Although many first time buyers are struggling to save the the deposit necessary to get on the property ladder, a new way of investing could see first time buyers becoming property millionaires in a matter of months.
Many new home construction companies such as Barratts and Oakley Homes develop new flats and houses with the aim of selling them as quick as possible. Due to the urgency in selling, many of these companies accept offers much lower than the property value.
Not only that, but first time buyers are able to usually have around 5% of the property deposit paid for them. Buy to let investors also have concern to be ecstatic, as many also offer buy to let opportunities with guaranteed rental income.
With no estate agents involved, no legal fees, no need for solicitors or other expenses, this is a very cost effective way of getting onto the property ladder. The only concern for the buyer is arranging a mortgage quote.
Many new builds take place in areas to be renovated or in student areas. The only obstacle to becoming a property millionaire is committment. First time buyers may not be able to move into a mansion instantly, but given 24 to 36 months one can easily find themselves bathing in their very own swimming pool.
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Buying new build homes could prove lucrative for first time buyers
Tue, 09 Jan 2007
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