Options are 'very narrow' for first-time buyers

Article date : 08/08/2010

 

First-time buyers may be willing to spend money on renovating an old property in order to get their first foot on the housing ladder.

With this in mind, looking to central heating systems and investing in a new gas boiler could be a priority job.

Indeed, the Energy Saving Trust claims that a condensing boiler could save new homeowners hundreds of pounds every year on their heating bills, as it is more energy efficient than older models and less likely to need replacing.

Buying a property that needs work could be one option for first-time buyers during what may be a difficult time for them.

Helen Adams, managing director at FirstRungNow.com, said that options for such consumers have become "very narrow" over the past few years.

With this in mind, she welcomed the government's HomeBuy Direct scheme, claiming it has been "one of the few avenues" left available for first-time buyers, although it is yet to be confirmed whether funding for the project will renewed past September.

Written by Jasper Cullen
 

 

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