Are you a first-time buyer looking for your first home and wondering how far your budget will stretch?
The average asking price of a first-time buyer home is currently £205,925. However, the average asking price of a UK home has recently hit an all-time high of £333,564 in May – a full £137,000 more than the first-time buyer average.
So having such a financial disadvantage, what type of properties can first-time buyers really expect to buy around the nation? We take a look…
Rightmove has taken a look at all the different types of homes you can buy in various locations across Britain, based on the average first-time buyer price, and they have actually found a great selection of properties.
The online property portal has uncovered everything from compact London flats, to large, detached houses with coastal views and countryside cottages in idyllic villages.
Let’s take a look at the First Time Buyer property gems they found.
£205,000: a two-bedroom country cottage
How about this charming 2-bedroom mid-terraced cottage in the popular hamlet of Lurley, just three miles from Tiverton in Devon?
This delightful countryside property, being marketed by Welden & Edwards in Tiverton is full of character features including an inglenook fireplace and exposed stone walls. There’s also a big living room, separate kitchen and a sunny patio courtyard with an outhouse that could also be used as a utility room.
Coming to the market with no chain at a time when people are rushing to beat the Stamp Duty deadline. What’s not to love?
Argyll and Bute, Scotland
£195,000: three-bedroom detached house with stunning loch views
Oh my! Look at those views… Just imagine waking up to this amazing view of, what is often described as, ‘Argyll’s Secret Coast’ from your living room window every morning!
This three-bedroom ‘upside down’ house sits in an elevated position overlooking the popular sailing coastline close to the picturesque village of Tighnabruaich on the Kyles of Bute.
Inside the attractive detached house being marketed by Waterside Property in Dunoon, the sizable, open-plan living/kitchen/dining room on the upper floor makes the most of the stunning views. A wraparound balcony has also been built with the views of the stunning loch in mind.
Downstairs you’ll find the shower room and three bedrooms, one of which could be turned into a work-from-home office – so occupants can spend their lunch break looking out at the sea.
With the potential to buy and use as a lucrative holiday let, this property has a lot to offer.
Doldre, Tregaron, Wales
£200,000: picture-perfect riverside cottage
If you’re looking for a town centre location close to all the local amenities yet with the rolling countryside on the doorstep, look no further than this picture-perfect riverside cottage in Tregaron, Wales that we found.
The pretty town of Tregaron, with its schools, doctor’s surgery, chemist shops and local pubs, is nestled in the foothills of the Cambrian Mountains, which is renowned for its country pursuits and breathtaking scenery. The town is also only eight miles away from the university town of Lampeter and 16 miles distant from the larger town of Aberystwyth with its shopping centre and great travel links to the whole of Wales and beyond.
This spacious, family-sized home being marketed by Morgan & Davies, Lampeter could very well tick all the boxes for first-time buyers who are looking to spend less than the average price of a first-time buyer home.
The traditional, four-bedroom, end of terrace stone cottage also benefits from solar-powered electric heating, an extensive and well-stocked garden that borders the beautiful River Brenning – and to top this all off has no onward chain too! What are you waiting for?
£189,950: two-bedroom cottage – countryside feel with a modern twist
This superb two-bedroom cottage in the village of Chatburn, near Clitheroe, has both a cosy, countryside feel and cool, contemporary interiors.
The home has just been renovated and has been decorated to a very high standard, so buyers can move straight in. The property benefits from new wooden flooring throughout, a new boiler and radiators and a wood burner in the living room. Upstairs, you’ll find two bedrooms with what the agent describes as ‘tree-lined’ views.
Externally, to the front is a beautiful cobblestone drive for off-street parking and access to the side of the property. There are also great travel links offering easy access to the A59 with Harrogate to the North and Burnley and Blackburn to the South.
On the market with Property Shop Sales & Lettings, Accrington for £189,950, it’s the perfect starter home.
New Eltham, London
£200,000: a one-bedroom flat in London
As you’d expect with London, it is more likely you’ll find smaller properties for the average first-time buyer’s budget, such as studios and one-bedroom flats. Rightmove suggests you may also find slightly larger properties within this budget that are being sold at auction.
The property portal has found this top-floor, one-bedroom flat that is conveniently located close to the local amenities and just a few minutes’ walk from New Eltham mainline station, which is in travelcard zone 4 on the Southeastern railway.
The flat benefits from double-glazed sash windows and an open-plan kitchen and living room, which overlooks the communal gardens and patio area.
Offered to the market chain-free, this property is being marketed by Robinson Jackson, Eltham for £200,000 with a 118-year lease.
So, what do you think about our budget first-time buyer finds?