Becoming a home owner is an obsession of British Millennials. Unlike many Europeans and Asians who are happy renting throughout their twenties and thirties, most Brits chase the dream of owning a home as soon as possible.
Commentators may never agree why it has become such a huge milestone; some suggest overbearing rental pressures, while others believe the limit on houses in the UK to be the reason. But whatever it is, we can’t get enough of new ways to get onto the property ladder, and the government cashes in on Millennials’ struggles with every campaign.
Sadiq Khan was deemed to win this year’s Mayoral race due to freezing TFL fares and his pledge for affordable housing. Cameron won over everyone with his controversial Help-to-Buy scheme. But with the news that Hammond and May have decided to scrap the scheme beyond 2016, what will buying a home look like in future for Britons?
Given the pressures Millennials are under, it is no surprise that in the desperate rush to buy, the whole process can become overwhelming for many.
It is not simply a case of any home is better than none; anyone willing to endure the emotional rollercoaster of buying their first home should at least do some research into what to look for to ensure the house is the best possible find, both on a personal level and financially. After all, Which? found that 20% of British homeowners regretted their home purchase in some capacity, so what should be considered before taking the plunge?