10 Dec

First-time buyers told to set budget when buying houses for sale

First-time buyers told to set budget when buying houses for sale

First-time buyers were given advice on raising the finance to buy houses for sale in the UK.

Writing for Property Mentor, chartered accountant Jatinder Singh stated that the best thing people looking to get on the housing ladder can do is set a budget.

He suggested that it is better to save money, rather than borrow the capital.

Mr Singh said: "Make sure you are away from extremes of the amount borrowed, for with a recuperating economy, interest prices are bound to go up with time."

Potential homeowners were also advised to bid the right amount on the property by properly evaluating an initial offer.

He added to take into account factors such as whether the home is in a busy or popular area or has other potential buyers. If it is, then they should raise their bid as this will help increase the changes of winning it.

There could be a rise in the number of first-time buyers looking for properties for sale after Halifax's House Price Index for November 2010 revealed that home values fell by 0.1 per cent over the month.ADNFCR-1222-ID-800284534-ADNFCR

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