When you buy your own home it is likely to be the biggest purchase you will ever make in your lifetime.

You will need to make sure that whatever you decide to buy is going to be the right home for you.

If this is your first home, this will probably the first time you will become responsible for all the maintenance costs, structural repairs and any improvements that you make to the property.

These won't be the only costs that you likely to face. You will also need to take into consideration the following costs:

- Your mortgage repayments.

- Insurance to cover your mortgage payments if you fall ill or lose your job.

- Life assurance which will provide enough money to pay the mortgage should you die.

- Contents insurance to cover the risk of theft , fire, flood or any other kind of accident.

- You will have to pay council tax and water bills.

- The gas, electricity, and telephone charges.

-You may have to pay service charges ground rent.

The actual process of buying your home can also costly. you may need to pay for:

- a solicitor or licensed conveyancer

- an independent survey

- the mortgage to be arranged

- the Land Registry fee

- Stamp Duty

It has become increasingly more difficult for first time buyers to get a foot on the rung of the housing ladder. Despite fluctuations, the property market has seen significant increases in prices and the housing market remains strong putting even more pressure on the first time buyer. This has made it very difficult for many people to afford to buy a home, as we have said, particularly as a first time buyer. Whilst many may be able to raise a mortgage, this will often fall far short of the cost of a property.

However, it is still possible for first time buyers to get onto the property ladder and there are still advantages available if you are a first time buyer.

- Interest rates are around their lowest for more than 30 years.

- First time buyers are more appealing to sellers because they are not in a chain.

- First time buyers are much sought after by mortgage lenders.

The government also runs various schemes, often in conjunction with Local Authorities, to help first time buyer and in particular - key workers.

The key worker 'living in' program is set up to help people working in key jobs in the public sector. This can be to rent or buy a home, possibly under a shared ownership scheme, for those who cannot afford to buy their home outright. Key workers include nurses, teachers, police and recently, firemen.

Choosing an area will be one of the most important decisions you will have to make.

When buying your home always remember: location, location, location.

There may be many different reasons for you moving to a new area. You may want to be nearer to family or have to move for work. Whatever the reason, it can be a time of great upheaval. Always try to find out more about different places before you take the plunge. Local authorities are often a good starting point. You can get a lot of information from the local council website. You will be able to checkout if there are any proposed new developments in the area. You can also check out transport links and recreational facilities. It always a good idea if you can spend some time looking around the area getting a feel for the surroundings.

If you have a family, or indeed if you are planning one, you will almost certainly wish to check out the availability and popularity of the local schools. The Office for Standards in Education website can give you valuable information on local primary and secondary schools. OFSTED also reports on in and other special schools, including independent schools and post sixteen education in England. Often, house prices will be higher in a catchment area for a popular school. Ofsted is not the only indicator of a good school. Talk to parents. Visit the school to get a 'feel' for the place.

You will need to find out the average house prices of properties in the area. The Land Registry has their own website which will tell you what is happening to average house prices in England and Wales. Visit local estate agents and look in the local paper. These are all good sources of information.

If you are looking for a new job in a new area , investigate the local job centre, again, look in local papers and employment bureaus. The local council may also have details of any public service appointments available. You can check out their web site.

You can also check out the Environment Agency's website for information on the local environment which will cover issues like pollution and flooding.

The Government's Website at '/neighbourhood statistics' will give you a profile the local area.

Don't forget to check out rail and other transport links too.

Article by Philip Ray

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