What Houses are a Good Investment for First Time Buyers?

Buying your first house is a huge milestone in adult life, where this can bring with it a feeling of security and financial achievement. Whether you’re buying a home with your partner, your dependents, or individually, taking the first step on the property ladder is an exciting moment in anyone’s life.

When it comes to choosing your ideal starter home, there are lots of options you can choose from. What you decide on will be guided by your budget and how much work you’re willing to do on the house, where it is important to do your research before you commit to a specific property type.

Read on to find out more about what kind of houses are particularly suitable for first time buyers.

Apartments & Flats

If you’re thinking of putting a deposit down on a property for the first time, then you may not have the funds or the need for a large multi-storey house. For many, a self-contained apartment will be a suitable and affordable option, where these properties tend to grow in value over time, particularly in sought after areas.

Fixer-Uppers

For those on the lookout for a house with more space, then it may be worth considering a fixer-upper project, particularly if you’re handy or you have building experience. This is a great way to get hold of a large home at a more manageable price point, where high quality renovations will also increase the property’s value.

New Builds

New build housing is another popular option for first time buyers, where these properties are sometimes marketed directly towards new homeowners. These houses are usually fitted with modern appliances and energy efficient features, meaning buyers can move in without having to undertake widespread renovations.

Bungalows

Some first time buyers may choose to invest in a bungalow or a smaller property that comes with a large plot of land. Lots of single storey houses come with planning permission for expansion, where this means you can create the space you need at a smaller upfront cost. Any additions you make will naturally increase the value of your property if you do choose to sell.

Andrew Lee Property Lawyers: Housing Solicitors You Can Trust

Our expert conveyancing lawyers are on-hand to assist first time buyers throughout the entire financial and legal process, helping to ensure that you feel supported. 

Get in touch with us today to find out more about our property conveyancing services for new homeowners.