How I Bought my First Home

Hello


I have done a bit more of a personal post today. In November, my boyfriend and I got the keys to our first house. So very exciting.  Normally after sixth form some people go to uni and then normally move into halls then get their independence. However with me not going to uni I didn't get that opportunity straight away.

I started working part time from the age of 14 with a paper round to working as a waitress to then working in a cafe. And I would say I have always been a saver. I always like putting money into my premium bonds as it was hard to then withdraw and due to that I have benefited. Also any birthday or Christmas money I got I saved as well. After I finished my A-levels I pretty much went straight into full time work where I saved 1/2 of my wage.

When buying your house, you normally need a largish deposit(around a minimum of 10%)  for the bank to want to lend the money to you without thinking its a risk. Which is why saving from a young age instead of spending it on rubbish when you were younger (I have wasted some money before). Obviously with my Boyfriend and I going for the mortgage together we had more capital and they had two wages to lend against (they normally lend 4 time your salary) which was beneficial.

Unfortunately when we came to buying our first home, the government help to buy ISA wasn't really around. This is a fantastic way of helping you towards your first home . I have inserted a quotation of what it does from the help to buy website.  'The government has created the Help to Buy scheme to help hard-working people like you take steps to buy your own home. The new Help to Buy: ISA pays first-time buyers a government bonus. For example, save £200 a month and we’ll add £50, up to a maximum of £3,000, boosting your ISA savings of £12,000 to £15,000.'

They do say that buying your first home is the biggest financial commitment you will ever make, however its the most wise one. Houses normally increase there equity and when you come to sell it, you will have made money, unless its in the recession again.

Finally after all that waffle, it is nice to have your own space to do whatever you want. Buy whatever food you want, decorate it how you want etc. Even if I do get nagged at by my boyfriend.

Thought I would attached a picture of our kitchen as it is the only room that is completed. 

So I hope you guys have found this helpful, any question feel free to ask.

Lots of love,

Nicole xxx