Predicting which way the united kingdom property market is going is not easy. Over the last couple of years there have been a number of false dawns and promises of recovery that never materialised. However there are now signs the market has reached its lowest level and may be on the way up again. Many parts of the country have seen small increases in value this year and the pattern looks set to continue into next year as well. So is now a good time to buy if you are a first-time buyer? While there have been some gains prices are still lower than they were at the same time last year. Forecasts for 2011 and 2012 vary considerably depending on where they come from. The overall consensus is prices will increase a little or continue to be flat. So if you’re a first time buyer now is a good time to begin looking. Prices are not likely to drop and there are many excellent deals available on new houses. if you are entering the market for the first time here are a handful of tips to help you out. Mortgage and Other Expenses The need for big deposits has slowed down activity in the housing market considerably. With relatively few new buyers going into the market the number of houses sold reached a record low in 2010. However while 10% home loan deals are still the norm there are signs that loan providers are easing their restrictions on lending a little. There are now a lot more 95% mortgage deals available with competitive rates of interest. A deposit is needless to say just one of the many things that you will have to save for. You will also need to think about stamp duty when the property is over a certain value, solicitor’s costs and moving expenses. Furnishing your household and decoration are other expenses you will have to meet. Finally it’s worth finding the time to budget for the bills you will have to pay each month. New or Used Home? Should you invest in a used or new home? With the present state of the housing marketplace there is a large stock of new homes that developers wish to sell. You can find some good deals on new properties with many developers lowering asking prices substantially. In addition to reducing prices many developers are offering other incentives like help with finding a deposit, part exchange programmes and free white goods and home appliances. New build properties will also come with a free 10 year warranty from the builder and are much cheaper to run and look after. Shared Ownership Shared ownership schemes have become much more common in recent times. They allow people to buy a share in a house that they normally 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. You are able to increase the share of the home you own with time so that eventually you are able to own 100% of it. Joining a shared ownership program means that you don’t have to save for years to find a large deposit and you can get on the property ladder a lot faster. Another option is buying with a friend or group of friends. This may seem like an attractive choice but can have its downside. Ensure that you make use of a lawyer to draw up legally binding agreements.

Find the biggest choice of new houses at WhatHouse?

2011 may be the year when the house market in britain gets back on its feet and begins to recover fully. Confidence is slowly but surely returning to the industry and a lot more people are looking to buy new build homes. The limitations on house loan lending are beginning to slacken and more first time buyers are being tempted into the marketplace. Nevertheless most banking institutions and building societies still call for at least a 10% deposit and the times of 100% house loans have long gone. If you are looking to purchase a new build home soon you should look at the What House internet site. You will discover all of the most up-to-date news from UK house builders and developers and a listing of new homes for sale across the nation. There is also a very helpful A-Z guide for first-time buyers which contains everything you need to learn about buying any type of property. New build homes are selling at their highest rate for many years and proving to be extremely popular with first time buyers. The reason being new homes and homes are much cheaper to run and more energy-efficient due to the modern building materials they are built from. When you buy a new build home it will come with a warranty providing you with full peace of mind. If anything should go wrong with the house in the first ten years of you owning it, it’s the developers duty to repair it. New homes also feature the best innovative designs and finishes and come with all the latest appliances, fitted kitchens and bathrooms. There are many excellent reasons to buy new build properties. As an extra bonus many developers are at the moment offering some amazing incentives on their properties. So if you are thinking about selling or buying this year make sure that you visit the new houses web site.