Are you thinking about moving out for the first time? Whether you’re looking to rent or buy, here are 5 things to consider.



Should You Buy or Rent?

This is the first thing you need to decide before you can start your property search. Look at the pros and cons of each and decide what is right for you and your lifestyle. There are some very clear benefits to each so don't rule out either option until you have done your homework.

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Living alone? Or with a friend or with a partner?

Whether you’re considering moving in with your partner for the first time, a friend or even a houseshare with new people, it’s worth weighing up a few things. Buying or renting with a friend or partner is a lot more affordable and additionally makes buying more attainable for many. Regardless of whether you choose to rent or to buy, living with someone is a great way to potentially save hundreds of pounds a month! Just be sure to consider all things before committing to living with someone else, as with any relationship or friendship, it’s easy to fall out.



What can you afford? 

Affordability is so important. What is the point of having your own place if you don't have enough money left to still live a little? You need to look past the main cost which will be either your mortgage or rent; you’ll also need to take into account council tax, gas, electricity, food and so on. If you have friends who have already taken the jump, talk to them to get a feel for what some of these costs might be to help you plan your budget.



Location, Location, Location

With 36 series of the TV show under their belts, Kirsty and Phil certainly struck gold with something everyone already knew - the importance of location. Just some of the things that should be considered are; how is your commute to work – is it a manageable journey; what are the local amenities like, can you get a good curry on the way home from the pub on a Friday night, or can you run down the shop mid-dinner-prep to get a thumb of fresh ginger for tonight's stir fry; how far is it to the local gym; and if you have a car - what is parking like?



What are my property requirements?

Make a realistic wish list of what you want from your first home. Is it a second bedroom to use as a home office when you get to WFH; some outside space to top up your vitamin D; or perhaps a designated parking space so you don't have to park 3 blocks up and walk home in the rain with the big shop? Whatever is on this list will be personal to you and specific to your individual needs. But remember this is a wish list and although some things will of course be deal-breakers you need to be prepared to make some compromises.

Finally, having your own place is an amazing, often life-changing, adventure. It’s important to consider the fact that your first property is unlikely to be your dream property, but that’s why it’s called the property ladder - it’s something to work towards after you take the first step.

The process is filled with a language all of its own, and there’s a lot to take in, but surround yourself with experienced friends and family, or speak to our dedicated team who can help you figure out whether to buy or rent, and what you can afford, as well as helping with all those tricky questions and also finding the perfect first property for you.

Read more about buying and renting | Start you property journey with Help to Buy