Making forecasts around the United Kingdom property is not an easy task. The last few years have seen several industry experts make strong statements about recovery that never actually materialised. However now there are signs the market has reached its lowest level and could be on the way up once again. Many parts of the country have seen small increases in value this year and the pattern seems set to continue into next year as well.

So if you’re a first time buyer is it a good time to go into the market? Whilst prices are on their way up once more they are still at lower levels than July a year ago. Predictions for 2011 and 2012 differ considerably depending on where they come from. The overall consensus is that prices will increase a little or stay flat. So for first time buyers I would say now’s as good as time as any to enter the market. The cost of property is not likely to fall and while any rises may be small they’ll only add to the expense of purchasing a house.

if you are entering the market for the very first time here are a handful of tips to help you out.

Mortgage and Other Expenses

Saving a deposit is one of the biggest hurdles for most people and one of the reasons why the housing market has been flat for the last few years. The times of lenders being prepared to give 100% home loans have ended. Nowadays most banks and building societies demand a 10% deposit to get the best deals. However more 95% deals have started to appear during the last few months particularly for those who have excellent credit scores.

When you’re saving for your first property the deposit is just one of the many costs you will need to think about. You will also need to save for stamp duty, solicitor’s and surveyor’s expenses and moving fees. Purchasing furniture and home appliances for the home are other expenses to take into account. Finally you will have to plan for bills which will be much larger than in shared accommodation or if you have been living with parents.

New or Used Home?

With the housing industry still flat developers are eager to sell new build homes. If you shop around you’ll find some terrific deals on new build properties with many developers offering a range of incentives to encourage people to buy them. A new home will also be built to much better standards and have a 10 year warranty. Although a used home might be cheaper to buy it’ll be more expensive to run and maintain.

Shared Ownership

Shared ownership schemes have grown to be a lot more common in recent times. They enable people to buy a share in a house which they otherwise would not be able to afford . A mortgage is paid on the part of the property you own and rent to a housing association that is the owner of the other share. It is possible to increase the share of the home you own over time so that ultimately you are able to own 100% of it.

Another option you could think about is purchasing a house with a group of your friends. This might seem like an attractive choice but can have its downside. Always use a lawyer to draw up agreements and ensure that everyone knows their obligations and responsibilities. Find new homes for sale in the UK on the WhatHouse? website.

There’s no doubt that the Uk property market has seen some tough times recently. The volume of homes which are being built has dropped despite the fact that in many areas there exists a massive shortage of new housing stock. The consequences of the credit crunch are still being felt in many areas and mortgage loan lending has still to recover to anything like its previous levels. However it is not all bad news and plenty of experts believe that the house market has bottomed out and prices are showing signs of rising in a few regions. These signs show that now’s a good time to think about the purchase of a new home from a new home building firm. If you are thinking about moving house in 2011 there are several good reasons why you ought to consider a new home rather than a used one. The first reason to consider buying brand new is the fact that new houses are built to a far better standard than older homes. A new house that is constructed using modern building materials and techniques is a lot more energy efficient and so less costly to run. This means that you save money along with the planet. All new homes come with insurance schemes along with a warranty to provide you with complete protection and of course peace of mind. Purchasing a brand new home in a popular location that includes fitted bathrooms and kitchens, large living spaces and designer styling is an exhilarating proposal for any potential buyer. Today there’s a range of superb deals and incentives from home builders to encourage people to move into their homes. If you’re looking for new homes Essex, new homes Hampshire or new homes Kent this year go the What House? website for the latest news and information. It features a large range of new homes for sale and also expert advice for both buyers and sellers of property.