Commentary
Buying Now? First-time Buyer?
May 11, 20261 min readtenant2owner Team
Is now a good time for a first-time buyer to buy?
Honest answer? Yes, if you're ready. No, if you're not. And "ready" has very little to do with the headlines.
I get asked this constantly, usually by people who've been told to wait for rates to come down or prices to drop (even further!😁).
Nobody who waited in 2020 is glad they waited. Nobody who waited in 2015 is glad they waited. There are people who at various times bought and regretted too. I don't sugarcoat facts, but being ready and regretting should never go hand in hand.
Ready means three things: your deposit is in place (or you've identified a 100% LTV route like the Skipton Track Record); your credit file is clean and your affordability stacks up against today's rates; and you actually understand what you're signing up for.
If those three are true, you're closer than you think. And every month of rent after that, for most honest tenants with a good landlord, is a month of dead money.
Take the free Homeownership Readiness Assessment at tenant2owner.co.uk. Two-five minutes. Honest answer at the end.
Honest answer? Yes, if you're ready. No, if you're not. And "ready" has very little to do with the headlines.
I get asked this constantly, usually by people who've been told to wait for rates to come down or prices to drop (even further!😁).
Nobody who waited in 2020 is glad they waited. Nobody who waited in 2015 is glad they waited. There are people who at various times bought and regretted too. I don't sugarcoat facts, but being ready and regretting should never go hand in hand.
Ready means three things: your deposit is in place (or you've identified a 100% LTV route like the Skipton Track Record); your credit file is clean and your affordability stacks up against today's rates; and you actually understand what you're signing up for.
If those three are true, you're closer than you think. And every month of rent after that, for most honest tenants with a good landlord, is a month of dead money.
Take the free Homeownership Readiness Assessment at tenant2owner.co.uk. Two-five minutes. Honest answer at the end.
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