4 types of homes for first time buyers

Today, we're discussing the different types of homes that first-time buyers in the UK often choose and why. When it comes to purchasing their first home, UK first-time buyers have several options including flats, semi-detached homes, terraced houses, and detached houses. And just for reference, for our examples today, we're using Liverpool as our city when it comes to house prices.

One popular option for UK first-time buyers are flats. Flats offer a combination of affordability and convenience for those looking to live in the city and can range from £50,000 to £150,000 in Liverpool. They're often compact, making them ideal for singles or couples who don't require a lot of space. They are perfect to get on the ladder, and for ones initial foray into homeownership. Flats can also provide a greater sense of community by being in a closer proximity to your neighbours.

Semi-detached homes are another popular choice, providing more space and privacy for families. They're found in both urban and suburban areas in the UK and typically cost between £120,000 and £300,000 in Liverpool.

Terraced houses are also a popular choice, providing a good balance between affordability and space. They're often found in urban areas in the UK and cost between £80,000 and £200,000 in Liverpool.

Detached houses are the largest and most private option for UK first-time buyers but also the most expensive. In Liverpool, they can range from £200,000 to £500,000 or more.

It's important to note that all of these homes can be either leasehold or freehold in the UK, with the main difference being thata leasehold property is owned for a set period of time, while a freehold property is owned outright. WIth leaseholds, you typically also pay ground rent to the leaseholder, making it slightly more expensive. We'll cover in more detail in a future blog post!

At Jrny, we're looking to make all these sorts of houses affordable and accessible for aspiring homeowners. It's our mission to make homeownership a dream for everyone. To find out more, email us at info@joinjrny.com or click here to begin your Jrny home.