Where there’s a will there’s a way for first time buyers

Last month, TV presenter Kirstie Allsopp ignited controversy by suggesting young people wanting to buy a property ditch expensive takeaway coffees, Netflix subscriptions and gym memberships. She also suggested moving to a cheaper part of the country for those determined enough to get on the housing ladder.
The comments were roundly condemned by those on low incomes and/or in expensive areas who said it would take years to save up a deposit given house prices have been on the rise in the past year.
According to Halifax Bank, the average UK house price hit a record high of £276,759 at the start of this year after increasing by about £24,500 over the past 12 months and £37,500 higher than two years ago. It also says the average deposit for a first time buyer is £59,000.
Meanwhile, others were quick to point out it’s easier said than done to move to another part of the country and remain in the same job, and if all these first time buyers did scale back their spending, the economy in some parts of the country would be severely hit.
However, while many in London and the south east commuter belt derided her comments as being out of touch with reality, others came to Ms Allsopp’s defence with stories of how they had saved up enough to buy their first home.
So, who is right? Well, in reality both sides have credible arguments to make. While it may be true that it is almost an impossible dream to save enough for a pad in London or any of our other major cities with house prices so high, for those on average incomes or with flexibility in where they live, it is possible to find a place in other areas, including Warwickshire, Worcestershire and Gloucestershire. And forgoing a few luxuries and prioritising spending on the essentials in order to save money for a deposit could make all the difference.
Sheldon Bosley Knight head of residential sales, James Morton said: “It is true that in some areas of the UK it is very difficult to save for a deposit unless you are on a huge salary, have financial help from the bank of mum and dad or use an inheritance.
“However, there are certainly areas where with a bit of smart saving, first time buyers can score a great first step on the ladder.
“Our passion is marrying people with their dream homes and we have some great options, particularly for first time buyers and those with more flexibility in where they live.
“We would therefore urge them not to be discouraged by such stories but come to us so we can help them.
“As well as some great properties, ideal for those looking to buy their first home, we have access to trusted mortgage brokers and solicitors. There has never been a better time to buy and with the right help and advice we believe we can make it happen.”