With the Bank of England base rate at it’s highest point since 2008. Entering the world of mortgages for first-time buyers in the UK is quite a daunting experience!
The average desposit for first-time buyers in 2022 was £62,470 and the average age was 32 years old with an average income of £34,000. Roughly 45% of a yearly income and with the cost of living increasing, first-time buyers will be looking to alternative options to owning their own home.
There is another option available to those looking to purchase a new home – a self-build timber frame house kit.
Timber frame house kits are available from as little as £27,000 (over 50% less than an average mortgage deposit!) for a two bedroom house and enable first time buyers to take their initial steps on the property ladder.
All timber frame house kits from Vision Development are manufactured in its Reading factory and can be custom made to client specifications.
Find out more about timber frame house kits and discover how you could move into your first property within 5 months from ordering!
There are however some added factors that need to be considered when undertaking a self-build home. These include, land acquisition, planning permission and the ground works (foundations, flooring, drainage and utilities connections) required before building can start. Use Vision Development’s timber frame self-build cost calculator to find what additional costs may be incurred.
Vision Development also has the ability to provide a complete build service for those who require a fully managed build. Complete design and build packages from Vision Development take the hassle out of the building process for first time buyers whilst still enabling them to put their own stamp and style on the property.
Vision Development works with first time buyers from conception to completion of the design and build process, giving non-biased advice on all products and options available. Services include…
- Architectural design
- All planning matters
- Timber frame component manufacture
- Ground works and site preparation
- Timber frame erection
- Management of all other building trades and suppliers