A guide for first time house buyers

The downturn saw a lot of price rise in the last year. Since things are improving now and 2010 looks better than before here is a guide that will help all first timers to buy their dream house and invest at the right place. Since house prices have been fluctuating buyers are very fretful and are confused if they should invest in the property sector. For all those who have saved enough for their dream house and can easily get a loan the answer is yes, but provided we plan to stay in that house for a couple of years to secure our selves against future price rise.

Except for London, in all other regions buying a house is better than renting because property analysts feel that the worst downturn is a matter of past. The cost of taking a loan is very prospective and interest rates are low too. Since the financial situation is improving affordability power is improving too. Since buyers are very few, it is very easy to negotiate with the property dealers as prices remain under pressure. 63% of the buyers feel this is the perfect time to buy a house.

But there is one major point to look into before buying a house. Finance is the most important aspect. Soon 1% tax will be payable on properties that cost between £125,000 and £250,000. We must have ample savings in order to pay this or else even money lenders might deny our loan. This is a perfect time to buy a house if we have enough savings and a secure job. But we must keep in mind not to over stretch our loans.