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The average age at which people are able to buy their first home has been increasing and is now at 31.

Many young people consider getting on the property ladder more important in life than marriage, children or advancing in their career and so, as each year goes past concerns are likely to grow in terms of when, if ever, this will happen. With that in mind is it any surprise that, when first time buyers do find themselves in a position to finally purchase a house, they make some big mistakes?

If you are planning to buy a home here are a few of the errors you might want to ensure you avoid, but if you have already made one (or more) of these – don’t panic! 

Mistake 1: The property is too small

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You have bought a small house because it was slightly cheaper and therefore you were able to get on the property ladder that little bit quicker. However, once you have moved in and filled the space with your furniture and belongings there is barely any room left to move. If it isn’t big enough for you and your partner now, starting a family in a few years will be near impossible.

Mistake 2: It is in the wrong location

You jumped on the first home you found within your price range. But, then found that actually, it isn’t really in the right location. You might feel isolated because it is out in the sticks or find it is too noisy because it is right in the centre of a busy road. Perhaps it isn’t close enough to the local schools, or it is too far from family. Maybe your job situation has changed and now you aren’t even living in the right town or city. Whatever the reason, location is a huge factor when it comes to buying (and being happy in) a house. 

Mistake 3: You can’t really afford it

There are seemingly endless costs that come with buying a home. Paying the mortgage off may be cheaper than paying rent – plus you are paying towards owning your own home rather than throwing money away – but you will have drained your savings account by the time you start doing it.

You may have thought you could afford to buy a house, but by the time you have paid the deposit, stamp duty, valuation fees, legal fees, estate agent fees (and the list goes on…) keeping up with mortgage payments may not be as easy as you expected it to be.

Mistake 4: The home needs upgrades you can’t afford

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You can just about afford the costs that come with your new home, but it is falling apart and you can’t afford the costs to repair and decorate your home. Instead of being able to turn it into the dream home you had imagined, you are stuck in a nightmare.

Mistake 5: You didn’t ask the right questions

After moving into your new home you realise there were a lot of questions you should have asked. The answers to which may have made you think twice about buying this particular house. 

For example – Is the area safe? Finding out your new home has been burgled twice that year and crime is so high in the area you don’t want to walk around by yourself is not a situation you want to be in. If you don’t want to ask, put the postcode into this Crime Map and you can see for yourself how safe the area is.

It may not seem like it now, but if you have made any of these mistakes there are actually easy ways to rectify the situation. Simply sell the house to a cash buyer such as We Buy Any Home and you will be out of the nightmare and in your actual dream home before you know it!