If you’re moving on and would like help and expert advice on the Leicester property market, call Leicester estate agents Keywest

Moving

Getting your first house used to be fairly simple, and most people followed the same route in life. You lived at home with your parents and then put down a small deposit and borrowed three times your earnings from your local bank or building society.

Of course, things are much more complicated now, as people have much more in the way of choice. But with that choice comes the hard fact that at some point you will have to make some difficult decisions about where and how you live.

When you take the step to leave home it is a big moment. If you’re leaving to become a student, you will no doubt live in student accommodation for a while. But when it’s time to find a place of your own, where do you begin? Rent a flat, live with friends, move in with partner or buy a place of your own — there are so many opportunities and permutations that you need to think clearly about just what you want.

As with most things, a good place to start is by making a list. First and foremost, you need to consider your finances. While most people would obviously love to live in a huge house with all the mod cons, not many people can afford to live like this in their first property. If you want to have some fun with friends without too much commitment, then your best bet is to find a shared property, either with new housemates or get together with some friends and rent a place together. The beauty of this type of arrangement is that you can group together to pay bills.

If you’d prefer something a little quieter, then you could look for a flat share — again with someone you know or seek out a like-minded person. You may end up paying a little more but you will have more space and more privacy, which is important if you like to wind down at the end the day or like to have the bathroom to yourself for longer than 10 minutes!

Of course, you could also look at buying your own place. You’ll need to have the funds to do this, with enough saved up to put down a suitable deposit and a regular income to pay your mortgage. Don’t be tempted to overstretch yourself — you can always buy a bigger place further down the line. If you go down this route, you might want to consider taking in a lodger or housemate to help out with the bills and put their rent towards your mortgage payments.

Getting your first place is exciting and a bit nerve wracking, but you need to think carefully about your lifestyle and your finances to make sure you choose the right option for you.

For advice on the Leicester housing market, please contact Keywest on 0116 254 4555 or email sales@keywest-estateagents.co.uk.