Trying To Get On The Property Ladder? Try These Tips

Getting onto the property ladder is not as hard as you might think. We sat down for an exclusive chat with UOWN to give us some practical tips on how to get onto the property ladder in 2019.

1. Preparing your monthly spending habits in advance will allow you to save money but also once you have purchased, to be able to comfortably pay the mortgage and all associated costs that come with home ownership. Onedox manages all of your household bills in one place and alerts you if there is a better deal or where savings could be made.
2. Payday saving – When your pay check comes in each month, treat saving as you would your rent payment, take this money out, put it in another account and leave it there. Saving money left over at the end of the month leaves too many temptations to spend, if you have already taken that money out you should be able to stick to what you have available in your bank. If you get a bonus or a pay rise then put half of the extra money away, you managed to survive before and will do now.
3. There are various government schemes you can look into, one of which is a help to buy ISA. You can deposit up to £1200 to start with and then for example pay in £200 a month and the government will pay £50. You can earn as much as £3000 if you save £12000. This deal is per person too, so if you are buying with a partner and you are both first time buyers you could get up to £6000.
4. Start investing today – UOWN could be a great solution to how to get started in the world of property development. UOWN is crowd funded property investment where the investor can decide exactly how much they want to invest per month and set their own targets and how quickly to reach them. Not only are you receiving a great return on your money, the amount you save is linked to house prices so you don’t fall behind as prices rise.
5. Choosing the right mortgage is a key thing to being able to get into the property game, and to be successful with your investments. If you get a good mortgage which is suited to your earning potential and lifestyle then it pays dividends, if you don’t you can be tied in for years to something which is not working efficiently for you. Habito scans the whole of the UK mortgage market to find the best options for users, with a list of over 75 partners they can unearth suitable deals for their customers.
6. If you are getting on the property ladder you should start with research. Where do you want to buy? How long will you stay? Are you looking for good schools? Do you need to be near a station? Are there any developments in the area which could positively or adversely affect your property price in the future? Knowledge is key when choosing the right area for you and your future.
7. Breathe – You are not alone. Plenty of people have not quite got on to the property ladder but there is still time. So first things first, be kind to yourself and try not to stress.