Before you get excited about looking at tempting homes for sale in estate agents’ windows and on the Internet, you need to ask yourself whether you are truly ready to buy. If you haven’t first asked yourself some fundamental questions about your circumstances and lifestyle, it’s too early to start admiring old sash windows and cornices of a period property or get excited by an up-to-the-minute flat in a smart development.

If you’ve been thinking about buying, though, perhaps you are ready to become a hunter of a first home. What you must do is identify whether this is the right move for you and whether it’s the right time to buy a home. Only you will know, and much depends on your own circumstances. A good way to work out if this is the right move for you right now is to ask the following questions. If you can’t say yes to the majority of them, then maybe you need to hang on for a bit longer.

Are You Ready?

• Do you have enough money to buy a home?

• How likely is it you will be able to borrow money to buy your home?

• Is it tax efficient for you to buy now?

• Does it make sense for you to make this move now?

• Will you be in a spot long enough to make it worthwhile?

• Are you eager to put down roots?

• Can you cope with the responsibilities involved?

• Are you happy to make the commitment to be a homeowner?

You do need to be careful that you are buying a home for the right reasons. Some people feel it’s what they should be doing by a certain age or when they get married. Also, you might feel pressure, direct or indirect, from friends and family members. If a number of your friends are buying their first home, or your mother thinks it’s time to “settle down” – these might not be the best reasons for you to be thinking of scrambling onto the property ladder.

Buying a house is one of the most important purchases you will make, and buying a home for the first time will be an even more daunting prospect. Add to this the vast array of mortgage products available from a wide range of sources and you could be left with a high-stress, complex decision. It is important in this case to gain impartial advice on First Time Buyer Mortgages in Croydon.