As someone who wants to get on the property ladder within the next four years, I’ve already started to look at mortgages and house prices. We don’t want to have to stay in our rented house for longer than we have to because it’s not where we want to raise a family.
For many people, the idea of renting for too long is so off-putting because you’re paying someone else’s mortgage. And, the monthly rent is often more than a mortgage repayment, which is pretty sickening really. According to a recent article on Zoopla, on average it’s 9%, or £62, cheaper per month to live in your own home rather than as a tenant.
The Guardian has reported that the average price of a home purchased by a first-time buyer is £171,870, and the average deposit raised by a first-time buyer is £29,218. That is a lot of money. It’s not surprising that the average age of people buying their first home is 30 years old, however I can’t imagine ever saving up that sort of sum.
So, as the average first-time home costs around £170k, I thought I’d have a hunt around Zoopla to see what your money can get you around the country. There are other property websites, such as Rightmove but I just happened to pick this one this time.
Three bed 1930s semi in Dover, Kent
Guide Price £170, 000 to £180, 000
This nice-sized home features two reception rooms, conservatory, kitchen, three bedrooms, and family bathroom. It also boasts front and rear gardens, although no parking.
One bedroom flat in Brighton, West Sussex
This rather small flat has a lounge, separate kitchen, double bedroom and bathroom. But it’s within a stone’s throw of all the sights and sounds of Brighton.
Modern three bed semi in Taunton, Somerset
Offers over £169,950
One of my personal favourites, this contemporary home has a lounge/diner, kitchen, downstairs loo, three bedrooms, family bathroom, back garden, garage and parking. This would be an ideal first home within commuting distance of both Exeter and Bristol.
Mock Tudor three bed detached with garage in Grantham, Lincolnshire
Offers in region of £170,000
Now talk about getting some bang for your buck. In Grantham, £170k buys you an entrance porch, hall, cloakroom, lounge/diner, conservatory, kitchen, utility room, three bedrooms with en-suite to the master and a bathroom. Now I’ve no idea what the job market is like in Lincolnshire but the price of this house suggests its not awesome. Tell me in the comments if I’m wrong. I’ll be moving!
Funky 1 bed apartment in The Cube, Birmingham
This is the cool one! If you’re looking for city centre living with your significant other, or alone, this flat is pretty awesome. It was the showhome in The Cube development. You get open plan living, a bedroom and a bathroom. I love it!
Stunning four bed terrace in Sunderland
As terraced houses go this one is gorgeous. It’s packed full of original features and comprises two reception rooms and kitchen on the ground floor, three bedroom and family bathroom on first floor and a loft conversion with the master bedroom and en-suite shower room.
2 bed flat, Merchant City, Glasgow
Offers over £155,000
This flat is ideal if you want open plan living close to the bustle of Glasgow. With a living/dining/kitchen, balcony, two bedrooms, and two bathrooms you could be very happy living here. That living space would be fab for parties!
One bed houseboat, St Katharine Dock, London
This one’s definitely the wild card. Not exactly your average home but you can’t get much closer to the action than this. Moored in beautiful St Katharine Dock just around the corner from Tower Bridge, this houseboat could be the ideal way to find a home in central London. You only get a living room, kitchen, bedroom, and bathroom (or should we say a head?) but I think the deck and the stunning setting might just make up for it. Don’t forget the annual £11,184 mooring fees though!
What would £170,000 buy around your way? How does this compare to your possible first home budget? Let us know in the comments!
For interiors inspiration – check out the chaperthirty <3 homes Pinterest board.