets that put you at the centre of London living, there is something for everyone. And what’s more is you can get on the property ladder in London with a 40% equity loan from the government under the same terms with availability on a variety of different homes.

Shared Ownership

Another way to get on the property ladder is through shared ownership. Shared ownership involves buying a share in the property rather than the entire property all in one go. You can increase your shares in your home overtime according to your plans and financial circumstances. Shared ownership means you only put down a deposit on your share so for a 25% share you only put down 5% of this value. This saves you a lot of money on those initial payments and can help you get on the property ladder a lot sooner especially if you’re looking to live in London. With shared ownership homes in West London you can even bag yourself a share in a sleek city apartment with all the trimmings while paying minimal upfront costs. The remaining portion that you don’t own belongs to a housing association so a small rent is paid on this. With shared ownership apartments available in Croydon and houses for sale in Kent, there are plenty of homes under this scheme that deliver on  just about everything.

Garden Cities

Another great way to get on the property ladder as a first time buyer is to look at Garden Cities. An urban movement that ensures its residents have everything they need in terms of amenities and connectedness while being surrounded by greenbelt, parks and gardens. Shared ownership homes in Ebbsfleet offer exactly this style of living with all the savings that come with shared ownership and with London being well within reach, garden cities are a great place to look especially if you’re a young professional looking to get on the property ladder.