Making forecasts about the UK property is not an easy task. Over the last couple of years we have seen several false dawns and promises of recovery that never materialised. However there are now signs the market has reached its lowest level and may be on the way up once more. Many places have seen small increases in value this year and the pattern seems set to continue into next year as well.

So if you’re a first time buyer is it a good time to enter the market? Whilst prices are on their way up once again they are still at lower levels than July last year. Forecasts for 2011 and 2012 vary considerably depending on where they come from. The general consensus is prices will increase a little or stay flat. So for first time buyers I’d say now is as good as time as any to enter the market. Although prices may not increase much further they’re not likely to drop and you can get some great deals from many property builders on new homes.

If you’re thinking about buying your first home in the near future here are a couple of quick tips to help you out.

Mortgage and Other Costs

The need for big deposits by many lenders is one of the principal reasons for the lack of activity in the market. With a lack of new buyers entering the market it is taking considerably longer for houses to sell. In fact the volume of sales in 2010 reached a record low. However while most loan companies still reserve their best deals for those with a 10% or bigger deposit there are signs of the constraints on lending easing. More 95% deals have started to appear on the market although the interest on them may be slightly higher they are still competitive.

When you are saving for your first home the deposit is just one of the numerous expenses you will need to think about. You will also need to think about stamp duty when the property is over a certain value, solicitor’s costs and moving expenses. Furnishing your new home and decoration are other costs you’ll have to meet. Finally you will need to budget for bills that will considerably larger than in shared accommodation or if you have been living with parents.

New or Used Home?

If you’re thinking about buying a home should you choose a new or a used one? With the recent lack of activity within the housing market many developers find themselves with a big stock of unsold new properties on their hands. There are some great deals available on new houses with lots of developers reducing asking prices by as much as 10%. Many developers are also offering incentives including free white goods or help with finding a deposit. New build homes will also come with a free 10 year warranty from the developer and are much cheaper to run and maintain.

Shared Ownership

Shared ownership schemes are becoming increasingly popular for first time buyers. You take out a mortgage for the portion of the property you own and pay rent on the other part to a housing association. Over time you increase the amount of the property you own. There are many shared ownership programmes in the United Kingdom with many of them directed at key workers like medical workers, firemen and teachers.

Another option you could look at is purchasing a house with a group of your friends. While this can seem like a good idea it can be fraught with pitfalls for the unwary. Make sure that you use a lawyer to draw up legally binding agreements. Find new homes for sale in the UK on the WhatHouse? website.

After a difficult couple of years there’s finally a glimmer of light for UK property owners. The majority of property news has been negative for the last several years but 2011 ought to finally see some good news for home owners. Since the credit crunch as well as the economic downturn most areas of the country have been suffering from considerable price drops however this looks set to change this year. Many industry experts are stating that prices across the country are now at their lowest level and that they will start to climb towards the end of the year. There are several different reasons why house prices are likely to start rising once more soon. Some of these reason include the increased readiness of banks to lend money, a shortage of new homes as well as rising rental prices. The cost of property is never far from the mind of United Kingdom house owners. Regardless if you are buying or selling each and every penny counts and you have to make sure you are obtaining the best deal possible. The What House site offers a very helpful house price calculator that makes property valuation and house valuation really easy. if you’re thinking about buying or selling and want to value my house simply enter in a few simple details. The web site will then utilize the latest information and facts from the ONS, real estate markets and also the Land Registry to value your home. As well as a very good property valuation service the web site is the place to go for the most recent property news about housing associations, affordable houses and house builders in the united kingdom. If you are contemplating purchasing a new house you can find lots of information about new homes Cardiff,new homes West Midlands,new homes Hertfordshire and new homes Berkshire. If you are considering moving house this year make sure you definitely check out the What House internet site. It’s the number 1 source of info for the housing marketplace in the united kingdom.