UK Government announces plans to grow home ownership in under-40s
Being a first-time buyer is an exciting time; it can mean gaining some independence and being able to put your own stamp on a place that you call home. It also allows you to build up some equity in a property, which may be helpful in later life when looking to move further up the property ladder.
The UK Government has acknowledged that the level of home ownership in under-40s has seen a rapid decline in recent years. With the risk of many young people being trapped in the private rental market and forced to pay rising rent fees, Boris Johnson has recently announced plans to transform “generation rent” into “generation buy”. The ambitious scheme has promised to introduce 5% mortgage deposits for first time buyers, with the goal of creating a further 2 million owner occupiers across the UK.
To coincide with the announcement, we’ve rounded up five excellent properties on the ASPC website which are well suited for a first-time buyer, looking to make their first step onto the ladder.
Located in the heart of the city centre and enjoying a quiet position at the back of the building, this one-bedroom third floor flat is the perfect option for first-time buyers looking to live the city life.
This property is perfect for single first-time buyers, young couples and even student buyers. While aesthetically pleasing on the outside, it is also spacious and bright on the inside. With ample natural light, spacious rooms throughout and ample storage space, this flat has potential for any first-time buyer.
The flat’s central location also makes it easy for commuting to and from the city for work, study and leisure.
This charming mid-terraced two-bedroom dwellinghouse in Bridge of Don is the perfect starter home for couples or young families.
Situated in an established residential area, this stylishly presented home is within easy distance of an excellent choice of schools and the city centre.
This home has well-proportioned and spacious living areas and two bedrooms - the master bedroom is perfect for a couple, and the second bedroom is perfectly sized for a children’s bedroom or office space.
To the rear is a private garden to enjoy the summer months when they return.
Situated in the desirable West End of Aberdeen, this stylish 2-bedroom top-floor flat has a lot to offer.
This property is beautifully presented, featuring excellent storage, a good size lounge with a fireplace and gas fire and a stylish galley kitchen with space for appliances. With 2 bedrooms and modern bathroom fitted with a 3-piece suite including an over bath shower, this property is in move in condition.
This property is set within a well-maintained tenement building entered via security entry door system and has a walled communal garden to the rear.
This desirable one-bedroom executive-style apartment is a first-time buyer’s dream. This apartment is in a prime location in the city and is very convenient for commuting to workplaces and universities in the area.
Perfect for young single buyers or couples, this flat boasts gas central heating system, fully double-glazed windows and generous built-in storage. There is an open-plan living room kitchen and spacious bedroom and bathroom. The exterior’s fresh and modern appeal is carried through the apartment, with stylish features throughout.
For your added comfort and peace of mind, there is a security entry system and secure underground parking for residents.
This two-bedroom semi-detached house located in Dyce would make the perfect first home for any young family. Inside the property offers a very spacious and modern open plan living and dining area with two very well sized bedrooms upstairs.
The master bedroom is fit for any couple with a large second bedroom perfect for a child to put their own stamp on. To the rear is an ample, private garden with both grass and patio – perfect for all the family!
With any of these four properties, it’s worth remembering you will also be exempt from Land and Buildings Transaction Tax (LBTT), with the threshold now temporarily increased to £250,000.
Could one of these properties be your dream first home?