The housing markets always seem to focus on the first time buyer.  The first time buyer always seem to be the most important in the chain of buying and selling houses, is this true?  Most would agree that this is the case, without new money coming into the property market then it’s a case of relying on the existing home owners to move around to keep the chain of events going.

Stepping back and looking at the housing market in this way should be the first thing anyone does when considering buying a house.  It makes you realise how volatile the housing market can be, especially when there is a factor out of everyone’s control roaming loose!  The factor roaming loose, an unknown economic outcome following a recession.

Are we about to enter a double dip?

A double dip recession isn’t as bad as people would have you believe it is.  The economy keeps going regardless of a downturn, the people affected the most are low earners and people trying to buy their first home and people desperate to move to a larger property and maybe those wanting to downsize and retire.  OK so there are a lot of people affected by the downturn, but not in the same way that there is a shortage of water and food, right?

We are talking about getting on to the property ladder and how first time buyers are struggling to a) get the right amount of deposit together and b) knowing that the time is right to buy.

The latter is the big question and there is no short answer unless you take the view that there is never a right or wrong time to buy a house.  This is the answer today.  If the house you are looing at buying feels right for all the right reasons then you must surely go for it.

what are the right reasons?

In no certain order

a) you have the capital for despoit which is secure and not a burden for repayment

b) your mortage offer and repayment schedule is affordable

c) the house is in the exact location to work and schools

d) you feel right in the house and will be happy