Buying a house has become more difficult these past few years. This is especially true for people that are hoping to do so for the first time. For people that are hoping to buy a house on their own, the prospect has become quite impossible in the recent years.
Due to the steep costs involved, a lot of people have made it a point to only consider the idea of buying a property when they have somebody else to share the financial burden with. According to experienced estate agent Danny Kelly from Bicester, most consider this a good strategy to help ensure that their two incomes combined together will help them get enough mortgages to cover the costs involved.
To most people, this means having to wait until they are in a committed and long-term relationship before considering buying a house for the very first time. To some, this means having to buddy up with a family member or a friend before taking the plunge.
This reality of mid-earners only being able to afford the costs of buying a house only if they do it with someone else only ends up reinforcing the pressure that society puts toward being in a relationship. For those that are still single, this means having even more reason to somehow feel the urgency of settling down.
Still, it is not all doom and gloom for those interested to finally get on the property ladder for the first time. It is quite possible for you to buy a house eleven just on your own. All you have to do is know which direction to look; you will find that there are still a ton of affordable places across the UK that interested home buyers will find appealing. A research by property locator site Zoopla looked into the average price of one-bedroom properties while comparing the numbers with the average monthly mortgage and the monthly wage.
If you are hoping to take the plunge on becoming a property owner soon, below are some of the most interesting places that you might want to consider.
Newcastle-under-Lyme in Staffordshire gets the top spot where the average property price is at £62,519, which would require 10.84% of one’s monthly income spent for the mortgage. The second most affordable place for first-time home buyers is North Tyneside in Tyne and Wear where a property is averagely priced at £68,713 and will require about 10.92% of one’s monthly income for the mortgage. Next is Bradford, West Yorkshire where property average price is £64,768 and will require 11.79% off of a buyer’s monthly income for the mortgage. Kirklees in West Yorkshire came in fourth at £72,035 average price for properties and will require about 12.34% off of the monthly income. Finally, rounding up the top five is Blackpool in Lancashire where properties are priced at an average of £63,012 and will require one to spend about 12.48% off of a buyer’s monthly income to cover the mortgage payment.
Cambridge came out as the most expensive area for single buyers where properties are priced at an average of £248,206, where a buyer will have to spend about 36.14% off of the average £2,590 average wage every month. Other areas that are considered expensive included Bath, Brighton, Windsor, and Oxford.
With this lowdown on where it is most affordable to buy a property on your own, you will no longer have to feel obligated to get married to the first person you’ll meet just so you can afford to own a place. Keep yourself updated with the latest in the property market by reading about Danny Kelly Bicester online.