If you are looking to own your first home, you may wonder whether or not now is a good time to buy. On the one hand, the increase in property prices seems finally to have stalled. On the other, living costs and interest rates have risen sharply. Add to this the uncertain economic outlook, and it is hard to decide what to do for the best.
Nobody knows for certain what the future holds. For most people, their home is a long-term commitment, and it is important to see things in perspective. Whether you decide to buy now, or to wait, there is a lot to consider.
We outline some of the key considerations for first-time buyers.
Plan your finances well in advance
Building up savings can reduce the amount you need to borrow and…