FTBs 'may have to compromise on location'

Posted: 27 Jun 2011 13:32:26 GMT

People wanting to get a foot on the property ladder may have to buy a house in an area they are not overly keen on.

Location is among the numerous factors first-time buyers (FTBs) may have to compromise on in order to get a foot on the property ladder.

This is according to Helen Adams, managing director of First Rung Now, who noted such people may also have to settle for an abode that is not in the greatest of condition.

The industry figure pointed out individuals might need to fix up a place themselves or purchase a repossession before doing it up.

However, Ms Adams recommended FTBs try their best to find a dwelling in an area that is to their liking, adding: "The thing that you should comprise least on is location – as they say location, location, location."

People who move into a new house should always have a survey carried out beforehand to make sure it is structurally sound, she observed.

Her comments came after recent research from Post Office Mortgages found both men and women are willing to sacrifice residing in a fashionable region in order to buy a home.
 

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