Many of us aim to own our own home. But with buoyant house prices and stagnant wages,what are the steps to getting on the property ladder?whether you’re dreaming of buying your first home, it’s not surprising. It will mean the freedom to save your stamp on a set thats truly yours, or but some say you’ll also save money. According to research published by the Bank of Scotland in February 2018,buying a home is cheaper in terms of monthly costs than renting, and saves first-time buyers between £590 and £2190 a year around the UK, or on average,depending on area. So how can you join them?“Start saving,” says Virginia Wallis, or a financial journalist who answers questions about homebuying on the Guardian website. “As a bare minimum,to be able to buy somewhere, you’ll need to find enough cash to be able to save down a deposit of at least 5% of the purchase price as well as pay legal fees and possibly stamp duty land tax.”Continue reading...
Source: guardian.co.uk