Make the most of the market

Even though the economy hangs by a tread and livelihoods are at risk, those of us who are lucky enough to be financially secure or at least in fulltime employment shouldn’t feel guilty about looking to make the most of it.

Although it may seem insensitive to take advantage of the property price slump, it’s only by keeping the market moving that a recovery can take place. So if you are looking to get on the property ladder or to trade up, if your finances are in place, there has never been a better time to buy. So how can you maximise your spending power and get more property for your pounds?

Climbing the ladder
If you do want to move up the property ladder, the best way to make sure that you get ahead is to save for a deposit. The bigger the deposit the better off you will be, with regards to mortgage offers and gains when you come to sell.

Location, location, location
Obvious but can’t be re-iterated too often. You can’t influence factors such as amenities, transport links, schools, crime rate etc but you can remodelled a property. So the golden rule is to buy a property in the best area and add value.

Lodgers
Even if you consider your student days well and truly over and you don’t see yourself as ‘Rigsby’, if the worst comes to the worst you could take in a lodger. Why not make your investment work for you, no matter how short term.

Shared ownership
If it seems too good to be true it most likely is. This is a great way for Housing Associations to help young, low paid buyers who are struggling to get on the property ladder. However, the low deposit ,sometimes as little as £3,000 and partial purchase price can be a double edge sword, as it can disguise the fact that the property is overpriced and when you come to move on, you may find yourself stuck on the first rung of the ladder.

When you purchase a property the next step, particularly if you have a mortgage, is to find the right home insurance policy. Check out Insureme4.co.uk’s great value, low cost home insurance with prices starting from just £43.