The UK housing market has witnessed lots of ups and downs( generally downs) over the past few years. However there are signs the market has at last begun to stabilise and many industry experts are forecasting small price rises for many areas. The most recent information from the property website Zoopla showed that the cost of the average home in the UK increased by £5,000 in the 6 months to July. So if you’re a first time buyer is it a good time to go into the market? While prices are on their way up once more they are still at lower levels than July last year. The forecast for the rest of 2011 and early 2012 varies on who you listen to. The overall consensus is that prices will increase slightly or stay flat. So if you’re a first time buyer now is a good time for you to start looking. The cost of housing is not likely to fall and while any rises may be small they will only add to the expense of buying a house. If you’re thinking of buying your first home in the near future here are a handful of quick tips to help you out. Mortgage and Other Costs This is the greatest obstacle for most people and one reason why the market is so flat at the moment. The days of loan providers being prepared to give 100% mortgages are gone. Nowadays most banks and building societies demand a 10% deposit to obtain the best deals. However more 95% deals have started to appear during the last couple of months in particular for those who have excellent credit ratings. Obviously there are a number of other things that you need to save and plan for in addition to a deposit. You will have to pay for stamp duty, solicitor’s costs, surveyor’s fees as well as land registry fees. Don’t forget the cost of furnishing your home and the fact you will be paying the bills on your own. This can come as a great shock if you’ve been living in a shared house or with parents. New or Used Home? With the low level of activity in the property market there is a large stock of unsold new houses available. If you shop around you’ll find some good deals on new build homes with many developers giving a range of incentives to encourage people to buy them. New houses today are made to fantastic standards and will come with a 10 year warranty for complete peace of mind. Whilst a used home might be cheaper to purchase it’ll be more expensive to run and maintain. Shared Ownership Shared ownership schemes have grown to be a lot more common in recent years. They enable people to purchase a share in a house that they normally would not be able to afford. A mortgage is paid on the portion of the property you own and rent to a housing organization that is the owner of the other share. It is possible to increase the share of the home you own over time so that ultimately you are able to own 100% of it. Joining a shared ownership scheme means that you do not have to save for years to find a large deposit and you can get on the property ladder a lot quicker. Another option you could consider is buying a residence with a group of your friends. Although this can seem like a good option it can be fraught with stumbling blocks for the unwary. Always use a lawyer to draw up agreements to make sure that everybody knows their obligations and responsibilities.

Find the biggest choice of new houses at WhatHouse?

Optimism is finally coming back to the new houses market in great britan after some difficult years. Confidence is coming back to the industry and there are a number of signs and indications that the marketplace is starting to pick up. The constraints on home loan lending are starting to slacken and more first time buyers are now being tempted into the marketplace. However saving a deposit is a problem for a lot of first-time buyers with most banking institutions still demanding a first deposit of at least 10% of the price. In case you are thinking of moving home this year your first step should be to visit the What House site. If you’re looking to purchase a used house or a new build home you’ll find all the information you will need. You can find all the most recent news from United Kingdom home builders and developers and a listing of new homes for sale across the country. Also on the webpage is an exceptionally useful A-Z guide about purchasing a house for first-time buyers. New build homes have started to become a lot more popular with first time purchasers. New build houses have many advantages over older houses which make them a really sound investment for first time buyers. One of the biggest selling points of new builds is the warranty New houses also cost a lot less to run and they are a lot more energy-efficient and eco-friendly. New build homes also feature modern finishes and designs, modern kitchens and bath rooms as well as all of the latest home appliances. Many homebuilders and developers in britain are now offering some great bonuses which help make purchasing new build houses even easier. If you’re thinking about moving home in 2011 you need to look at the What House website first.