FTBs warned not to view home purely as an investment

09-Feb-2010

First-time buyers (FTBs) have been offered top tips regarding getting their foot on the first rung of the property ladder by an industry expert, courtesy of Unbiased.co.uk.

One important factor to consider is that there is no guarantee house prices will rise after a purchase, so making sure a home is suitable to be lived in for a number of years rather than a short-term investment is key, according to James Carter or Independent James.

"Taking all the financial aspects into consideration is vital, but as a FTB you should also ensure the property you are buying is a suitable home for you to live in," he says.

Decorating or making home improvements can increase value and make it easier to profit from selling a first home, but the legacy of the recession should be the reminder that those who are happy in their homes were affected the least by the period of economic decline, he suggests.

Securing a mortgage as a FTB is the most stressful experience in life, according to recent research by the price comparison site showed, so moving on again quickly is not necessarily a wise choice.

How to buy a house from finding your first property, first time buyer mortgages, mortgage advice, shared equity, shared ownership, joint ownership, part buy part rent and HomeBuy. All a first time buyer could need as well as first time buyer news at FirstRungNow.com.

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