As 2022 edges ever closer, a view of the past year and the latest home buyer trends is becoming ever clearer. Bearing in mind what the latest housing trends are can be helpful in terms of deciding what’s best for you when it comes to buying your first home.
From the type of homes being purchased to the way people are buying their first home, a lot has changed over the last year. In the United States, custom homes are said to be a very lucrative option for first-time buyers right now. With beautiful custom lake houses (https://waredesignbuild.com/custom-home-builders-lake-geneva-wi/, to suggest one) available across the country, home buying has never seemed more personal. Additionally, with plenty of schemes out there to help first-time buyers find just what they need, getting to know your options could save you a lot of money. Keep in mind that when you are browsing the options for a new house, make sure that it aligns with your preferences and the latest housing trends. Staying informed about emerging patterns in home design, technology integration, and sustainable features can not only enhance your living experience but also contribute to the long-term value of your investment.
Furthermore, interested buyers can conveniently explore the listings of homes for sale from Lowcountry Real Estate or similar platforms to understand market prices, trends, and available properties in their desired locations. Moreover, by taking this approach and seeking the guidance of a real estate broker, they can streamline the home-buying process, gaining valuable insights into the current real estate landscape, potential investment opportunities, and the best strategies for navigating the market successfully.
Luxury Homes
In the dynamic landscape of the housing market, a prominent trend gaining considerable momentum is the growing preference for luxury houses. Astute homebuyers are drawn to residences that offer a blend of opulence, state-of-the-art amenities, and exclusive features. Luxury homes transcend mere shelter; they epitomize a lifestyle marked by sophistication and comfort. The surge in demand for such properties mirrors a discernible shift in the population, seeking not just a dwelling but an elevated living experience. Notably, an abundance of exclusive homes for sale in St Johns Wood and other locations is a testament to this trend. These residences often showcase cutting-edge design, advanced technologies, and spacious layouts, catering to the preferences of those who value the finer aspects of life. The inclination towards luxury housing underscores a change in consumer preferences, emphasizing a yearning for distinctive, high-end living spaces that capture both status and indulgence in today’s real estate market.
Shared Ownership
A key way in which young people and families are now buying their homes is through shared ownership. Allowing you to part buy, part rent a property, shared ownership involves buying a share in a property rather than purchasing the entire value of the home. Cutting down the deposits and minimising the mortgage, shared ownership is a great option if you want to get on the property ladder quickly without worrying about those hefty initial costs. With many of these homes being new builds and in some top areas across the country from shared ownership homes in Surrey to Tunbridge Wells, shared ownership is a real winner.
Outdoor space
One of the most important features that first-time buyers have been prioritising is the amount of outdoor space available to them. From gardens to countryside views, the outdoors has become a key factor in deciding whether to buy and making that move on the property market. And with shared ownership homes available in Derbyshire and plenty of other areas rich in natural landscape, first-time buyers are jumping at the opportunity to buy a home with plenty of space while saving money. Shared ownership homes in East Sussex are also proving popular with everything from the Kent countryside to beaches nearby.
Great Connections
Ensuring you live just within reach of the city is a big priority for first-time buyers this year. While many of us have switched to working remotely, being able to easily get into the office or out for lunch is a top priority on the list. With shared ownership homes in Cheshire putting you well within reach of Manchester while being surrounded by countryside is a real winner for first-time buyers. And should London be your city of choice there are plenty of London boroughs now transformed into young professionals’ haven. With shared ownership homes in Bedfordshire promising plenty of space with trains to London by the hour, getting the balance right is something everyone has taken into consideration this year after a significant time spent within their own four walls.
Help to Buy
Another option first time buyers are opting for is Help to Buy. With a 5% deposit and 20% equity loan that carries 0% interest for the first 5 years, buying a home with help to buy takes the pressure off your finances in those first initial stages. And if you’re looking to buy a home in London you can get a 40% equity loan, reducing your mortgage to just 55%.
With plenty of new priorities, opportunities and considerations for the new year, it may just be the time to start thinking about what you want from your first home. So have a think and really consider what’s important to you when imagining your dream home.